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History of the Proof Platinum Coin Seigniorage Concept, 2010-2013

Please leave new "sightings" of Proof Platinum Coin Seigniorage items -- whether old or new -- in comments below, or contact the blog!

And see here for an interpretation of the data, at least from the perspective of the blogosphere.



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Here is a timeline of the same data, which makes visualization easier

Displaying 1 - 150 of 552 entries
For example, "Paul Krugman" or "Economist"
E.g., 06/29/2016
Author: Publication Datesort descending Text
Beowulf: The Center of the Universe (comment) 05/23/10

"Congress passing a law to abolish the overdraft restriction would have the same operational effect as if it deleted 1551(b) from the US Code or, to use your aircraft carrier example, authorized the US Mint to stamp a $1 billion coin. Either way its an exercise of Uncle Sam’s seignoirage power" (original).

Beowulf: The Center of the Universe (comment) 05/24/10

"Authorize the US Mint to stamp $1 billion or even $1 trillion coins. Geithner could hand-deliver them to the Federal Reserve Building as needed. :o)" (original).

Ramanan: Billy Blog (comment) 05/28/10

"The simplest way to prevent an overdraft without breaking any law or constitution is for the Treasury to hand a coin of high denomination to the Fed. As Beowulf says, Tim Geithner can hand-deliver this coin" (original).

Beowulf: Brad DeLong (comment) 07/06/10

"(k) The Secretary may mint and issue platinum bullion coins and proof platinum coins in accordance with such specifications, designs, varieties, quantities, denominations, and inscriptions as the Secretary, in the Secretary’s discretion, may prescribe from time to time. 31 USC 5112(k)" (original).

Beowulf: New Deal 2.0 (comment) 11/04/10

Commenter beowulf continues discussion at the Roosevelt Intitutute's New Deal 2.0 blog (history; original [broken].

Beowulf: FDL (comment) 11/09/10

Beowulf posts again (history; original).

Joe Firestone: FDL/Corrente 11/12/10

Joe Firestone picks up on Beowulf (history; original).

Beowulf: FDL (comment) 12/14/10

"The Secretary of Treasury has been delegated pretty damn broad seigniorage power (“specifications, designs, varieties, quantities, denominations, and inscriptions”). Tsy could mint a trillion dollar platinum coin (cost of minting is not related to face value) and deposit it with the Fed" (original).

Beowulf: Corrente (comment) 12/15/10

Exhange between bewoulf and letsgetitdone (history; original).

Beowulf/Joe Firestone: Corrente (correspondence) 12/15/10

Beowulf and Joe Firestone collaborate and correspond (history).

Then on 12/15/2010 there was an exchange between beo and I about platinum coin seigniorage.

Following that beo wrote me, and we corresponded by e-mail from 12/15/10, roughly until the Christmas break, exchanging views about PPCS, with me urging beo to blog it, and telling him that I would blog in support of him soon after he did.

Beowulf: FDL 01/03/11

Beowulf's seminal post (history; original).

Joe Firestone: Corrente 01/05/11

"President Obama will have, by then, demonstrated, that by using seigniorage he can take the deficit and debt issues completely off the table." (original).

Joe Firestone: Corrente 01/12/11

"The Fed could not refuse the coins or fail to credit their face value because they are legal tender. Since the Fed is technically in the private sector, acceptance by them of a deposit in the form of the jumbo coins, resulting in the markup of the Mint's Account by their face value, gets recorded technically as a sale of the coins to the private sector." (original).

Joe Firestone: Corrente 01/19/11

"The impact of coin seigniorage in eliminating deficits, the national debt, and bringing the debt-to-GDP ratio to zero isn't very important economically, since the size of these numbers doesn't create any solvency risk, or impair the Government's ability to sustain future fiscal activity. But that impact is very important politically and psychologically" (original).

Warren Mosler 01/20/11

Warren Mosler hosts discussion (history; original).

