A couple of things if I may...
First, the more Janet Yellen speaks the more she scares me. It's not up to Congress to "show the world the US can pay its debts." It's up to us and right now, we're pushing the envelope with respect to GDP.
Second, I resent the notion the debt ceiling is an 'accounting gimmick'. If accounting does not matter then why do corporations issue financial reports.
Rather, the debt ceiling is a legal gimmick. Think about it. The US dollar isn't backed by anything. It's legal tender backed by the faith and credit of the US government. And anytime you evoke the term 'legal' that means lawyers get involved. That should make you nervous because lawyers will sell out their own mothers in order to make a buck.Lastly and as a coin collector, I say the proposal is BS. You cannot count a proof coin as currency if it's not put into circulation. Until it's put into circulation it's worth no more than its weight in platinum (i.e., its bullion value). Imagine pulling a $1T coin out at checkout or presenting it at a bank. You have a hard enough time unloading $100 bills or foreign currency leftover from an overseas trip.
Thank you.
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