Saturday, January 12, 2013

Of Blazing Saddles and platinum coins: Why minting a $1 trillion one is neither smart nor necessary

Cleavon Little in Blazing Saddles By now I'm sure you've probably heard more than you want to know about the platinum coin'although if you like learning fancy new words, you have to admit, 'seignorage' is a pretty cool one.

But I want to take a few minutes to explain why I think minting a $1 trillion quarter and then having the Treasury secretary pretend to yank it out of Ben Bernanke's ear is not such a good idea'and might be a really stupid one politically.

(Continue reading below the fold.)

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