Insane “Trillion Dollar Platinum Coin” Option Ruled Out By U.S. Treasury To Avert New Debt Crisis

The silly and somewhat insane uber Keynesian “Trillion Dollar Platinum Coin” appears to be now firmly off the table.

The US Congress has once again ruled out the possibility of issuing a “trillion dollar platinum coin” floated as a possible solution to the looming US Debt Crisis.

The US Congress has once again ruled out the possibility of issuing a “trillion dollar platinum coin” floated as a possible solution to the looming US Debt Crisis.

Pressure is mounting as Treasury Secretary Jack Lew said earlier this week that Congress would need to raise the nation’s borrowing cap by November 3 to avoid a potential default.

“If Congress fails to raise the nation’s debt ceiling by that date, the US could risk a first-ever default on its obligations”.

Brett LoGiurato, writing in UK Business Insider, points out that as a resolution to the US  debt ceiling is still unclear, “speculation has popped up once again about two popular theorized “work-arounds” — the 14th Amendment and the “trillion-dollar platinum coin.”

Read more on the GoldCore.com blog