New
White House Petition Demands That Obama Mint A Trillion Dollar Coin
To Avert A Debt Ceiling Crisis
Earlier today we explained how more and more prominent and influential individuals are calling on The Treasury to avert the debt ceiling crisis by minting a trillion dollar coin. The Treasury, technically, can create platinum coins in any denomination.
Business
Insider
3 January 2013
3 January 2013
Earlier today we explained how more and more prominent and influential individuals are calling on The Treasury to avert the debt ceiling crisis by minting a trillion dollar coin. The Treasury, technically, can create platinum coins in any denomination.
And
so the theory is that rather than having a debt ceiling crisis, it
would be better to have the Treasury deposit a trillion dollar
platinum coin at the Federal Reserve, and have it credited to the
government's bank account.
Anyway,
everyone's getting excited by it, and
a petition has been launched at WhiteHouse.gov to
get people to demand that Obama take this step.
You
can read our post here,
which explains why there wouldn't be any severe ramifications.
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