Some discussion on cnbc about this today:
Basically, the US Treasury has the ability to create 'special issue' platinum coins and assign them whatever value it wants.
The US government could then deposit this said coin into th e Federal Reserve, erasing 1 Trillion in liabilities instantly.
Then when Congress raises the debt ceiling to whatever inflated value the devaluation of the us dollar causes, the current/future administration destroys the coin.
The result, you and I are no closer to becoming trillionaires, but the average millionaire could be that much closer to living under the poverty line.
Who dreams up this stuff? Why not just mint up 17 coins and be done with it all if you are going to take this kind of cop-out.
Just have to watch out for chinese fake trillion dollar coints, sure to pop up. Personally, I'd pay someone a few million to steal them for me and become the richest person in history lol.
Basically, the US Treasury has the ability to create 'special issue' platinum coins and assign them whatever value it wants.
The US government could then deposit this said coin into th e Federal Reserve, erasing 1 Trillion in liabilities instantly.
Then when Congress raises the debt ceiling to whatever inflated value the devaluation of the us dollar causes, the current/future administration destroys the coin.
The result, you and I are no closer to becoming trillionaires, but the average millionaire could be that much closer to living under the poverty line.
Who dreams up this stuff? Why not just mint up 17 coins and be done with it all if you are going to take this kind of cop-out.
Just have to watch out for chinese fake trillion dollar coints, sure to pop up. Personally, I'd pay someone a few million to steal them for me and become the richest person in history lol.