The Trillion dollar coin is back

Discussion in 'Budget & Taxes' started by Lil Mike, Oct 5, 2021.

  1. Lil Mike

    Lil Mike Well-Known Member

    Joined:
    Aug 4, 2011
    Messages:
    42,843
    Likes Received:
    17,023
    Trophy Points:
    113
    ...at least as an idea. I remember during the 2007-08 financial crisis the idea of a trillion dollar coin, to make all of our dreams come true, was bounced around. Now, with an unserious administration, this idea might be taken more seriously.

    Trillion-dollar platinum coin could be minted at the last minute

    [​IMG]

    A trillion-dollar platinum coin could be minted "within hours of the Treasury Secretary's decision to do so," Philip Diehl, former director of the United States Mint, tells Axios.

    Why it matters: Congressional solutions to the debt-ceiling problem could take weeks to implement, especially if the reconciliation process is used — and time is running out. In case of emergency, a trillion-dollar coin could be deployed to bridge any gap between the money running out and the debt ceiling being raised.

    How it works: The U.S. Mint, which Diehl ran from 1994 to 2000, already produces a one-ounce Platinum Eagle and has no shortage of platinum blanks already in stock.

     

Share This Page