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New White House Petition Demands That Obama Mint A Trillion Dollar Coin To Avert A Debt Ceiling Crisis
Earlier today we explained how more and more prominent and influential individuals are calling on The Treasury to avert the debt ceiling crisis by minting a trillion dollar coin. The Treasury, technically, can create platinum coins in any denomination.
And so the theory is that rather than having a debt ceiling crisis, it would be better to have the Treasury deposit a trillion dollar platinum coin at the Federal Reserve, and have it credited to the government’s bank account.
Anyway, everyone’s getting excited by it, and a petition has been launched at WhiteHouse.gov to get people to demand that Obama take this step.
You can read our post here, which explains why there wouldn’t be any severe ramifications.