Warren Mosler: The Center of the Universe 01/20/11

"Joe Firestone has a new post on Coin Seigniorage, where he gives credit to our own Beowolf’s comment on this website.

As far as I’ve been able to determine, it does work operationally. It seems the US Treasury is already legally empowered to simply mint it’s own platinum coin in any denomination it wants and effectively deposit it in its Fed account, rather than sell bonds to the public to fund its Fed account" (original).

Joe Firestone: Corrente 01/30/11

"Paul Ryan's Deficit Reduction Fairy Tales: Part One" (original).

Joe Firestone: Corrente 02/01/11

Many posts from Joe Firestone (source).

Joe Firestone: Corrente 04/05/11

"There is an effective response the President ought to make to the threat of a refusal to raise the debt limit, which would allow him to avoid the “forced” spending cut scenario" (original).

Joe Firestone: Corrente 05/05/11

"[C}oin seigniorage, can be used to extinguish the national debt, without either reclaiming currency from the private sector by taxing, or, technically, even running a Federal defici" (original).

Joe Firestone: Corrente 05/13/11

"The MSM these days are locked into neo-liberal perspectives which provide none except painful solutions to our current problems. The polling organizations should be better than this." (original).

Joe Firestone: Corrente 05/15/11

Open letter to Sen. Bernie Sanders (original).

Joe Firestone: Corrente 05/15/11

Open letter to Sen. Bernie Sanders (original).

Joe Firestone: Corrente 05/18/11

[The] national debt can eventually reduced to near zero with the constant use of coin seigniorage. (original).

Joe Firestone: Corrente 06/10/11

"Middle grounds often sound like a good idea theoretically. But in reality they can be incredibly costly because the cautious,compromising approach they require often means accepting the very outcomes one is trying to avoid" (original).

Wigwam: Daily Kos 06/22/11

Wigwam posts a variation: Use the coin to buy debt from the Fed (history; original).

Joe Firestone: Corrente 06/29/11

On constitutionality of the debt ceiling and coin seigniorage (history; original)

Joe Firestone: Corrente 06/30/11

"The President has no choice in this matter. Congress has appropriated money for particular purposes. It has also passed a debt ceiling, and passed a law providing the Administration authority to engage in jumbo coin seigniorage to get revenue necessary to spend appropriations in the presence of the debt limit." (original).

Beowulf: DeLong (comment) 07/04/11

" (k) The Secretary may mint and issue platinum bullion coin" (original)

Trader's Crucible 07/05/11

"This idea has legs" (history; original).

DCblogger: Corrente 07/06/11

Call for questions at Obama "tweetup" (source).

ubetchaiam: FDL 07/07/11

ubetchaiam responds to wigwam (source; original).

Cullen Roche: Pragmatic Capitalist 07/07/11


mahilena: Corrrente 07/07/11

Eliminate the debt limit (history; original).

Scott Fullwiler: Naked Capitalism 07/11/11

"[T]he debt ceiling debate could be ended right now given that the US Constitution bestows upon the US Treasury the authority to mint coins (particularly platinum ones)." (source; original).

Joe Firestone: Corrente 07/11/11

President's obligation to issue the coin if no agreement on the debt ceiling is forthcoming (history; original).

Felix Salmon: Reuters 07/14/11

"Tools like the 14th Amendment or even crazier loopholes like coin seignorage" (history; original).

Dave Winer: Scripting News 07/15/11

"I like it. Currency hacking" (original).

Matthew Yglesias: Think Progress 07/15/11

" I now think this might be legal after all, provided the coin is made of palladium." (source; original).

Joe Firestone: Corrente 07/17/11

Reply to Salmon and Yglesias (source).

Jack Balkin: Balkinization 07/18/11

Obama's Top Secret Plan to Solve the Debt Crisis (history; original).

Joe Firestone: Naked Capitalism 07/18/11

"Why Matt Yglesias and Felix Salmon are Wrong About A Legal Way to Circumvent the Debt Ceiling Impasse" (original).

