In a communication from the Treasury Department dated February 17, 1941, it was stated "The Secretary of the Treasury called for redemption the only outstanding issues of United States bonds bearing the circulation privilege as follows:
"2% Consols. of 1930, as of July 1, 1935, "2% Panama Canal bonds of 1916–36, and "2% Panama Canal bonds of 1918–38, as of August 1, 1935.
This Debt Ceiling thing is driving me bonkers. I hope President Biden finds a way through it that leaves the GOP out of the loop. The 14th Amendment option seems good to me.
The problem with invoking the 14th amendment is that nobody knows whether the Supreme Court will uphold this interpretation and until it does nobody is going to buy US bonds.
Gee, that looks nice!
ReplyDelete---Alan
How Biden Can Win the Debt-Ceiling Fight With [Consol Bonds] [Click] Best explanation I have found so far. Note: The US issued consols from 1877 to 1930 [Click]
ReplyDelete—Alan
Found this:
DeleteIn a communication from the Treasury Department dated February 17, 1941, it was stated "The Secretary of the Treasury called for redemption the only outstanding issues of United States bonds bearing the circulation privilege as follows:
"2% Consols. of 1930, as of July 1, 1935,
"2% Panama Canal bonds of 1916–36, and
"2% Panama Canal bonds of 1918–38, as of August 1, 1935.
---Alan
🖐️Ahoy from aboard Loch Nest! ⛵️
ReplyDeleteAhoy back from California!
DeleteThis Debt Ceiling thing is driving me bonkers. I hope President Biden finds a way through it that leaves the GOP out of the loop. The 14th Amendment option seems good to me.
ReplyDeleteThe problem with invoking the 14th amendment is that nobody knows whether the Supreme Court will uphold this interpretation and until it does nobody is going to buy US bonds.
Delete