"Yes, yes, I get all that. What I don't understand is: Why a *coin*? Why, in the absence of a law specifically banning the issuance of paper, is this necessary? Why not paper? Or even, you know, a change in electronic information that says the money has been issued?
The scary feeling I get says this is the reasoning: We can't issue *paper* because paper is insubstantial, fragile, ultimately meaningless. We must issue a *coin* because a coin is heavy, substantial, durable, pretty, shiny, "real." In other words, it is magical thinking of the most laughably primitive sort. But it's not being pushed by right-wing cranks, it's pushed by some of "our* people, so it is a good idea. Is that the explanation?" the issuance of paper is tied to issuing public debt.i think you're missing the point. it's not that anyone things issuing paper is unsafe but issuing coins isn't. the point is that this debt ceiling is a barbarous relic left over from the gold standard (ha! see what i did there?) and anyway around it is a positive thing. -- -Nathan Tankus ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
