Some economists and legal scholars have suggested that the “platinum coin option” is one way to defuse a crisis if Congress can’t or won’t lift the debt ceiling soon. At least in theory. The U.S. government is, after all, facing a real problem. The Treasury Department will hit its $16.4 trillion borrowing limit by next February at the latest. Unless Congress reaches an agreement to raise that borrowing limit, the government will no longer be able...
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A one trillion dollar coin would have $3000 worth pf platinum while a $100 bill has a material value of roughly 12 cents as a ratio of material value to face value. The coin is thus the material-value equivalent of an $80 trillion dollar bill.
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