Democrats and their affiliated media organizations are floating a new way to allow Washington, D.C. to spend without abandon without the arduous process of voting to expand the debt ceiling.
The novel innovation is to print a coin worth $1 trillion and give it to the federal government.
A plan being floated by increasingly prominent media outlets would have the U.S. Department of Treasury simply create a coin worth $1 trillion, then have the U.S. Government essentially deposit this coin into the treasury, thus paying down a trillion dollars worth of debt and allowing the government to continue operating until another $1 trillion is needed. At which point, the government could ostensibly make another $1 trillion coin if taking a vote becomes inconvenient.
According to Axios, the scrappy new face of establishment web print journalism, the “trillion-dollar platinum coin,” should circumstances call, could be created “within hours of the Treasury Secretary’s decision to do so.” The article suggests that Janet Yellen, the former Federal Reserve official tapped by the Biden regime to run the Treasury, could “quietly instruct the Mint director to take those steps” even before she decides to mint $1 trillion out of thin air.
Quoting Philip Diehl, the former director of the United States Mint, Axios explains that by merely minting a new coin worth $1 trillion: “Voila, we’d have bought ourselves the equivalent of a trillion-dollar increase in the debt limit, without any impact on inflation.”
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