LOL It gets worse.
http://en.wikipedia.org/wiki/Legal_Tender_Cases Yes, I know teh wikipediaz can be wrong, but the linked article states, "The Federal Reserve System can authorize as much paper money as it sees fit, but the U.S. Treasury is restricted by law to a certain maximum amount of coinage in circulation." This could be consistent if we distinguish the *number* of notes/coins in circulation from the *value* of the notes/coins. But still. On Sat, Jul 30, 2011 at 6:34 PM, Jeffrey Fisher <[email protected]>wrote: > Right. I just found this myself, trying to track down the law that limits > the paper money in circulation. > > Bizarre. > > On Sat, Jul 30, 2011 at 6:32 PM, socialismorbarbarism < > [email protected]> wrote: > >> The key law is apparently something called ยง 5136. United States Mint >> Public Enterprise Fund, which was issued in 1996: >> >> http://www.law.cornell.edu/uscode/31/usc_sec_31_00005136----000-.html >> >> This specifically exempts new US Mint issues from counting toward the >> debt. >> > >
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