The platinum coin option.

January 11, 2013 in Coins, Platinum Coins, Politics, USA Coins

Toss a coin.

A crackpot idea to circumvent America’s debt ceiling gains currency

Jan 12th 2013 | WASHINGTON, DC | from the print edition ( (The Economist)

ARCH-CONSERVATIVES have long prescribed a return to the gold standard as the answer to America’s fiscal and monetary excesses. Now liberals are looking to precious metals to solve a fiscal bind.

Sometime between mid-February and early March, the Treasury will run out of legal authority to issue new debt. Republicans in Congress say they won’t raise the debt ceiling without big spending cuts; Barack Obama says he won’t negotiate over the country’s creditworthiness. Unless the impasse is broken, the Treasury will have to renege on billions of dollars of spending commitments—including, possibly, bond-interest payments.

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