the Platinum option

Discussion in 'Economy' started by sparky, Jul 31, 2011.

  1. sparky
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    sparky VIP Member

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    The Platinum Coin Option | ThinkProgress


    Sovereign governments such as the United States can print new money. However, there’s a statutory limit to the amount of paper currency that can be in circulation at any one time. Ironically, there’s no similar limit on the amount of coinage. A little-known statute gives the secretary of the Treasury the authority to issue platinum coins in any denomination. So some commentators have suggested that the Treasury create two $1 trillion coins, deposit them in its account in the Federal Reserve and write checks on the proceeds.

    interesting.....
     
    Last edited: Jul 31, 2011

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