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The Trillion-Dollar Coin Solution

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  • Description

    FBN's Liz MacDonald on using platinum coins to repay U.S. debt.

  • Duration 2:11
  • Date

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This transcript is automatically generated

Thank you very much -- avoided the debt ceiling fight this up.

What you might think is an odd theory that's been making the rounds but it apparently is gaining some traction among economists.

The treasury can just need to platinum coins.

Worth trillions of dollars and then use those coins to wipe out the government debt.

Sounds crazy but Elizabeth MacDonald is here with you next bottom line this is apparently for really Mac.

Yet it's getting a -- -- that debt ceiling crisis looms another crisis -- yet again.

Connell and it's -- basically gaining momentum on the blogs Huffington Post had this idea up.

A number of lobsters -- -- up to represented Jerry Nadler of New York is advocating for it.

But there's a lot of problems with eyes that at this idea let's would show you what the problems are we're gonna be debunking.

Using platinum coins to repay the US -- personally can -- inflation all currency it gets to value when more currency is printed.

They can print try to print all the money why can't print credibility.

The other issue too is the currency market the precious metals market.

The church -- market -- -- chaos and volatility there.

This is written you know you can't just print remains coins out of thin -- -- -- store a valued invite speculators to.

But most importantly you -- if you would invite a constant.

Constitutional crisis.

-- Connell namely the Federal Reserve.

Is owned by the regional banks they own that US treasury debt they're not gonna we're gonna get into the gonna get a lot of platinum coins -- be sitting on those points.

They're gonna say look at our treasury bonds are our assets were not gonna let you -- and -- basically vaporize them.

With a -- that you think you can say is worth a trillion dollars to two trillion dollars and that's the other issue too.

-- -- a constitutional crisis is is that.

Congress can spend money they can create money out of thin air they -- president can't do that either you can't just say calling it's worth the trillion bucks to two trillion dollars.

It's have to have a store of value so there's a lot of problems here and also -- the big one to another big one too.

The US credit rating would likely go to junk if this move was made back to come.

Other than that's a great idea well that's what I guess that some of those things -- things sound crazy sometimes because.

They are ran -- -- got -- Mac with the bottom line through rhetoric today and that's.

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