It occurs to me that when the GOP rolls over and raises the debt ceiling – and it will roll over – the effect will be identical to minting the coin, just without the coin.
Since the GOP will roll over anyway, we should probably be rooting for the minting the coin. At least the coin would produce noticeable stench of which even econ-muggles would get a whiff. For the first time, it would become evident to man-on-the-street the manner in which fiat currency is just congered up out of thin air.
It would be an act of monetary vandalism that would, for the first time, be evident to low-information voters. That cannot be a bad thing. Otherwise the GOP will vote to do the same thing without the reeking symbol of Obama excess.Share