modern monetary theory
A new wave of agitators in the realm of monetary systems has emerged.
The fact that the government is utterly financially unconstrained in just the way Trump noted today is the hugest, most subversive Truth he has told to date. And of all the truths he has ever told, it is the one that libertarians should be proclaiming the loudest.
It's the economy, stupid.
If the debt ceiling causes a default or government shutdown and becomes a campaign issue in the 2016 election, there are some signs that the coin could be taken seriously by the Democratic front-runners for president.
The re-shuffle of the last U.S. election that put austerity-minded Republicans in power has ironically resulted in a new anti-austerity economist being hired by Senator Bernie Sanders in the Senate Budget Committee.
What do the president, the party leaders, all members of Congress, all the headline economists (both hawks and doves), the entire Federal Open Market Committee, and just about everyone else apart from Modern Monetary Theory (MMT) proponents agree on?
Is the trillion dollar coin sustainable? If it helps inspire ideas to solve the planet's economic and ecological problems, it sure can be.
As the Vatican learned with Galileo, the truth has a way of resurfacing. Be on the lookout for debt-free, interest-free money, coming soon to a country-needlessly-plunged-into-recession-by-austerity near you.
This is far more problematic than markets realize. The president had a choice. The debt ceiling thing expresses 'the will
The coin presents a rare opportunity to have a public discussion about the nature of money, something very few people understand. If advocates play their cards (and coins) right, it could even result in the creation of a new and more sustainable monetary system.