2 ms·
If the US Treasury did that, it would be illegal. The coin thing is a hack that would probably be challenged in court, because it's illegal for the Treasury to
by kolbe 8y ago
If the US Treasury did that, it would be illegal.
The coin thing is a hack that would probably be challenged in court, because it's illegal for the Treasury to arbitrarily print money, except when it's silver.
So, you're not wrong in that the treasury can physically do those things, but it's in the same way that you wouldn't be wrong if you claim North Korea can do the same by illegally counterfeiting endless dollars.
- dragonwriter 8y ago> The coin thing is a hack that would probably be challenged in court, Probably on some basis, but it would also probably survive the kind of challenge you describe. > because it's illegal for the Treasury to arbitrarily print money, except when it's silver. Platinum, actually, not silver. [31 USC § 5112(k)] Which is why minting the coin as a platinum coin was an essential component of the idea.
- freeone3000 8y agoWhy wouldn't north korea counterfeit endless dollars in order to get a liquid cash supply? It sounds like a pretty great plan.