Gabriel Major’s conclusion: “the platinum coin trick an unnecessary idea and a bad one, but it is not, as some have argued, unconstitutional or illegal.” I agree on all counts: granted, the platinum coin trick should be both unconstitutional AND illegal, but this is the world that is, not the world as it should be.
I still don’t really think that the President is dumb enough to let this happen, but then I am an eternal optimist and Pollyanna. It’s entirely possible that this will be tried, with all of the harsh results (credit downgrade and vicious inflation) to follow. That it would also stake through the heart any nonsense that President Barack Obama is not a blithering nincompoop trying to get closure on the way both his parents rejected him doesn’t exactly make up for it…
“That it would also stake through the heart any nonsense that President Barack Obama is not a blithering nincompoop…”
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One would hope, but I though we reached that point 2 years ago and here we are.
I just read this, this morning, which makes a decent argument that the trillion-dollar coin is not legal, and points out that the Fed could challenge it and tie it up in court at the very least:
http://justoneminute.typepad.com/main/2013/01/hes-ready-for-the-clown-suit.html
Yes, but ..
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When does Ben B’s term end again?
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Who gets to pick the next guy?
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Mew
I do not expect the President to finish this term before he destroys the dollar as a unit of international currency. I do not think he necessarily wants to I just think he’s clueless.
Imagine the outcome of the “platinum coin” and an executive order on guns…
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Interesting times, in the worst sense of the phrase.
I still don’t really think that the President is dumb enough to let this happen …
Why? Because it would harm the United States? That’s the point!
No, because it would make him look like an idiot.
For that reason alone, it won’t happen.
Slate is worrying that the trillion-dollar-coin gambit could backfire on Obama and lead to impeachment:
http://www.slate.com/articles/news_and_politics/view_from_chicago/2013/01/the_platinum_coin_poses_a_risk_of_impeachment_for_president_obama.html