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Platinum Coin Seigniorage

Presto Vivace (882157) writes | about a year and a half ago

Government 0

Presto Vivace writes "Beyond the MSM: the New Wave of Brief Blog Posts on Platinum Coin Seigniorage

About that, I can only say that PCS gives to the presidency the power to prevent an abuse of power by the Congress, namely the debt ceiling legislation itself, and also gives the President the power to avoid interest bearing debt instrument-based financing of Congressional deficit spending appropriations if he/she desires. I think both of these are very good things, especially since the key power of controlling the purse strings still remains with the Congress, and not with the President. It seems to me that any greater leverage that falls to the President as a result of using PCS is leverage that can always seized back by Congress anytime it wants to do its collective job and represent the majority of the American people. On the other hand, if it wants to continue to represent narrow and plutocratic interests seeking to block any Federal spending that doesn't directly benefit them, then PCS profits may be viewed as a check on such an abuse of power by the Congress, and a reminder to Congress that the "how are we gonna pay for it" excuse for not legislating Federal programs people desperately need won't work anymore!

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