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Idea of minting $1 trillion platinum coin to avoid U.S. default is back and Yellen weighs in
As the debt ceiling debate takes over the headlines in the U.S., so is the idea of minting a $1 trillion platinum coin, which is a surprising option available to the Treasury Department to raise the debt ceiling without bipartisan support. The #MintTheCoin plan is gaining traction in some circles again as a deeply divided Congress makes the debt ceiling debate extra difficult, with fierce arguments on both sides of the aisle around debt, inflation, and the path forward. According to the Treasury Department, the U.S. is bumping up against the current borrowing limit of $31.4 trillion. And if the debt ceiling is not ... (full story)