It's all politics aboard the U.S.S. Ponzi.
As a card-carrying Keynesian proselytizer, Joe Weisenthal is
generally not willing to consider spending cuts, so Friday on CNBC he
attempted to make the case for the $1 trillion platinum coin as a means
for Obama to avoid a debt ceiling showdown with Republicans.
Joe makes his full case here...
Now, putting the sheer legal idiocy of the proposal aside, and CNBC's John Carney has written a good article about why it is indeed, legal idiocy,
the simple reality is that for this retarded idea to work, there has to
be some justifiability, or even remote credibility of the "legal
tender" backing the value. Sadly as the chart above shows, there can't
possibly be such justifiability. Unless...
So you want a trillion dollar platinum coin? Ok: here are some facts...
Bank Of America On The "Trillion Dollar Tooth Fairy" Straight "From The Land Of Fiscal Make Believe" | Zero Hedge
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