With the debt ceiling fast approaching and both sides digging
in, many are looking for a quick fix to the problem. One possible
solution that has been floated lately is the 'trillion dollar
the U.S. Treasury is allowed
to mint as many coins of platinum as it so desires and it can
also assign them any value it chooses. With this loophole, the
Treasury could print up a couple trillion dollar platinum coins,
deposits them at the Federal Reserve, and then the Fed moves it
into the Treasury's accounts, pretty much eliminating a debt
ceiling fight altogether.
While this would 'solve' the problem, it would also likely
infuriate Republicans who more or less caved on the Fiscal Cliff
and were looking to extract something out of Democrats this time
around. This could set up an even more partisan stretch over the
next few years, assuming that this is the route that Obama
What do you think about the idea?
Is this a good way to fix the debt ceiling debacle despite the
political risks? Or is this a slimy way to avoid another
Let us know what you think in the comments below!
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