Detailed text transcripts for TV channel - MSNBC - 20121206:05:21:00
Prescribe from time to time. that's pretty broad. so according to current existing law, and this is actually true, the government could, for instance, strike a coin tomorrow at the united states mint at west point and as long as it was platinum, the secretary of treasury could decree that this new coin was worth $1 trillion. doing so would solve a really big problem that's looming on the horizon. secretary of treasury could then take the $1 trillion coin, deposit in its account at the federal reserve, and use the money to write checks to pay our debts, even if congress refuses to raise the deb...