Platinum Coin Legality Discussions Abound
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January 6, 2013 - 1:16am
Econintersect: Lawyers, journalist and bloggers are having a field day discussing the proposal that the U.S. Treasury should engage in seigniorage as authorized by the literal reading of 31 USC § 5136 and 31 § 5134. A review of the discussions has been posted by Joe Firestone at New Economic Perspectives and reposted simultaneously with this News story at GEI Opinion. One of the most frequent detractors for the idea is John Carney of CNBC who has said: "Sorry Folks, The $1 Trillion Coin Is Unconstitutional." Yesterday GEI News covered some of the chatter on this topic. The discussion devolves to one regarding the constitutionality of the debt ceiling law as a counterpoint to the position that John Carney (and others) have espoused, and then ultimately to the question of constitutionality of the nation's money system itself.
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