On Jul 27, 2011, at 10:34 PM, Doug Henwood wrote:
>
> On Jul 27, 2011, at 6:25 PM, Anthony Kennerson wrote:
>
>> This is an idea that has been getting some steam among some progs/
>> lefties.
>>
>> Basically, the idea is that the President would order the Fed to
>> mint a
>> platinum coin, load it up with an extraordinary value -- as in, the
>> TRILLIONS of dollars -- and them use it to swap out for Treasury
>> notes of
>> the same value, which would be used to pay off the debt obligations
>
> I just finished editing an interview I did with Brad DeLong for
> Sat's radio show. He brought this idea up, and said it was a
> possible silly solution to a silly problem.
He'd say that, of course. But the "problem" isn't silly, it's *stupid*, and the "solution" has profound merits beyond the present manufactured Disaster Capitalism Crisis.
Shane Mage
"scientific discovery is basically recognition of obvious realities that self-interest or ideology have kept everybody from paying attention to"