Krug raps his case for America’s Top 40 debt hits like Casey Kasem spins platinum
(photo: Alan Light-Flickr)
I know it’s hard to believe, but Paul Krugman is weighing in with his New York Times piece on the government’s platinum coin seigniorage strategery. Sometimes I can’t even believe it myself that some of these outlandish topics that I cover are actually getting traction. This idea for accruing the seigniorage of two platinum coins minted in an effort to balance the budget is the biggest financial fiasco I have ever heard of. If you didn’t know about it before now, here’s some back story.
As Dave stated previously:
“It would matter big time when you’re talking about Seigniorage because since coins are issued by the U. S. Mint rather than by the Federal Reserve the seignoirage accrues to all the people which has great political appeal.”
Krugman on his “pretty good case” for gimmicks: http://krugman.blogs.nytimes.com/2013/01/02/debt-in-a-time-of-zero/
…. and it’s gone.
Trade the False Dichotomy: http://tradewithdave.com/?p=14279
Pete Peterson’s Two, Two, Two Mints In One: http://tradewithdave.com/?p=14057
No Stinkin’ Badges Required: http://tradewithdave.com/?p=7228
A Sack of Something: http://tradewithdave.com/?p=9935
Coin Seigniorage Not Inflationary: http://tradewithdave.com/?p=9915
The Platinum Play-By-Play: http://tradewithdave.com/?p=14193
What the road to good intentions is paved with: http://tradewithdave.com/?p=14106
UPDATE: Supposedly here’s original source info on where the idea for a platinum coin seignorage started: http://neweconomicperspectives.org/2012/12/origin-and-early-history-of-platinum-coin-seigniorage-in-the-blogosphere.html
Coincidentally Rep. Jerrold Nadler weighs in his support for the seniorage solution: http://www.capitalnewyork.com/article/politics/2013/01/7052758/looking-next-debt-ceiling-fight-nadler-proposes-trillion-dollar-coi