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A comment on I Got the Fed to Release Its 2011 "Treasury Default" Playbook. Parent comment

Re:I Got the Fed to Release Its 2011 "Treasury Default" Play... by JumpCrisscross on Tuesday November 07, 2023 @04:43PM (#38183294)
> If the Government spent the money and the Federal Reserve doesn't want to print it

What does this mean? Even if a Treasury auction fails, the Treasury has the power to mint currency. It could literally just deposit paper representing the $200bn of gold at Fort Knox and have money in its Fed account.

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Re:I Got the Fed to Release Its 2011 "Treasury Default" Play... by immibis on Tuesday November 07, 2023 @04:44PM (#38183299)
Also uncharted territory. So far, that's never been tried.
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Re:I Got the Fed to Release Its 2011 "Treasury Default" Play... by JumpCrisscross on Tuesday November 07, 2023 @04:46PM (#38183331)
> Also uncharted territory. So far, that's never been tried.

Minting is more precedented than the Fed. Functionally doing this is trivial. It's legally asserting the supremacy of the 14th Amendment over the Public Debt Acts.

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