12 Oct, 2021 11:10

As the US debt pile continues to grow, a number of schemes have emerged in Washington on how to solve the problem. Max Keiser looks at the idea of minting a trillion-dollar platinum coin.

The concept emerged during the US debt-ceiling crisis of 2011, to bypass any necessity for Congress to raise the country’s borrowing limit, through the minting of very high-value platinum coins.

“They conjured up a $1 trillion platinum coin. Apparently, there’s a loophole in the Constitution that allows this fraud to take place, but why not just conjure up a $30 trillion platinum coin and get rid of all the debt,” Max points out.

For more stories on economy & finance visit RT’s business section

Dear readers and commenters,

We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system.

Sorry for the inconvenience, and looking forward to your future comments,

RT Team.

Originally posted on https://www.rt.com/business/537229-keiser-report-trillion-dollar-coin/?utm_source=rss&