A $1 trillion platinum coin could save the US from economic catastrophe in less than a month. It would be fast, legal, and no bigger than a regular coin.
. That's led to a school of thought that says Yellen should simply mint a trillion-dollar platinum coin and deposit it to pay off the debts until a more permanent solution can be found.
To be sure, Biden's administration has not been so accepting of using a $1 trillion platinum coin to avoid an economically catastrophic default. Yellen, for example,, saying that it"is not by any means to be taken as a given that the Fed would do it, and I think especially with something that's a gimmick."
Brian Riedl, a senior fellow and economist at the conservative-leaning Manhattan Institute, told Insider that"the first problem with the trillion-dollar coin is they would have to get past their own Treasury Secretary."
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