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View Diary: The President's Rationalization and Obligation, Part II: Coins, the 14th, and Consols (52 comments)

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  •  Maybe it's time to give up. (0+ / 0-)

    Some people get something in their head and no matter what theyll never back own or reconsider.

    •  So your 'solution' is doing what? Nothing? NT (1+ / 0-)
      Recommended by:
      wigwam
      •  Each of us laymen doesn't have to (0+ / 0-)

        pick a solution, even if it is a stupid one. Whether or not you or I come up with a solution won't change what actually happens in DC one bit. It sounds like you think you have to have a solution, so it's got to be one of these idiotic ones, because after all, we all MUST have a solution. Not so though.

        •  Exactly what is "idiotic" about these proposals? (1+ / 0-)
          Recommended by:
          psyched

          I've heard some rational arguments as to why the 14th Amendment is a nonstarter but nothing convincing against platinum-coin seigniorage or premium treasury bonds.  And all you've offered is a label.

          •  I'm hesitant to continue this pointless (0+ / 0-)

            conversation, as we are going nowhere. I'll leave you with the following information, which I anticipate you will not understand.

            The legal aspects of these solutions are controversial, but even if a solution in the end is legal, that is NOT enough. The market (the bond market) must accept a solution for it to be a solution. And the bond markets don't work that way. Any bonds issued during this period would not trade as a normal T-bond, rendering the whole idea moot.

            •  PCS doesn't involve the bond market. (0+ / 0-)

              Besides that, the Fed controls the interest rate on the bond market, i.e., the price at which bonds sell.  

              But you knew all that already.

              •  The fact that you think that the (0+ / 0-)

                Fed controls the price at which bonds sell, and yet you think you are so smart that you cannot learn from others here, is just sad.

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