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View Diary: Of Blazing Saddles and platinum coins: Why minting a $1 trillion one is neither smart nor necessary (216 comments)

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  •  Eh. (7+ / 0-)
    It would give the Republicans an easy out from the trap they have set for themselves by threatening to take the U.S. financial markets and economy hostage.

    It would change the subject from the threat of a financial meltdown to the methods the POTUS has taken to prevent that meltdown.

    I agree with both of these, but not as consequences for actually minting the coin. Assuming default, the consequences of not minting the coin would be disastrous. The "consequence" would be avoiding disaster, in that case. And if there's no default, no coin would be minted.

    What you list are consequences of TALKING about minting the coin, and having it being seen as a viable alternative to default. Unfortunately, it IS a viable alternative to default, and you can't stop people talking.

    So, it is what it is. I say: embrace the non-disastrous choice and seek to explain why it's not insane.

    it fitfully blows, half conceals, half discloses

    by Addison on Fri Jan 11, 2013 at 06:14:05 PM PST

    •  Exactly so. (1+ / 0-)
      Recommended by:
      dorkenergy

      They could have upped the political pressure without having slammed the door on the only viable solution if the GOP follow through on their kamikaze plan and drive us to default.

      cheers,

      Mitch Gore

      Want to end too big to fail banks? Then move your money and they will no longer be too big.

      by Lestatdelc on Sat Jan 12, 2013 at 04:05:21 PM PST

      [ Parent ]

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