To my mind, issuing consols as JP Koning suggests is the simple solution and to be preferred over the coin, which has no precedent and appears gimmicky. In addition, he points out that consols fir with existing Fed policy and operations whereas the coin does not.
However, my preferred solution would be for the president to order the treasury secretary to ignore the debt ceiling as contradicting previous legislation without repealing it. Then there is also the Fourteenth Amendment.
Short and worth a read in full.
MoneynessWhy I prefer perpetual/premium bonds to the platinum coin
JP Koning
What’s funny is all of these people are Art degree lawyers and then they won’t use the court system to adjudicate these legal contradictions…
ReplyDeleteHas to make a non Art degree person question their basic competency as human beings.., 🤔