You'd think that a guy who won a Nobel Prize would understand how dumb this sounds. $1T in platinum would be the equivalent of 59.35 million pounds. If the plan is to mint a one ounce coin and say it's worth $1T, why even use platinum?
He is an apologist for central banking and Keynesianism. That is why he was awarded the Nobel prize: to legitimize anything governments want to do economically, no matter how destructive. It's the classic appeal to authority marketing approach. Krugman is either a complete idiot or a moron, neither of which reflect well on him. For all we know they have something on him to ensure he continues to cheerlead whatever zany economic policy governments want to establish and propagate.
"Only non-serious players are getting on board and urging this solution."
Agreed. The serious players (like Paul Krugman) are on board with the $1T platinum coin idea.
<sarc>
https://markets.businessinsider.com/news/currencies/paul-krugman-economy-debt-ceiling-crisis-solution-1-trillion-coin-2023-5?op=1
You'd think that a guy who won a Nobel Prize would understand how dumb this sounds. $1T in platinum would be the equivalent of 59.35 million pounds. If the plan is to mint a one ounce coin and say it's worth $1T, why even use platinum?
He is an apologist for central banking and Keynesianism. That is why he was awarded the Nobel prize: to legitimize anything governments want to do economically, no matter how destructive. It's the classic appeal to authority marketing approach. Krugman is either a complete idiot or a moron, neither of which reflect well on him. For all we know they have something on him to ensure he continues to cheerlead whatever zany economic policy governments want to establish and propagate.