Tom Hickey: Mike Norman Economics 07/18/11

Coin Seignorage Breaks into Mainstream." history; original)

Warren Mosler: Pragmatic Capitalism 07/19/11

"And yes, there are options that allow the executive branch to continue to deficit spend if it wanted to, ranging from issuing a multi trillion dollar platinum coin to spending under cover of the 14th amendment" (original).

Scott Sumner: The Money Illusion 07/19/11

"Is coin seignorage Obama's magic bullet?" (source; original).

Joshua Holland: Alternet 07/20/11

“There's a Solution to the Debt Fight That Could Avert Catastrophe -- Why Is Everyone Ignoring It?” (source; original).

Darrell Delamaide: MarketWatch 07/20/11

”Smoke and mirrors with the federal deficit" (history; original).

Joe Firestone: Corrente 07/21/11

"[Coin seigniorage] is the only solution currently being suggested that requires no agreement in Congress and also no challenge to the debt ceiling law itselfIt is the only solution currently being suggested that requires no agreement in Congress and also no challenge to the debt ceiling law itself" (history; original).

Lawrence Tribe: Dorf on Law (guest post) 07/21/11

"Here is another option: the Treasury could mint coins to cover all the nation’s spending commitments. As Jack Balkin has pointed out, 31 U.S.C. § 5112(k) authorizes the Treasury to mint platinum coins in any denomination. Balkin suggests that the President could exercise this authority to mint a couple of trillion-dollar coins. By doing so, the President could put an end to the problem created when the Treasury’s revenues are insufficient to meet its spending commitments, without violating any existing federal law. If we accept Balkin’s interpretation of the relevant statutory provision, the central premise of Professor Buchanan’s argument—that default is guaranteed to occur under extant statutes come August 3—isn’t even true to begin with." (original).

upyernoz: Rubber Hose 07/21/11

"Platinum Pieces Were Always My Favorite." (history; original).

Mark Kleiman: The Reality-Based Community 07/23/11

"Phony problem, phony solution," (history; original).

Yves Smith: Real News Network 07/25/11

"[T]he US Mint has the ability to issue platinum coins in any denomination." (history; Original).

Joe Firestone: Corrente 07/25/11

[A]n open letter to Congress and the President on getting around the debt ceiling (history; original).

Joe Firestone: Corrente 07/26/11

the President's apparent views on the debt ceiling. (history; original).

Cullen Roche: Pragmatic Capitalist 07/28/11

"CNN is running a story on the various ways the White House could circumvent the debt ceiling issue. One of the options they mention is the platinum coin idea started by MMTers" (original).

Jack Balkin: CNN 07/28/11

"The "jumbo coin" and "exploding option" strategies work because modern central banks don't have to print bills or float debt to create new money; they just add money to their customers' checking accounts." (history; original).

Capt. Fogg: The Reaction 07/28/11

Billion-dollar coins and exploding options -- oh my! (history; original).

Logan Penza: The Moderate Voice 07/28/11

"[P]aragraph (k) was modified to specify platinum coins could be so issued in 2000, by a Republican Congress. (history; original).

Jonathan Chait: The New Republic 07/28/11

"... the coolest (and apparently legitimate) way to avoid a debt ceiling crisis." (history; original).

Matthew Yglesias: Think Progress 07/28/11

"I keep hesitating to write about this because it sounds insane, but Jack Balkin’s a professor at Yale Law School..." (history; original).

Brad DeLong 07/28/11

The President's Obligation to Take Care That the Laws Be Faithfully Executed Requires Him to Start Minting Large-Denomination Platinum Coins. (history; original).

upyernoz: Rubber Hose 07/28/11

Platinum baby, platinum (history; original).

Master of Interesting Links: Mike Norman Economics 07/28/11

The meme that will not die! (history; original).

Tyler Cowen: Marginal Revolution 07/28/11

"Crazy, maybe, but some of the other people involved in this mess are even more crazy." (history; original).

