So, debt ceiling approaching, maybe the fed needs to raise it again, and so it runs, the US in trillion dollar debt forever because that is how the economy works. Again, as it did 10 years ago, the idea of the One Trillion Dollar Coin has come up.
And youΒ΄re telling me Crypto is weird and unsustainable and has no place in a healthy economic ecosystem?
- The trillion-dollar coin is a theoretical accounting strategy for reducing the federal debt, first proposed to circumvent congressional lock-up over raising the debt ceiling.
- It would involve the Treasury creating a $1 trillion platinum coin and keeping it in a vault.
- The idea, which is based on a legal loophole, was the subject of active debate between 2011 and 2013, but it has never been tried in reality.
Let me get this straight: By minting a single platinum coin and assigning it a trillion dollar value, then put it in a drawer forever, we fix this problem?
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