Currently there is a $300 million statutory "ceiling" on the law authorizing the Tsy to issue Greenbacks, ie paper currency not subject to the debt ceiling. If we removed the $300 million ceiling and say "as many notes as Tsy Sec deemed appropriate", it could print a quintillion.
https://twitter.com/prestonjbyrne/status/1443603559833026560
Just like the Tsy Sec could issue a quintillion dollars worth of Treasury Securities if/when the debt ceiling was suspended, as it has been for most of the past 8 years in between brief reauthorization-and-resuspension periods. The coin is no different, Preston just hates fiat.
The ompt thing about coinage act is that it has never specified a quantitative limit on amount of coins, or their face value, that can be minted. There has never been a "ceiling" like w other instruments, only denominational limits which the platinum provision doesnt have at all
This is why Mint Director Dihel who wrote the law in q said upon hearing about #MintTheCoin that it was clearly consistent w the legislative language & history of mint. Preston was a securities lawyer for a bit before going into crypto, he doesnt know shit about public finance.
Indeed, not only doesn't he know shit about the legalities of public finance, he's a libertarian whose views about public spending are closer to quackery than a serious voice in policymaking circles. It's like asking Judy Shelton's opinion and being surprised it's crankish.
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