Jonathan Alter | FDR would have embraced the Left’s goofy platinum coin idea

I love the trillion-dollar platinum coin solution to the debt-ceiling blackmail threat, though lots of people find it too gimmicky. They say that a serious government can’t pull stunts like that to bolster the financial system.

Oh, really? Ask Franklin D. Roosevelt.

Roosevelt took the oath of office on March 4, 1933, at the bottom of the Great Depression. The nation was in the fetal position. Almost three-quarters of the states had already closed their banks. As president-elect, Roosevelt wanted his predecessor, Herbert Hoover, to close the rest. Hoover refused, and Roosevelt signed an executive order to do so on his first day in office.


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