[rocksblues]

As Platinum is going for $1573.50 an ounce I am wondering how big these coins will have to be?

[Flick Lives]

As Platinum is going for $1573.50 an ounce I am wondering how big these coins will have to be?

(1 trillion / 1,573.50 dollars per oz) / 16 oz per lb / 2000 lbs per ton = 19,860 tons

[inpajamas]

“Whom the gods will destroy they first make mad”. The world has, for the most part, gone mad.

[Sooth2222]

There isn't enough platinum on the planet to cover the debt.

I like the idea of a giant rubber coin. It seems particularly appropriate today.

No matter what they do, the US debt can never be paid off, and they are just printing/creating money -- either with the Fed buying treasuries or minting silly trillion dollar coins.

Somebody working in that administration should read up on the German war debt, the Weimar Republic and hyperinflation. And about how they then elected a decorated war hero who loved animals, was a vegetarian, and was a charismatic speaker.

[Drumbo]

As Platinum is going for $1573.50 an ounce I am wondering how big these coins will have to be?

(1 trillion / 1,573.50 dollars per oz) / 16 oz per lb / 2000 lbs per ton = 19,860 tons

From what I can find ...
"... the Treasury is explicitly allowed to mint however many platinum coins it wants and can assign them whatever value it pleases."

That raises as many questions as it answers. How would arbitrarily assignment of value effect the spot price and how would that devalue other precious metals? How is this any different from printing billions in "digital" money by buying their own bonds? The inflation that is waiting to unleash when the bubble burst is staggering. The dollar is being devalued with every Quantitative Easing scheme and this would be no different. Just a gimmick.

[NEWwoman]

As Platinum is going for $1573.50 an ounce I am wondering how big these coins will have to be?

They should use paper money - like this

[jameslalor]

“As Platinum is going for $1573.50 an ounce I am wondering how big these coins will have to be?”

1 ounce (or less). No one is saying the coin will be WORTH a trillion, just that its face value will be a trillion.

This is money printing, not minting a coin that’s really worth a trillion in today’s dollars. Effectively that lying skidmark Paul Krugman is advising that we add about nine zeros onto our currency in order to settle our debts, following the lead of other failed nations like the Weimar Republic and modern-day Zimbabwe.

This is effectively the same as changing the face value of the penny to about $6,500,000.