@ceresbzns @misc thanks!
@PartHaircut @pseudonym yes it was a saying in his office
For Episode 116 @BennettTomlin and Cas Piancey are joined by @rohan to discuss how we could offer unlimited deposit insurance https://cryptocriticscorner.com/2023/04/12/episode-116-the-fdic-infinite-insurance-and-moral-hazards-feat-rohan-grey/
Not only does Elon Musk not have a clue what he’s talking about, but this is *exactly* what he tried to do at PayPal, claiming it needed a full “V2” rewrite of the code when it didn’t.
Instead, it shifted resources away from key areas, caused PayPal to lose much more money to fraud, and eventually got him ousted as CEO.
Last month, I wrote about Elon Musk’s time at PayPal and how he’s repeating his mistakes from that period: https://www.disconnect.blog/p/elon-musk-wants-to-relive-his-start
@drustevenson it's 31 USC 5112(k). Other laws pertain to digital CB settlement balance accounts and/or digital book entry Treasury securities, but they have other restrictions that the platinum coin provision of the Coinage Act does not.
@drustevenson because the statute that this refers to specifies coins
@drustevenson @steve_zeke@freeradical.zon
1. Coin gets minted
2. Coin gets deposited on behalf of mint at fed
3. Fed credits face value of coin to Mint's reserve account
4. Mint "sweeps" its reserve account excess into tsy general fund
5. Tsy can now spend as needed.
That's the basic ops. Happy to answer any questions
https://twitter.com/DarrigoMelanie/status/1620458206253449219
RT @DarrigoMelanie@twitter.com
Tomorrow is the start of Black History Month, which kicks off an entire month of Republicans questioning the need for it, while banning children from learning why it’s needed.
🐦🔗: https://twitter.com/DarrigoMelanie/status/1620458206253449219
RT @Vinncent@twitter.com
When people fuck up a little they really think you are going to tell their boss. Horrifying. How can you signal to people that I am literally never going to do this ever
RT @NathanTankus@twitter.com
I'm back in @FTAlphaville@twitter.com exploring the broader questions opened up in the debate over how best to avoid default after the debt ceiling binds. It is very important to know how seriously the Federal Reserve- & Powell- takes fiscal agent responsibilities.
https://www.ft.com/content/afb6ef8f-be7c-45ac-8a7d-56550b64fd9e
🐦🔗: https://twitter.com/NathanTankus/status/1620439822937759746
RT @GuardianUS@twitter.com
Can a trillion-dollar coin end the US debt-ceiling standoff? https://www.theguardian.com/business/2023/jan/31/one-trillion-dollar-coin-debt-ceiling-solution?utm_term=Autofeed&CMP=edit_2221&utm_medium=Social&utm_source=Twitter#Echobox=1675153146
🐦🔗: https://twitter.com/GuardianUS/status/1620343693658963968
RT @DeficitOwl24601@twitter.com
@johnnygbx1@twitter.com @rohangrey@twitter.com You're reasoning backwards from an observation about one specific function of coinage and assuming the existence of a law that states that no other function is permissible. No such law exists, and several laws exist which state the contrary.
🐦🔗: https://twitter.com/DeficitOwl24601/status/1620213362796937216
RT @khaslett@twitter.com
I have multiple friends who have had deposit accounts at banks that failed and they didn't notice when their banks closed. They didn't pull their money. They got a new debit account. Their cards never stopped working. That's deposit insurance!
Come get it
RT @RaulACarrillo@twitter.com
You want this job! (esp. if you're in practice & moving toward academia)
Don't miss the application window! Apps due by February 15th! 🖱️ https://twitter.com/LPE_Project/status/1620109198708310017
🐦🔗: https://twitter.com/RaulACarrillo/status/1620109852952657921
Interestingly, if you go to the law and scroll down on the same page, you'll see the other statutory provision where they limit the TsySec's authority to mint coins based on what the Federal Reserve decides is appropriate.
jk jk, there's nothing of the sort.
RT @mrbrnn@twitter.com
ICYMI: last week's great conversation btwn @rohangrey@twitter.com @StephanieKelton@twitter.com @TheStalwart@twitter.com @PhilipNDiehl@twitter.com on the $1T coin solution to the debt ceiling crisis - bookmark + listen!
yeppppppppppp
RT @LuizaJarovsky@twitter.com
🔥These are the 5 worst #privacy takes of all time. What would you add?
🐦🔗: https://twitter.com/LuizaJarovsky/status/1620065385767895040
RT @kat_marianna@twitter.com
Here is a replay of the highly insightful #MintTheCoin seminar I attended at @ColumbiaLaw@twitter.com with @ProfKateJudge@twitter.com @TheStalwart@twitter.com @StephanieKelton@twitter.com, w/@rohangrey @PhilipNDiehl@twitter.com Zooming in from @WillametteLaw@twitter.com. The best arguments I’ve heard to put an end to the debt limit & Mint The Coin! https://twitter.com/kat_marianna/status/1618148082235117570
🐦🔗: https://twitter.com/kat_marianna/status/1620107459494055936
Aussie lefty law professor living in Portland, Oregon. Interested in money, political economy, & technology, with a focus on digital currency, public commons, and sustainable macroeconomic policy, including a Job Guarantee. Classical musician, elementary school teacher, and attorney for children in precious lives. #lawprof #lawfedi #MMT