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<p>[QUOTE=&quot;juris klavins, post: 7936105, member: 76693&quot;]Sorry about the bum link - here&#039;s a paste/copy of the info:</p><p><br /></p><p><br /></p><p>A trillion-dollar platinum coin could be minted &quot;within hours of the Treasury Secretary&#039;s decision to do so,&quot; Philip Diehl, former director of the United States Mint, tells Axios.</p><p><br /></p><p>Why it matters: Congressional solutions to the debt-ceiling problem could take weeks to implement, especially if the reconciliation process is used — and <a href="https://www.cnbc.com/2021/09/28/congress-must-raise-the-debt-limit-by-oct-18-yellen-warns.html" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.cnbc.com/2021/09/28/congress-must-raise-the-debt-limit-by-oct-18-yellen-warns.html" rel="nofollow">time is running out</a>. In case of emergency, a trillion-dollar coin <a href="https://www.axios.com/the-coin-that-could-avert-a-federal-debt-default-f4d7e1ab-25d9-4add-8059-5493c47ac341.html" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.axios.com/the-coin-that-could-avert-a-federal-debt-default-f4d7e1ab-25d9-4add-8059-5493c47ac341.html" rel="nofollow">could be deployed</a> to bridge any gap between the money running out and the debt ceiling being raised.</p><p><br /></p><p>How it works: The U.S. Mint, which Diehl ran from 1994 to 2000, already produces a one-ounce <a href="https://www.usmint.gov/coins/coin-medal-programs/american-eagle/platinum-bullion" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.usmint.gov/coins/coin-medal-programs/american-eagle/platinum-bullion" rel="nofollow">Platinum Eagle</a> and has no shortage of platinum blanks already in stock.</p><p><br /></p><ul> <li>Producing a trillion-dollar Eagle would require only the denomination to be changed. &quot;This could be quickly executed on the existing plaster mold of the Platinum Eagle,&quot; says Diehl. Then an automated process would transfer the new design to a plastic resin mold.</li> </ul><p>Even if Janet Yellen, the Treasury secretary, has no intention of minting such a coin, there is no reason for her not to quietly instruct the Mint director to take those steps a day or two in advance.</p><p><br /></p><ul> <li>At that point, a coin could be struck in minutes at the West Point mint. Even if it then needed to be physically deposited at the New York Fed, that&#039;s only a short helicopter ride away.</li> </ul><p>&quot;Voila, we&#039;d have bought ourselves the equivalent of a trillion-dollar increase in the debt limit, without any impact on inflation,&quot; says Diehl.[/QUOTE]</p><p><br /></p>

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