Matthew Yglesias: Think Progress 07/29/11

"[W]ith a little bit of good sense from the Federal Reserve, you could pull this off without anything disastrous happening." (history; original).

Erik Hayden: AtlanticWire 07/29/11

"Days ago, a Yale Law professor wrote an op-ed for CNN that mentioned a crazy-seeming idea..." (history; original).

Paul Krugman: Conscience of a Liberal 07/29/11

"Jack Balkin gives us the platinum coin option:...." (history; original).

Johnsville News 07/29/11

"One creative solution to the U.S. Government's debt-ceiling, which has bubbled up from the progressive MMT (Modern Monetary Theory) economic community, has been called the #trilliondollarcoin meme" (history; original).

Joe Firestone: Corrente 07/29/11

What If a Debt Limit Extension is Voted Down? (history; original).

The Economist 07/29/11

So crazy it just might work ( original).

Ed Harrison: Credit Writedowns 07/29/11

"The coin seignorage idea has really caught on – not just in the blogosphere, but in the mainstream media as well." (history; original).

Seneca Doane: Daily Kos 07/30/11

"We need to tell him that we know that he can mint a platinum coin and end this" (history; original).

Laurence Lewis: Daily Kos 07/31/11

"Balkin's whimsical idea is that the secretary orders the printing of a couple trillion dollar platinum coins" (history; original).

David Weigel: Slate 07/31/11

The Platinum Coin Hysteria of 2011 (history; original).

Beowulf: The Traders Crucible 07/31/11

The US Mint has used coin seigniorage continuously since the Coinage Act of 1792 (in a legal sense, a single $1 trillion platinum coin is the same as trillion $1 coins but with far less expense and effort). (history; original).

Scott Fullwiler: New Economic Perspectives 08/01/11

"Since the platinum coin(s) never circulate(s), minting and depositing the coins at the Fed cannot possibly be inflationary" (history; original).

Ellen Brown: Web of Debt 10/16/11

"'The government could solve its debt problem by just minting some large coins. That there’s no limit on how many coins they can make, and there’s no limit on the face value of the coin. So today, for example, you could stamp out 15 $1 trillion coins and you’d take care of the debt and you’d have a little money left over. And, a number of economists actually picked up on that, and there’s this whole dicussion out there now about how you could solve the problem with some $1 trillion coins which you would then put in the government’s bank account, basically. So you don’t actually ever spend the coins, but you can draw against them, and it’s a way to create money…'" (original; cited by).

Beowulf: Monetary Realism 03/19/12

"VJK argued that because platinum coins are defined as numismatic coins and not circulating coins (such as nickels, dimes, etc.) that means they can only be purchased by collectors (at metal price plus markup) and not the Fed (at face value). This isn’t quite accurate" (original).

David Beckworth: Macro and Other Market Musings 04/18/12

"So how could President Obama have his FDR moment? Like FDR, he should signal his intentions for higher level of nominal spending and follow through on it by having the Treasury Department take take the reigns of monetary policy from the Fed. President Obama could do this by announcing a NGDP level target that would be implemented by the Treasury Department creating large-denomination platinum coins that would be deposited at the Fed and used to fund checks to the public." (original).

Beowulf: Monetary Realism 04/18/12

"Every football fan knows that the prevent defense only prevents you from winning" (original).

Beowulf: Monetary Realism 06/07/12

"People are starting to write about the Trillion Dollar Coin again, which can only mean one thing… Tsy is fast approaching the debt ceiling" (original).

"[A]bout two hours i... 06/14/12

Fracking "[A]bout two hours into the raid … another of the heroes of this story, Deb Eck, Riverdale resident and balls-of-steel leader came out to plead with the activists to stand down, in other words, to end our resistance to the police efforts to evacuate us from the premises."

Warren Mosler: The Center of the Universe 07/19/12

"[T]here are options that allow the executive branch to continue to deficit spend if it wanted to, ranging from issuing a multi trillion dollar platinum coin to spending under cover of the 14th amendment" (original).

