ECON Trillion-dollar Platinum Coin Could be Minted at the Last Minute (OP 10/21)

Sicario

Sicario

The Executor
Trillion-dollar platinum coin could be minted at the last minute

www.axios.com

Trillion-dollar platinum coin could be minted at the last minute

The coin could be deployed to help bridge the gap between the money running out and the debt ceiling increasing.
www.axios.com www.axios.com

1633434245808.jpg


A trillion-dollar platinum coin could be minted "within hours of the Treasury Secretary's decision to do so," Philip Diehl, former director of the United States Mint, tells Axios.

Why it matters: Congressional solutions to the debt-ceiling problem could take weeks to implement, especially if the reconciliation process is used — and time is running out. In case of emergency, a trillion-dollar coin could be deployed to bridge any gap between the money running out and the debt ceiling being raised.

How it works: The U.S. Mint, which Diehl ran from 1994 to 2000, already produces a one-ounce Platinum Eagle and has no shortage of platinum blanks already in stock.
  • Producing a trillion-dollar Eagle would require only the denomination to be changed. "This could be quickly executed on the existing plaster mold of the Platinum Eagle," says Diehl. Then an automated process would transfer the new design to a plastic resin mold.
Even if Janet Yellen, the Treasury secretary, has no intention of minting such a coin, there is no reason for her not to quietly instruct the Mint director to take those steps a day or two in advance.
  • At that point, a coin could be struck in minutes at the West Point mint. Even if it then needed to be physically deposited at the New York Fed, that's only a short helicopter ride away.
"Voila, we'd have bought ourselves the equivalent of a trillion-dollar increase in the debt limit, without any impact on inflation," says Diehl.
 
D

dvo

Veteran Member
Could this stunt be the end of the dollar? Who would have any confidence in the dollar as the world reserve currency if we resort to this? And no...I’m not a economist. Just wondering.
 
D

Dozdoats

On TB every waking moment
Why stop with one trillion? Zimbabwe did 100 trillion dollar notes.

Pikers.

ETA - and what kind of fool has any confidence in the FRN$ NOW?? It's still a means of exchange but that is all.
 
Satanta

Satanta

Stone Cold Crazy
_______________
At least a Trillion in paper Monop...Errrr....FRN's can be used for things like fire and wiping one bottom or even composted into Fertilizer.
 
Tristan

Tristan

Has No Life - Lives on TB
Sicario said:
Trillion-dollar platinum coin could be minted at the last minute

www.axios.com

Trillion-dollar platinum coin could be minted at the last minute

The coin could be deployed to help bridge the gap between the money running out and the debt ceiling increasing.
www.axios.com www.axios.com

1633434245808.jpg


A trillion-dollar platinum coin could be minted "within hours of the Treasury Secretary's decision to do so," Philip Diehl, former director of the United States Mint, tells Axios.

Why it matters: Congressional solutions to the debt-ceiling problem could take weeks to implement, especially if the reconciliation process is used — and time is running out. In case of emergency, a trillion-dollar coin could be deployed to bridge any gap between the money running out and the debt ceiling being raised.

How it works: The U.S. Mint, which Diehl ran from 1994 to 2000, already produces a one-ounce Platinum Eagle and has no shortage of platinum blanks already in stock.
  • Producing a trillion-dollar Eagle would require only the denomination to be changed. "This could be quickly executed on the existing plaster mold of the Platinum Eagle," says Diehl. Then an automated process would transfer the new design to a plastic resin mold.
Even if Janet Yellen, the Treasury secretary, has no intention of minting such a coin, there is no reason for her not to quietly instruct the Mint director to take those steps a day or two in advance.
  • At that point, a coin could be struck in minutes at the West Point mint. Even if it then needed to be physically deposited at the New York Fed, that's only a short helicopter ride away.
"Voila, we'd have bought ourselves the equivalent of a trillion-dollar increase in the debt limit, without any impact on inflation," says Diehl.
Click to expand...


See? They got a handle on this thing!
 
F

fi103r

Veteran Member
Sicario said:
About $960/oz. Not quite enough to cover the $1T valuation. :rolleyes:
Click to expand...
that’s called ‘crying up’ the value of a coin
which leaves us crying in our beer which had to be bought with a wheelbarrow of ‘real currency’

the garden variety melt value vs face value is called ‘Seigniorage’ which the .gov sets what money is worth
not sure why the font changed sorry
 
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Dobbin

Dobbin

Faithful Steed
If you mint one - why not mint a trillion - and pay off the reparations that everyone keeps referring to?

Of course if every Black human has a trillion dollar coin...

They'll soon be in the hands of all the White humans.

And they'll be able to throw it down on the table and say "a trillion for your thoughts?"

Dobbin
 
Quiet Man

Quiet Man

Nothing unreal exists
This is them telling you that it doesn't mean anything. They know it. They laugh at this stuff. You should know it.

Get out of dollar-denominated assets which have no intrinsic value.

The dollar is toast. All fiat is toast.

This is the dollar: :dhr:
This, soon, is people who have all their wealth in dollars: :kk2:
 
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Dennis Olson

Dennis Olson

Chief Curmudgeon
_______________
Sicario said:
In case of emergency, a trillion-dollar coin could be deployed to bridge any gap between the money running out and the debt ceiling being raised.
Click to expand...

No, it can’t.
Sicario said:
"Voila, we'd have bought ourselves the equivalent of a trillion-dollar increase in the debt limit, without any impact on inflation," says Diehl.
Click to expand...
No, they wouldn’t.


These people are beyond stupid.
 
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