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View Diary: Harvard Law Professor Laurence Tribe: The coin would be perfectly legal (74 comments)

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  •  Ironically (0+ / 0-)

    The best counter argument to that comes from Tribe:

    Congress would violate the Const by not raising it, but that's not a delegation of power tomthe treasury to raise debt unilaterally, and I think the coin thing, while one might get away with it, is also not a good interpretation of the statute.  The purely literal reading only works in isolation of both other laws and rule of law ideals.  It, like anything else, still requires a theory of interpretation and a "story," so "don't like it, wrote a better statue," just can't be sustainable as a general maxim, not when there is such strong evidence the statute wasn't meant for this purpose (creating, in my view, implicit limitations from surrounding code sections).  It's a tactic of not asking questions because you don't like the answers.  Just look at the contrast in method between the op-Ed and the email above.  In brief, "it's unseemly" is actually a legal argument, not just a political one, an I'm actuallt coming around on the economics, IF one believes this can only be used once.

    To the other point, you still need enough platinum to make it bullion.  At minimum, requires advanced planning.  I know perfectly well it doesn't have to be $1T worth.

    Appreciate slow news cycles, but I just hope when this doesn't happen, and the next fiscal cliff deal isn't perfect, we can be spared the second guessing about why he didnt mint the coin.  That's the real concern.

    Difficult, difficult, lemon difficult.

    by Loge on Wed Jan 09, 2013 at 09:18:32 PM PST

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