Skip to comments.The Biden administration could sidestep McConnell's refusal to pay America's bills by minting a $1 trillion platinum coin (WTH?)
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 ...
Oh sorry, I just saw the older copy.
Sorry, please delete this.
If this is kosher, why stop at a trillion? How ‘bout a quattuorvigintillion-dollar coin?
Call the new $1 Trillion coin “The Amero”!! ;-)
Of course, the fed can increase the money supply and use it to buy back and retire debt.
Avoids insolvency, but inflationary
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.
This is not the first time the media has pushed this. A few years ago (?) it was suggested.
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”
DON’T DO IT! I have a 100 trillion Zimbabwe note I will donate to the US Treasury.
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
A $1,000,000,000,000.00 coin made of platinum would be plenty big!
This was obamas idea, wasn’t it?
We need the “Not this stuff again” picture.
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
Just print $40 trillion out of thin air and pay off our national debt!!
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.
Make it out of U-238 it would be much smaller and no one would want to seal it.
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