Thursday, January 10, 2013

Old Hickory and the platinum coin

Mike Sandler in Beyond Debt Ceiling, Trillion Dollar Coin Offers New Economic Paradigm Huffington Post 01/10/2013 has an interesting tidbit (or it may just be his own suggestion) about the platinum coin involving Andrew "Old Hickory" Jackson:

Two contenders for the face of the coin are President Andrew Jackson and President Abraham Lincoln. Jackson was the only president to have retired all U.S. debt. Lincoln would be appropriate because he issued a debt-free fiat currency, Greenbacks, to finance the Civil War. Lincoln has a public relations edge over Jackson, with his Steven Spielberg movie on track to win Best Picture this year, and he has a backup plan as well, in case Treasury Secretary Geithner decides to ship 100 trillion pennies over to the Fed instead. [my emphasis]
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