Whatever else one might say about the Trillion Dollar Coin, it would certainly set the stage for the ultimate heist movie. Maybe an “American Buffalo” needs Mamet, but this would write itself. In my version, a disgruntled Treasury worker swallows the coin, then goes on a hunger strike, holding the economy hostage until his demands […]
Tag Archives | Debt Ceiling
The Trillion Dollar Coin and the Problem of Circulation
By Eugene Kontorovich on January 9, 2013 5:51 pm in Congress, Constitutional Law, Finance, Originalism, Separation of Powers, Uncategorized
“Everyone loves money. That is why they call it MONEY.” – David Mamet. The trillion-dollar coin is a proposal to avoid the debt ceiling through a loophole in a federal statute that authorizes the U.S. Mint to coin platinum in any denomination. Platinum is reserved for commemorative issues, and the obscure statutory provision was certainly […]