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<p>[QUOTE=&quot;John Burgess, post: 7931154, member: 105098&quot;]To an extent. They would have essential functions and dept of treasury would switch to &quot;extreme accounting measures&quot;. Bep and US mint would need to continue doing their main functions though and suspend all extraneous functions that aren&#039;t deemed essential services to conserve their budget.</p><p><br /></p><p>At least until the govenment mints a half dozen trillion dollar platinum coins, monetize it and print up the cash for it.</p><p><br /></p><p>Inflation possibilities exist of course by doing this but it would probably still be better than not raising the debt limit and defaulting which would have immediate disastrous effects on the economy here. It would be a way out, to say &quot;yeah this tactic isn&#039;t gonna work of refusing to pay the bills,&nbsp; so let&#039;s actually work on filling the hole we dug back in, while we just bought some time to actually work on it. </p><p><br /></p><p>I&#039;m not saying its a good idea, just saying if a default is the other option that crashes the stock market, the dollar, the economy and spikes unemployment, its a better option than defaulting.</p><p>It functions sort of like quantitive easing, but the treasury mints the coin, sells it to the federal reserve, and at a later date, the treasury buys it back and has it melted down. They could do it with federal assets, or with a bond, same kind of thing in the long run but that would be between the dept of treasury and the federal reserve only and no need for congress because the legislation that allows a platinum coin leaves the denomination open to be whatever they want it to be as well as its size.</p><p><br /></p><p>Anyways. The debt ceiling has to be raised, it&#039;s money we already have spent and it&#039;s unconstitutional to default on out debts, public or private. They are going to have to do something on it. Just seems like they enjoy playing chicken with it because nobody ever actually works on having a budget surplus and paying the national debt down.[/QUOTE]</p><p><br /></p>

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