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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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  •  FINALLY some sense in this thread! (5+ / 0-)

    Thank you.

    Making an argument based upon the politics fails to address the actual, real monetary and economic issues which are confronting the WH and Treasury.

    In addition to rendering ALL of the GOP arguments related to the economy impotent, see details here, which is the perfect political reason TO implement PCS, it would also resolve the major economic threats facing us and give us the needed capital to address things like climate change and infrastructure. The only reason not to do it would flow from fear, a lack of understanding about what it really is or from a desire to always do things the way they have always been done (gold standard anyone?)

    My signature line, below, offers insight into why I first started to think about PCS in terms of this issue but diving in deeply and learning much, much more is the reason I have stuck with it.

    "When in doubt, do the brave thing." - Jan Smuts

    by bunnygirl60 on Fri Jan 11, 2013 at 09:56:01 PM PST

    [ Parent ]

    •  You're welcome! (1+ / 0-)
      Recommended by:
      gooderservice

      I'm still unsure about PCS as the source of massive capital for revamping our infrastructure, etc., though I don't have an knee-jerk or immediate opposition to the idea.

      I'm entirely in favor of PCS as a way of getting out of this crappy trap the Republicans keep putting us in.

      I feel strongly that no matter what we choose to support, the argument "But it'll make us look stupid b/c nobody's ever done it before" should be the last thing we listen to.

      if necessary for years; if necessary, alone

      by SouthernLiberalinMD on Fri Jan 11, 2013 at 10:24:22 PM PST

      [ Parent ]

      •  If you haven't read them, letsgetitdone has (5+ / 0-)

        amazing, fact based, diaries on the subject that may be of help. I have written two that are, essentially, the "For Dummies" version and I have another coming tomorrow which discusses the policy space created by the larger version of the PCS idea. (Not to pedal diaries, just to suggest in case you are looking for information.)

        "When in doubt, do the brave thing." - Jan Smuts

        by bunnygirl60 on Fri Jan 11, 2013 at 10:37:55 PM PST

        [ Parent ]

      •  How is it any different really (2+ / 0-)
        Recommended by:
        katiec, dorkenergy

        that traditional debt instruments that also cost interest on top of the actual principal amount raised for Gov. spending?

        The only "threat" in PCS is that it eliminates the profitable (for the banks) treasuries market and destroys the basic premise behind austerity public policy as a needed and valid positions.

        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 03:59:10 PM PST

        [ Parent ]

    •  Tim Duy's take on this (0+ / 0-)

      Tim Duy has an interesting take on this – On The Disruptiveness of the Platinum Coin

      “The platinum coin idea was ultimately doomed to failure because neither the Federal Reserve nor the Treasury could allow for even the remote possibility it might be successful”

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