Richmond Fed, Report: The Other Side of the (Platinum) Coin

“In sum, the platinum coin is an interesting thought experiment for students of fiscal and monetary economics and policy. Its practical implementation in the real world would — even if “workable” and a short-term fix — perhaps fundamentally alter the relationship between the monetary and the fiscal authority. The historical experience suggests serious risks to central bank independence, which has by most accounts proved to be a key guarantor of general price stability.”