Skip to main content

View Diary: GOP congressman accidentally admits President Obama could legally mint the trillion dollar coin (116 comments)

Comment Preferences

  •  No, it isn't a tacit admission of anything (2+ / 0-)
    Recommended by:
    Shane Hensinger, Bonsai66

    except that there is some ambiguity in a law.  If the interpretation of laws was only a matter of the letter of the law then you would be right, but that isn't how it works.

    However, there is no prohibition on the Treasury Department minting a trillion dollar coin.
    There are numerous prohibitions on the Treasury minting a trillion dollar coin.  In fact there is a small bit of ambiguity in a bill that was passed to allow the treasury to mint collectible coins that makes it allowable under the letter of the law, but the letter of the law is not the only thing the court looks at.  The Treasury is explicitly barred from minting a copper coin, or a gold coin, or any other kind of coin that's a trillion dollars, and they are implicitly barred from doing the same with a platinum coin.
    This appears to be completely constitutional and in accordance with current law.  If anyone is considering further (unconstitutional) legislation to prevent the trillion dollar coin, then they are admitting that the trillion dollar coin is a legal option.
    If you think that this legislation would be unconstitutional then you clearly don't know what you're talking about, nor do you understand what law supposedly makes it legal to mint a trillion dollar platinum(and only platinum) coin.

    The revolution will not be televised. But it will be blogged, a lot. Probably more so than is necessary.

    by AoT on Mon Jan 07, 2013 at 03:30:16 PM PST

    [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site