Crazy Or Canny? Talk Grows About $1 Trillion Platinum Coin
We're pretty sure this won't happen.
But ...
You practically can't visit a news site these days without seeing a story about why President Obama should or should not order the Treasury Department to strike a platinum coin "worth" $1 trillion and deposit it with the Federal Reserve.
And why would Obama want to do that? Because, as we've said, the next big political battle in Washington comes in mid-February when the federal government again hits its "debt ceiling" and won't be able to borrow any more money. Republicans are saying they won't go along with an increase of the debt ceiling unless Democrats agree to some serious spending cuts. President Obama has said he's not going to go through another battle like the one in 2011 when much of the government almost had to shut down.
The Two-Way
What Does $1 Trillion Worth Of Platinum Look Like?