Saturday, 5 January 2013

Just add a few zeroes!

New White House Petition Demands That Obama Mint A Trillion Dollar Coin To Avert A Debt Ceiling Crisis








Business Insider
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.


On Twitter, supporters are using the hashtag #mintthecoin to let their voices be heard.

You can read our post here, which explains why there wouldn't be any severe ramifications.

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