Joe Firestone: Corrente 08/01/12

"[T]here would be a spectacular uproar" (original).

Vincent Cate: How Fiat Dies 10/19/12

"Why not have the Treasury mint some $1 trillion coins? This would be very inflationary. Imagine that they instead produced $1 million coins and used them to pay off bonds. People would see the money supply increasing and understand that at some point the value of the money will be going down. So people would stop rolling over bonds" (original).

David Dayen: FDL 12/03/12

"If the President doesn’t go that route [14th Amendment], and he doesn’t direct his Treasury Secretary to mint a $1 trillion platinum coin, then you have a situation where House Republicans have the power to control events" (original).

Joe Weisenthal: Business Insider 12/03/12

"This is really thrilling" (original).

Michael Sankowski: Monetary Realism 12/03/12

Quick and Dirty Update on Platinum Easing Discussions (original).

AEI 12/03/12

"The platinum coin option is a new one on me" (original).

Robert Oak: Economic Populist 12/03/12

"If two $1 trillion coins are legal, is this where America is at?" (original).

Michael Sankowski: Monetary Realism 12/03/12

Trillion Dollar Coin Goes Mainstream: Well, lefty mainstream at least. If Atrios says it, it’s pretty much accepted wisdom on the left in the United States. (original).

James Pethokoukis: AEI 12/05/12

"“How could Washington avoid a debt ceiling default? Mint a few trillion dollar platinum coins. Seriously.” (history; original).

Cullen Roche: Pragmatic Capitalist 12/05/12

"[T]he US Treasury has the legal authority to instruct the US Mint to create a coin of any denomination and simply deliver it to be deposited in the US Treasury account at the Federal Reserve" (original).

Chris Hayers: Rachel Maddow 12/05/12

"The super-awesome trillion dollar coin idea that I kind of love" (history; original).

John Carney: CNBC 12/06/12

"There would really not be any additional inflationary pressures caused by a trillion coin" (original).

Kevin Drum: Mother Jones 12/06/12

"[T]his is so wildly contrary to the intent of the law..." (history; original).

Matthew Yglesias: Slate 12/06/12

"weird, but on a sounder legal basis" [than obviating the debt ceiling][/than] (history; original).

Michael Sankowski: Monetary Realism 12/06/12

Where is the Zerohedge Rant on the Trillion Dollar Coin? (original).

Cullen Roche: Pragmatic Capitalist 12/07/12

"[T]he US Treasury could order the US Mint to create a platinum coin of any denomination, deposit it in the Fed’s account and the Fed could then retire some portion of the national debt in what is essentially an exchange of the bonds they hold for the coin. Then the government spends the money they were already told (by themselves) to spend and we don’t get held hostage by the very same government" (original).

Goldy: The Stranger 12/07/12

Time to Mint the Trillion-Dollar Coin, and Shove It Up Congress's Ass (original).

The American Catholic 12/07/12

"The idea of minting trillion-dollar platinum coins has been a lunatic nostrum of the wacked out left for about a year" (original).

Matthew Yglesias: Slate 12/07/12

The Rooseveltian Precent For Exploiting The Platinum Coin Loophole (history; original).

Beowulf: Monetary Realism 12/07/12

"There was a congressional hearing last week on a bipartisan bill to replace paper dollars with dollar coins. Swell idea I’m sure, however if it passes (probably too late this year but its budgetary savings might get it slipped into a budget deal), Congress would do the scarcely imaginable, it make the Trillion Dollar Coin an even more powerful tool for the Secretary of the Treasury" (original).

Harry Bradford: HuffPo 12/07/12

"Forget political brinksmanship..." (history; original).

Brad Plumer: Washington Post 12/07/12

"That sounds utterly insane" (history; original).

JKH: Monetary Realism 12/07/12

"One option might be for Treasury to buy back Treasury debt now held by the Fed (assuming appropriate available supply from Fed inventory). That would drop utilization under the current debt ceiling by $ 1 trillion, allowing Treasury to “reload” on new Treasury issuance" (original).

