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Tuesday, December 11, 2012

Very interesting.

1 comment:

JimG said...

The trillion dollar coin has been discussed extensively for the past couple of years in the MMT and MR blogosphere as a perfectly legal and convenient, although controversial, end-around to the ludicrous tax and cut proposals coming out of Congress and the White House. Modern Monetary Theory and Monetary Realism sites do a very good job of debunking the fiscal crisis and presenting convincing arguments for maintaining federal deficit spending, for not balancing the federal budget, and for viewing the so-called federal debt as nothing more than an accounting of net federal money spent over all time rather than debt for which the Treasury can't pay. Further, they drive home that the federal government is never threatened by involuntary insolvency and that federal taxes are not required for funding federal spending. These viewpoints seem nearly irrefutable. I would love to see the platinum coin issued and the political posturing silenced.