A Terrible Idea
It can be fun to be in the media. Getting your voice heard is a heady, empowering feeling, whether you write for distribution, appear on-air or dole out your opinions for paying subscribers. But in order to keep the spinning media world interested and talking about you, there is pressure to come up with new ideas, or recycle bad old ones. Sometimes, however, these "new" ideas aren't just interesting and fun to talk about, they're downright dangerous. One of the latest catching a lot of buzz is the $1 trillion coin.
While this notion has been attributed to my friend Cullen Roche of the Pragmatic Capitalist blog in 2011, other bloggers have been revitalizing the absurd idea of the U.S. Treasury minting up its own $1 trillion coin in order to short-circuit the debt ceiling debate coming up in February. The idea is fun and simple: Using Treasury powers to mint special platinum coins in any denomination it wishes, it could make a single $1 trillion coin, deposit it into the U.S. Treasury and use that money to continue paying debts above the debt ceiling if Congress does not approve raising it by the February deadline....400 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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