Econbrowser 12/08/12

"What would the Treasury do with a trillion dollar coin, you ask? Why, deposit it in their account with the Fed, of course. The Fed would then credit the Treasury's account with 1 trillion dollars" (original).

The Daily Paul 12/08/12

This would be debt free money as I read it (original).

Joe Firestone: Corrente 12/09/12

"The Trillion Dollar Coin Is A Conservative Meme" (original).

Joe Firestone: Corrente 12/09/12

"The Trillion Dollar Coin proposal for solving the debt ceiling problem is again experiencing a blogosphere explosion this past week." (original).

Michael Sankowski: Monetary Realism 12/10/12

"[T]he coin would have much the same impact as traditional quantitative easing. Issuing and using the coin would be just like QE I, QE II, and the ongoing QE III in impact on our system. It could be considered to be Platinum Coin Easing" (original).

Matthew Zeitlin: Daily Beast 12/11/12

"[T]he way Gagnon explains it, the platinum-coin option holds particular appeal because of how few distortionary effects it would have" (original).

JKH: Monetary Realism 12/12/12

Quick and Dirty Update on Platinum Easing Discussions (original).

Atrios 12/12/12

"I really don't know why the administration doesn't take the "mint the trillion dollar platinum coin" option seriously. It is, as far as I can tell, perfectly legal" (original).

Joe Firestone: NEP/Corrente 12/13/12

"An emerging recommendation from some of these posts is for the President to use the TDC option as a threat in the background of his negotiations with the Republicans" (original).

Joe Firestone: NEP/Corrente 12/13/12

"if a $60 T coin option were used, then the debt subject to the limit would be paid off and the debt ceiling would never be an issue" ( original).

Joe Firestone: NEP/Corrente 12/14/12

"[T]heir examination of platinum coin seigniorage in the context of the debt ceiling crisis, and otherwise, is too narrow and superficial too serve us well" (original).

Gary Rathbun: Toledo Free Press 12/16/12

"Platinum is priced at around $1,600 an ounce, so if the Treasury minted a $1 trillion coin either the spot price would go through the ceiling or it would drop to being cheaper than tin." (original).

Global Economic Intersection 12/17/12

"The MMTers dare to utter the heretical view that money is not intended as a store of value, but instead that it is a tool to be used by government to facilitate the exchange of goods and services..." (original).

Paul Krugman: Conscience of a Liberal 01/02/13

"[T]he letter of the law would allow Treasury to stamp out a platinum coin, say it’s worth a trillion dollars, and deposit it at the Fed." (original).

Michael Sankowski: Monetary Realism 01/02/13

"Trillion Dollar Coin Explodes: Krugman, Congress is talking about it" (original).

Jerry Nadler 01/02/13

Capital New York:

Rep. Jerrold Nadler has an admittedly "out of the ordinary" solution to the coming fight over the debt ceiling.

Josh Barro: Bloomberg 01/03/13

"[T]hen he should offer to sign a bill revoking his authority to issue platinum coins -- so long as that bill also abolishes the debt ceiling" (original).

Annie Lowrey: Slate 01/03/13

"The chattering classes have started getting creative" (history; original).

Joe Firestone: NEP/Corrente 01/03/13

"[Carney and Hayes both] see PCS as essentially a band-aid we can put on the debt ceiling problem. They don't see it as something that could introduce a profound change in the background of fiscal policy" (original).

Twitchy 01/03/13

"Rep. Jerrold Nadler, others still pushing for trillion-dollar coin to duck debt ceiling" (original).

Joe Firestone: Corrente 01/03/13

"[The Proof Platinum Coin] demonstrates very clearly that the Government cannot run out of money, and that the claim that it can is not a valid reason for rejecting spending that is in accordance with public purpose" (original).

Michael Sankowski: Monetary Realism 01/03/13

"Krugman does not know it yet, but he will figure out the coin is Platinum Coin Easing" (original).

