Trade with Dave: Technically speaking it would be a “two-upping” of Max. Forget Crash JP Morgan ~ Buy Silver, that’s small potatoes. Forget the Basel III gold as money meme and a fractional Fekete Tier 1 capital status, that’s old news. How about Crash Global Confidence ~ Mint Platinum? Krugman in the NY Times calls the trillion dollar platinum minting seigniorage gimmick a “pretty good case.”Krug raps his case for America’s Top 40 debt hits like Casey Kasem spins platinum
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
(photo: Alan Light-Flickr)
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