The secret of Platinum $PPLT

T-pain-gold-grillz

 

According to a post [3 ways Obama could bypass Congress] by Jack M. Balkin, Professor of Constitutional Law at Yale Law School, in the event that the US Congress doesn´t reach an agreement to raise the debt ceiling… Here´s one of the alternatives:

 

 

Suppose, however, that the tea party gets its way, and the debt ceiling is not increased. What are President Barack Obama’s options?

We are having a debt-ceiling crisis because Congress has given the president contradictory commands; it has ordered the president to spend money, and it has forbidden him to borrow enough money to obey its orders.

Are there other ways for the president to raise money besides borrowing? Sovereign governments such as the United States can print new money. However, there’s a statutory limit to the amount of paper currency that can be in circulation at any one time.1

Ironically, there’s no similar limit on the amount of coinage. A little-known statute gives the secretary of the Treasury the authority to issue platinum coins in any denomination. So some commentators have suggested that the Treasury create two $1 trillion coins, deposit them in its account in the Federal Reserve and write checks on the proceeds.

(the bold is mine)

 

I´ll keep $PPLT at hand.

Pplt2

 

 

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