- Janet Yellen has knocked hopes the US could issue a $1 trillion platinum coin to keep out of debt default.
- The Treasury Secretary told the WSJ that the Federal Reserve wouldn’t back the #MintTheCoin plan.
- The US hit the $31.4 trillion debt limit Thursday, forcing the Treasury to take extraordinary measures.
Janet Yellen has crushed hopes the US Treasury could mint a $1 trillion platinum coin to help cover the country’s bills as it struggles with a debt default.
Under the #MintTheCoin plan, the White House would tell the US Mint to issue a $1 trillion platinum coin, which would then be deposited at the Federal Reserve. The Biden administration could then withdraw money to pay the government’s bills.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.
Login if you have purchased