The birth, and the apparent death, of
the trillion dollar platinum coin idea may one day be recalled as a mere
footnote in the current debt crisis drama. The ultimate rejection of the idea
(which was to use a loophole in commemorative coinage law to mint a platinum
coin of any denomination) by both the the President and the Federal Reserve
seems to offer some relief that our economic policy is not being run by
out-of-touch academics and irresponsible congressmen.
In reality, our government has been
creating more than one trillion dollars out of thin air every year for the past
five. The only difference is that the blatant dishonesty of a trillion-dollar
platinum coin is so easy to understand that the public simply couldn't be
expected to swallow it. The American people are more than willing to be fooled,
but they won't tolerate so simple a ruse.
People have a long and intimate history
with coins. Some of us collected them as kids, and we all touch and see them
every day. Unlike currency bills, we know intuitively that a coin's value is
supposed to come from its metal content. That's why quarters are bigger than
dimes. As a result, most people have…
Source: Town Hall
No comments:
Post a Comment