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The Biden administration could sidestep McConnell's refusal to pay America's bills by minting a $1 trillion platinum coin (WTH?)
Yahoo ^ | Sunday (US) | Andy Kiersz,Joseph Zeballos-Roig

Posted on 09/19/2021 11:38:01 PM PDT by cba123

Senate Minority Leader Mitch McConnell has firmly dug in on refusing GOP help to renew the US's ability to pay off its bills, known as the debt ceiling. Instead, the Kentucky Republican said it's up to Democrats to raise it in order to finance their social spending plans on healthcare, education, and childcare. He insists he's not "bluffing."

But the conundrum could have a coin-sized solution. A loophole in the law that prescribes the types of coins that can legally be minted in the US theoretically allows the Treasury Department to mint a $1 trillion platinum coin, deposit it at the Federal Reserve, and then continue paying its bills as normal.

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Foreign Affairs; News/Current Events; Politics/Elections
KEYWORDS: andykiersz; budget; josephzeballosroig; search; searchworks; tricks; wth
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For crying out loud.

Insane.

1 posted on 09/19/2021 11:38:01 PM PDT by cba123
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To: cba123

https://news.yahoo.com/biden-administration-could-sidestep-mcconnells-101500632.html


2 posted on 09/19/2021 11:38:27 PM PDT by cba123 ( Toi la nguoi My. Toi bay gio o Viet Nam)
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To: cba123

Oh sorry, I just saw the older copy.

Sorry, please delete this.

Thanks.


3 posted on 09/19/2021 11:41:16 PM PDT by cba123 ( Toi la nguoi My. Toi bay gio o Viet Nam)
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To: cba123

If this is kosher, why stop at a trillion? How ‘bout a quattuorvigintillion-dollar coin?


4 posted on 09/19/2021 11:45:52 PM PDT by irishjuggler
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To: All; cba123

See also: https://freerepublic.com/focus/f-news/3996448/posts

Call the new $1 Trillion coin “The Amero”!! ;-)

https://www.thebalance.com/the-amero-conspiracy-1345011


5 posted on 09/19/2021 11:54:31 PM PDT by Drago
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To: cba123

Inflationary

Of course, the fed can increase the money supply and use it to buy back and retire debt.

Avoids insolvency, but inflationary


6 posted on 09/19/2021 11:56:19 PM PDT by campaignPete R-CT (I owe, I owe, it's off to work I go ...)
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To: cba123

Why use platinum? Just make it out of wood. Spray paint it gold, silver, or even mauve. It would be comforting to know that a good chunk of those paper bills in your wallet or purse are backed up by that.


7 posted on 09/19/2021 11:58:32 PM PDT by MCF (If my home can't be my Castle, then it will be my Alamo)
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To: cba123

This is not the first time the media has pushed this. A few years ago (?) it was suggested.


8 posted on 09/20/2021 12:03:01 AM PDT by PghBaldy (12/14 - 930am -rampage begins... 12/15 - 1030am - Obama's advance team scouts photo-op locations.)
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To: cba123

I would not be all that shocked if they did this...

We really are living in clown world now...

“I can’t be out of money, look right here! I still have unused checks in my purse”


9 posted on 09/20/2021 12:12:47 AM PDT by Bobalu (The plan must be to distract from Afghanistan by doing something even more stupid )
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To: cba123

DON’T DO IT! I have a 100 trillion Zimbabwe note I will donate to the US Treasury.


10 posted on 09/20/2021 12:52:18 AM PDT by BiglyCommentary
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To: PghBaldy
Yes, the geniuses proposed it under 0bama Insane: Liberals Contemplate $1 Trillion Platinum Coin to "Solve" Debt Limit Issue

And again last year from The Squad, to 'pay' for welfare: Tlaib proposes minting two $1 trillion platinum coins to finance monthly coronavirus debit cards

11 posted on 09/20/2021 1:20:39 AM PDT by fluorescence
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To: MCF

A $1,000,000,000,000.00 coin made of platinum would be plenty big!

==8-O


12 posted on 09/20/2021 1:25:18 AM PDT by Does so (USA is run from 2446 Belmont Rd, NW, DC, (Kalorama). Why else the 9/11 deadline for Afghanistan?)
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To: cba123

This was obamas idea, wasn’t it?


13 posted on 09/20/2021 1:27:22 AM PDT by jughandle (Big words anger me, keep talking. )
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To: cba123

We need the “Not this stuff again” picture.


14 posted on 09/20/2021 1:40:29 AM PDT by Vermont Lt
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To: cba123

it is insane.

If they can do this, why not mint a hundred thousand trillion dollar platinum coins?

Why so stingy Joe?

/sarc for the literals amongst us


15 posted on 09/20/2021 2:12:51 AM PDT by Secret Agent Man (Gone Galt; Not Averse to Going Bronson.)
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To: Secret Agent Man

Just print $40 trillion out of thin air and pay off our national debt!!


16 posted on 09/20/2021 2:15:54 AM PDT by Mr. K (No consequence of repealing obamacare is worse than obamacare itself)
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To: Vermont Lt

17 posted on 09/20/2021 2:19:37 AM PDT by kanawa ((Securing the 2022/2024 elections is of paramount importance.))
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To: jughandle
It might have come from season 9 episode 20 of the Simpsons.

https://m.imdb.com/title/tt0701265/

18 posted on 09/20/2021 3:14:24 AM PDT by Dutch Boy
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To: cba123
The US still hasn't paid off the debt from the Civil War (the first one).

The problem isn't McConnell, the problem is the crazy spending and resulting inflation. The people who are going to be paying for it are people who spend much of their income on food, gasoline and housing - NOT Jeff Bezos, Bill Gates and Elon Musk.

19 posted on 09/20/2021 3:27:34 AM PDT by Sooth2222 (“Toute nation a le gouvernement qu’elle mérite.” ("Every nation has the government it deserves.”) )
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To: cba123

Make it out of U-238 it would be much smaller and no one would want to seal it.


20 posted on 09/20/2021 3:32:08 AM PDT by PIF (They came for me and mine ... now its your turn)
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