Obama Must Be Ready To Mint The Trillion Dollar Platinum Coin

01-07-2013 • http://www.businessinsider.com, Joe Weisenthal

The movement to mint a trillion dollar platinum coin gets its biggest backer yet: Paul Krugman.

To back up for a moment, in case you're not familiar with the #MintTheCoin movement, the idea is that by using a technical loophole in the law, the Treasury could create a coin worth $1 trillion and deposit it in its bank account.

In a new post up titled Be Ready To Mint The Coin he writes:

It’s easy to make sententious remarks to the effect that we shouldn’t look for gimmicks, we should sit down like serious people and deal with our problems realistically. That may sound reasonable — if you’ve been living in a cave for the past four years.Given the realities of our political situation, and in particular the mixture of ruthlessness and craziness that now characterizes House Republicans, it’s just ridiculous — far more ridiculous than the notion of the coin.