October 10, 2013     Permalink economy Submitted by Michael Dewey

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The Debt Ceiling Kabuki Theater Plays on: click here

"About that Civil War analogy...
President Lincoln, when faced with 24-36% interest charges on funding for the war from the NY banks (them again!), instead chose to invoke the Constitution's Art. 1, Sec. 8, Clause 5 provision to have Congress "coin Money." Specifically, $450m in the first Legal Tender the U.S. ever had, U.S. Notes. SCOTUS upheld this right in Julliard v. Greenberg. 
We need to return to sovereign money.