US 'seriously' considering $1 trillion coin to pay off debt?

[averagejoe]

US 'seriously' considering $1 trillion coin to pay off debt?

The US is "seriously" considering creating a $1 trillion platinum coin to write down part of its debt to stop the world's largest economy defaulting as early as next month, according to financial analyst Cullen Roche.

http://www.telegraph.co.uk/finance/fina ... -debt.html

[Sn0man]

They can't be serious....

Is it April 1st today by chance?

[rutland1]

Maybe they should make a 16 trillion dollar coin. LOL

[averagejoe]

Maybe they should make a 16 trillion dollar coin. LOL

Now that's a thought! Out of debt! Start fresh!

[Sn0man]

My god - are they really serious? Even being defended by the national post as a plausible solution to their debt crisis. Absurd!!!

Have you heard about the Trillion Dollar Coin and how it could save America’s economy?

BOTTOM LINE: This won’t create hyperinflation, and it’s not the solution to all of our economic problems. It’s just a way to stay within the law, while avoiding the debt ceiling nonsense.

http://business.financialpost.com/2013/01/04/have-you-heard-about-the-trillion-dollar-coin-and-how-it-could-save-americas-economy/

[rutland1]

They could make the coin with all the Canadian copper pennies that will be returned to the bank of Canada.

[averagejoe]

Just when you think it's the brink........mint a coin!

[Glacier]

When economists start borrowing ideas first thought of on The Simpsons, I start to worry.

[averagejoe]

When economists start borrowing ideas first thought of on The Simpsons, I start to worry.

Totally agree Glacier! I posted the original article. Then sometime later I watched Donna Friessen on Global where she said that the idea came from Homer Simpson. Sad.......