An alternative strategy thatsounds much more ridiculous but is arguably on firmer legal footing refers to 31 USC § 5112 - Denominations, specifications, and design of coins.
Section (k) of this statute states that the secretary of the Treasury "may mint and issue platinum bullion coins and proof platinum coins in accordance with such specifications, designs, varieties, quantities, denominations, and inscriptions as the Secretary, in the Secretary’s discretion, may prescribe from time to time." The intention here is to have the mint make a small number of platinum collector coins as a minor giveaway to platinum interests. But the plain text of the law appears to indicate that Secretary Geithner can mint a $2 trillion platinum coin, give it to the Federal Reserve, and then use that deposit as the backing to finance government operations.
--http://www.slate.com/blogs/moneybox/2012/06/20/pelosi_says_14th_amendment_makes_the_debt_ceiling_unconstitutional.html
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