Jack Balkin, a Yale Law prof, has a weird idea for solving the debt crisis. He says the law sets no limit on the amount of currency the US Mint can float, provided it produces the currency in the form of platinum coins. So:
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.
3 ways Obama could bypass Congress
(Thanks, Fipi Lele!)
(Image: platinum eagle re-mix, a Creative Commons Attribution (2.0) image from sirqitous's photostream)
