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American Prospects

The Clear Legality of the Platinum-Coin Solution

January 9, 2013

It's likely that early this year we will once again see another debt ceiling crisis, with Republicans in Congress threatening the credit of the United States in order to win unpopular policy concessions. One increasingly popular idea for getting out of this cycle of hostage-taking is for the president to mint a trillion-dollar platinum coin that would allow the federal government to meet its outlays even if Congress refuses to lift the debt

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