"The escape hatch nobody, [is talking about] coin seignorage... based on Title 31 of the U.S. code, ... authorizes Treasury Secretary Tim Geithner to “mint and issue platinum bullion coins and proof platinum coins in accordance with such specifications, designs, varieties, quantities, denominations, and inscriptions as the Secretary, in the Secretary’s discretion, may prescribe from time to time.” ...
"Geithner could order the mint to manufacture a couple of trillion-dollar platinum coins and swap them for public debt now held by the Federal Reserve. The coins, unlike the bonds held by the Fed, don't count as debt, so the transaction would bring us $2 trillion below the debt ceiling and the manufactured “crisis” would be averted."
As the days draw closer there is a solution...There is more ways to skin the Boehner cat. it is up to Obama to head them off at the pass... Does he have the guts to do so?
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