Yellen dismisses minting $1 trillion coin to avoid federal default

MarketWatch/Andrew Duehren/1-22-2023

“Treasury Secretary Janet Yellen said the Federal Reserve likely wouldn’t accept a $1 trillion platinum coin if the Biden administration tried to mint one to avoid breaching the debt limit, dismissing an idea that has been floated to circumvent Congress on the issue.”

USAGOLD note: Why do some choose to believe that outrageous solutions do not come with equally outrageous consequences? The best solution is to abolish the debt ceiling. It serves no practical purpose.

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