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View Diary: Economics Daily Digest: Learning to love the platinum coin (26 comments)

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  •  Can we use Platinum coins to fully fund things? (1+ / 0-)
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    Words In Action

    Especially when the Congress fails to?

    Happy little moron, Lucky little man.
    I wish I was a moron, MY GOD, Perhaps I am!
    —Spike Milligan

    by polecat on Tue Jan 08, 2013 at 07:57:40 AM PST

    •  No - that's not the point (2+ / 0-)
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      glorificus, DRo

      The point is that through a fully Constitutional process, the Congress (as elected) has agreed to fund/pay for programs at the levels it voted for them -

      the 14th Amendment compels the Executive Branch to make good on the debts and obligations of the U.S.

      Hence, the Executive can coin money to pay what Congress has already agreed to pay for.  It can't go back and add money to programs not fully funded by Congress.

      The object of persecution is persecution. The object of torture is torture. The object of power is power. --George Orwell

      by jgkojak on Tue Jan 08, 2013 at 11:46:44 AM PST

      [ Parent ]

    •  all coins are currency by fiat (1+ / 0-)
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      they do not have inherent value.

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