What is the trillion-dollar platinum coin?

in currency •  3 years ago 

"the famous trillion-dollar platinum coin."
https://news.yahoo.com/trillion-dollar-coin-both-legal-095509392.html

"The idea, which has been around for about a decade, is that the president can issue a $1 trillion "commemorative" coin, deposit it with the Federal Reserve, and allow the government to keep paying its bills."
https://www.msn.com/en-us/money/markets/the-trillion-dollar-coin-idea-is-back-as-a-wacky-way-to-prevent-financial-armageddon/ar-AAOMOLg

"It sounds like the plot of a PG-13 political action movie: The U.S. might need a $1 trillion coin to save itself. But this week, the idea of minting one was being floated as a way around the federal debt-ceiling crisis to avert a possible default and the economic catastrophe that could ensue.

The U.S. government runs out of money to pay its bills on Oct. 18, according to the Treasury Department, and if Congress does not raise the debt limit — the amount of money the government is allowed to borrow — economists warn it could trigger a recession."
https://www.seattletimes.com/nation-world/nation-politics/the-trillion-dollar-coin-is-it-a-solution-to-the-debt-ceiling-drama-or-a-gimmick/

"the 2021 American Eagle Platinum One Ounce Proof Coin – Freedom of Religion, is photographed in Washington. It would be the token of all tokens: a $1 trillion coin, minted by the U.S. government, then cashed in to flood the treasury with cash and solve a political impasse over suspending the debt limit. The idea is getting some attention in Washington as an Oct. 18 deadline approaches, with Democrats and Republicans deadlocked over how to stave off an unprecedented credit default."
https://www.msn.com/en-us/news/politics/token-of-all-tokens-could-a-trillion-dollar-platinum-coin-fix-the-debt-limit/ar-AAPcs8R

"Some politicians think they've found a silver bullet for the impasse over the debt limit, except the bullet is made of platinum: Mint a $1 trillion coin, token of all tokens, and use it to flood the treasury with cash and drive Republicans crazy."
https://www.msn.com/en-us/money/markets/241-trillion-coin-floated-as-last-ditch-debt-crisis-solution/ar-AAPciyw

A trillion-dollar coin could be minted within hours of an emergency decision to do so, former US Mint director says
https://www.yahoo.com/news/trillion-dollar-coin-could-minted-190109548.html

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