Trillion Dollar Coin?
October 5th, 2021Mint 30 of them and pay off the debt.
Three Eggs Priced in Zimbabwean Dollars
Via: Axios:
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.
“without any impact on inflation,” says Diehl.
That proposition is pretty much the literal definition of printing money and this clown think it won’t affect inflation.