A $1 Trillion United States Coin?

Platinum-CoinA $1 trillion coin is currently seriously being considered by the United States Treasury. Is it a novelty piece to be made just because they can? Is it being made to pay off a huge debt? The answer to those questions is, in a way, Yes.

Such a coin would never find it’s way into circulation or in the hands of a collector. The purpose would be to help raise the debt ceiling, if Congress is unable to. Such a coin could be deposited into Fed accounts and pay debts against the coin instead of relying on bond issuance. Such a solution is completely legal since the Treasury department has prior authorization to mint any coin in any denomination. No Congressional approval is needed, no market jitters.

2013 1 oz Gold Eagle in Wood Box - Inaugural Strike

2013 1 oz Gold Eagle in Wood Box – Inaugural Strike

Of course such a plan would receive and is currently receiving scrutiny, as it would be creating money out of thin air. But many also feel that what the Federal Reserve is doing through quantitative easing is also controversial.

Let’s hope such a plan would aid the economy and not turn into a something like the now

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worthless $100 trillion Zimbabwean note.

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One Comment

  1. Wayne Runcie
    Posted January 8, 2013 at 12:58 pm | Permalink

    WHY NOT MINT INSTEAD ONE BILLION COINS VALUED AT $100 ea in PURE PLATINUM AND SELL THEM AROUND THE WORLD FOR REAL DOLLARS ?

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