Former US Mint director Philip N. Diehl, co-author of the law authorizing minting of platinum coins at the executive branch’s discretion, speaks to legal and practical concerns regarding #MintTheCoin. In short, there’s little inflation risk; the accounting treatment moving money between the Treasury and the Fed “is entirely routine”; and since Congress wrote the law, court challenges are unlikely to succeed. The real problems are entirely political. But if you support #MintTheCoin “as much for the possibility of making it 16 feet tall and engraved with the runes from Zep IV as for its policy merits,” that probably doesn’t bother you.
Former US Mint director addresses legal concerns with trillion-dollar coin proposal
Follow topics and authors from this story to see more like this in your personalized homepage feed and to receive email updates.
