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Sun Jan 13, 2013, 08:45 AM

U.S. Treasury: $1 Trillion Platinum Coin Is Not An Option

This discussion thread was locked as off-topic by OKNancy (a host of the Latest Breaking News forum).

Source: TPM


IGOR BOBIC, SATURDAY JANUARY 12, 2013

In a blow to the movement's supporters, the U.S. Treasury announced Saturday that it would not mint a $1 trillion platinum coin in order to ensure the nation's creditworthiness should Congress fail to raise the debt ceiling.

”Neither the Treasury Department nor the Federal Reserve believes that the law can or should be used to facilitate the production of platinum coins for the purpose of avoiding an increase in the debt limit,” said Treasury spokesman Anthony Coley in a statement obtained by TPM.

The White House has also previously ruled out invoking the 14th Amendment to bypass Congress and raise the debt ceiling unilaterally.

"There is no backup plan," said White House Press Secretary Jay Carney earlier this week. "The only option is for Congress to do its job."

-snip-

Read more: http://livewire.talkingpointsmemo.com/entry/us-treasury-1-trillion-platinum-coin-is-not

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Reply U.S. Treasury: $1 Trillion Platinum Coin Is Not An Option (Original post)
DonViejo Jan 2013 OP
tanyev Jan 2013 #1
Old Union Guy Jan 2013 #2
Ash_F Jan 2013 #3
muriel_volestrangler Jan 2013 #4
OKNancy Jan 2013 #5

Response to DonViejo (Original post)

Sun Jan 13, 2013, 08:49 AM

1. Made for a good right wing freakout, though.

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Response to tanyev (Reply #1)

Sun Jan 13, 2013, 08:53 AM

2. Which means that Krugman and the New York Times were basically just trolling. n/t

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Response to DonViejo (Original post)

Sun Jan 13, 2013, 08:59 AM

3. I guess we always go back to pleading with the Republicans for mercy. /nt

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Response to DonViejo (Original post)

Sun Jan 13, 2013, 08:59 AM

4. already posted - duplicate of

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Response to DonViejo (Original post)

Sun Jan 13, 2013, 09:02 AM

5. locking as a duplicate

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