“If President Obama wants to avoid an economic calamity next year, he could always show up at a news conference bearing two shiny platinum coins, each worth … $1 trillion.  That sounds wacky, but some economists and legal scholars have suggested that the ‘platinum coin option’ is one way to defuse a debt ceiling crisis. Under this scenario, the U.S. Mint would make a pair of trillion-dollar platinum coins. The president orders the coins to be deposited at the Federal Reserve. The Fed moves this money into Treasury’s accounts. And just like that, Treasury suddenly has an extra $2 trillion to pay off its obligations for the next two years.”

http://seattletimes.com/html/nationworld/2019849540_coin07.html

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