Ok, here’s the idea.
1. The U.S. Mint (i.e. Department of Treasury) produces a platinum coin with face value of $1 Trillion.
2. Department of Treasury deposits $1 Trillion coin at Federal Reserve Bank.
3. Federal Reserve Bank deposits $1 Trillion at U.S. Treasury
4. U.S. Treasury spends the money as directed by Congress.
Some of our legislators are promoting this stupid idea to solve our debt problems.
Take a look: Trillion Dollar Coin Solution – Fox Business video (2 minutes)
This chart at Zero Hedge shows how the whole idea is a fiction, nothing more than printing money. – also the comment in the post is worth your time.
I feel so much better that all of our problems are solved!