Let's assume that Treasury minting a $1 trillion platinum coin is legal.
Now let's fast-forward to the year 2017. Another GOPer with the last name of Bush is President. The democratic Congress is blocking his plan to lower the tax rates on all earnings over $1 million to 5 percent. So he has the Treasury mint 1 million $1 million platinum coins and starts handing them out to his friends, cronies, and supporters.
It seems to me that would have to be equally legal.
In other words, this might be a classic case of "be careful what you wish for." Am I wrong?
I'm on Linked In and Twitter (@captivelawyer). Silver Oz's Linked In name is @silver_oz. NDD is a fossil and may be reached by etching a picture in stone on the wall of a cave.
The Bonddad Economic History Project
At the beginning of 2012, I decided to start looking at the actual, statistical history of the US economy starting in 1950. The reason is simple: to find out what really happened. So, when you see title of a post that begins with a year such as 1957, followed by "employment" or "Fed policy: you know what it's for. You can also access the information by typing in BE for Bonddad econ and a year to find information on a particular year.
Here is a link to pages that contain links to all the posts on the years listed.