Hot Air 01/03/13

"Economists love old grandpa coin act as fiscal-cliff solution, or something" (original).

#mintthecoin 01/03/13

#MintTheCoin: Hash tag created by Stephanie Kelton.

Atrios 01/03/13

"It's perfectly legal so just do it, or threaten to anyway" (original).

Mises Daily 01/03/13

"These suggestions should horrify anyone who understands the importance of sound money" (original).

Reid Pillifant: Capital New York 01/04/13

"'My understanding of how this all works suggests that this is a viable alternative,' said Philip Diehl ... who was head of the U.S. Mint from 1994-2000" (original).

New York Sun 01/04/13

Editorial: "The Platinum Coin Trick" (original).

David Frum: Daily Beast 01/04/13

"I'd enjoy seeing a trillion dollar coin minted purely for the deservedly righteous indignation such an overstep would create" (original).

Dylan Matthews: Washington Post 01/04/13

"[Rep. Michael] Castle’s interest [in P.L. 104-208] [/in]was in producing income from seignorage (that is, the profit collected by the government by minting coins or printing paper money that is worth more than it costs to produce) as a means of reducing the deficit" (original).

Bonnie Kavoussi: HuffPo 01/04/13

"White House Petition Pushes For Trillion-Dollar Platinum Coin" (original).

JREF 01/04/13

"With platinum coin seigniorage, the US government is capable of issuing new currency, without any corresponding debt; the only hindrance to this, is political" (original).

L. Randall Wray: EconoMonitor 01/04/13

"But once a budget is approved, why on earth would we want to prevent the Treasury from keystroking the necessary balance sheet entries in accordance with Congress’s approved spending?" (original).

David Weigel: Slate 01/04/13

"John Boehner Not Entirely Convinced by "Platinum Coin" Solution" (original).

Ryan Cooper: Washington Monthly 01/04/13

"It’s striking especially that [Heidi] Moore doesn’t treat the people threatening to hold the US economy hostage to extract unrelated policy concessions with the same disdain she shows for the people trying to cook up a workaround. I agree, minting trillion dollar coins sounds silly. But hitting the debt ceiling would be deadly serious, and doing silly-sounding things is a small price to pay for avoiding pointless economic crisis" (original).

Joshua Holland: Alternet 01/04/13

"[D]o it, and let the chips fall where they may" (original).

William Wei: Business Insider 01/04/13

"[E]verything you need to know about the #MintTheCoin movement" video (original).

John Carney: CNBC 01/04/13

"So the question that is relevant for us here is whether or not the law that authorizes the creation of platinum coins by the U.S. Treasury lays down an "intelligible principle" to which the Treasury is directed to conform" (original).

Kevin Cirilli: Politico 01/04/13

"[Nadler] continued: “I’m being absolutely serious. It sounds silly but it’s absolutely legal. And it would normally not be proper to consider such a thing, except when you’re faced with blackmail to destroy the country’s economy, you have to consider things" (original).

John Carney: CNBC 01/04/13

The relevant test here is whether or not the Congressional delegation of authority is accompanied by an "intelligible principle" by which the agency can guide its decision-making. (original).

Tyler Durden: Zero Hedge 01/04/13

"[A]ll the advocates of this insidiously stupid idea which gets a new life every time there is a debt ceiling crisis, are doing, is arguing for a massive devaluation of the dollar: because for the trillion dollar coin idea to be even remotely plausible, the price of Platinum, and by implication the entire precious metals complex, would have to go up by a factor of some 1,100" (original).

Lauren Lyster: Yahoo Finance 01/04/13

"Has #MintTheCoin chatter over creation of trillion $ platinum coin re: debt ceiling reached West Wing? #FiscalCliff411"

Michael Sankowski: Monetary Realism 01/04/13

The Empire Strikes Back… (original).

Charles Riley: CNN Money 01/04/13

"[N]one of this requires Congressional consent. Talk about an elegant solution" (original).


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