Have heard that too. Am sure I have many details wrong here but believe it relates directly back to the Treasury being able to mint/print currency, a chanfge made under Trump. I think it is along the lines of USA owes $800 bazillion to the Fed so...
"Here's 800 new USA bazillion dollar platinum coins, our debt is paid in full."
Does the Fed then declare the coins valueless and get nothing or go along with it? In parallel a new Treasury dollar is launched alongside Fed fiatbucks so the whole system does not crash. This would allow 401Ks to migrate and fiatbucks onhand to be exchanged at some ratio. It seems fantastic but so does the last year.
I hope they do. I can't wait for them to realize that money printing is still fiat if the coin is denominated a bajillion times greater than it's market value in materials.
I hear they're talking about issuing a platinum coin with face value of a trillion...
Have heard that too. Am sure I have many details wrong here but believe it relates directly back to the Treasury being able to mint/print currency, a chanfge made under Trump. I think it is along the lines of USA owes $800 bazillion to the Fed so...
"Here's 800 new USA bazillion dollar platinum coins, our debt is paid in full."
Does the Fed then declare the coins valueless and get nothing or go along with it? In parallel a new Treasury dollar is launched alongside Fed fiatbucks so the whole system does not crash. This would allow 401Ks to migrate and fiatbucks onhand to be exchanged at some ratio. It seems fantastic but so does the last year.
With Trump’s face on it. Not a profile, just him staring right at you every time you spend a trillion on something. Like your gas bill in winter.
I hope they do. I can't wait for them to realize that money printing is still fiat if the coin is denominated a bajillion times greater than it's market value in materials.