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platinum coin to solve debt problem?@!
Posted: Fri Dec 07, 2012 4:13 pm
by murphy_p_t
Re: platinum coin to solve debt problem?@!
Posted: Fri Dec 07, 2012 4:28 pm
by MediumTex
I think that Gumby has touched on this topic in the past.
Re: platinum coin to solve debt problem?@!
Posted: Fri Dec 07, 2012 4:36 pm
by melveyr
I love this. It highlights how manufactured our "debt crisis" is.
Re: platinum coin to solve debt problem?@!
Posted: Fri Dec 07, 2012 4:50 pm
by Pointedstick
Vis-a-vis the debt, There's no "problem" to solve. The real problem is with private sector balance sheets, not government debt.
Re: platinum coin to solve debt problem?@!
Posted: Fri Dec 07, 2012 7:28 pm
by moda0306
I love blowing peoples' minds with this stuff.
Re: platinum coin to solve debt problem?@!
Posted: Fri Dec 07, 2012 9:17 pm
by Gumby
Interestingly, enough people have had time to think about the logistics and a lot of people now realize that it wouldn't be inflationary. Cullen Roche explains...
http://pragcap.com/platinum-coin-easing
The idea was originally theorized on Cullen's blog by one of his commenters, "Beowulf" (aka, attorney Carlos Mucha).
Of course, it would only be used as a last resort — an escape hatch if all else fails. And, I'm sure it would set off a wave of lawsuits. It's not ideal because it shows the ridiculousness of our monetary system.