The Treasury will not produce a $1T platinum coin as a way of bypassing the problem of the debt ceiling, quashing an idea that has gained currency with Democrats and various high-profile economists and commentators. Neither the Treasury nor the Fed "believe that the law can or should be used to facilitate the production of platinum coins for the purpose of avoiding an increase in the debt limit," the Treasury said yesterday.
The Treasury will not produce a $1T platinum coin as a way of bypassing the problem of the debt...
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