Jim Grant - A Trillion-Dollar Coin Is Not the Answer!
- The trillion-dollar coin is an urban legend.
- The constraints on government borrowing used to be interest rates and the gold standard; those two constraints are gone.
- Over the past 30 years the government debt has increased twice as fast as government revenue.
- Going back to the gold standard is a viable solution to the U.S. monetary problems. There is a limited amount of gold and it would act as a control over the politicians.