The New $1 Trillion Dollar Coins are made of platinum and could solve the American Debt Crisis. The way that the United States Federal Reserve prints money has legal restrictions, only a certain amount of gold and silver is allowed to be turned into coins. There is also a restriction on how much paper money can be in circulation at any given time. There is however no restriction on coins being printed in platinum not by quantity and not by denomination. Hit the Jump for more.
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Though how this would effect the currency market, Politicians look for more and more ways to solve the economic debt crisis in America. Cris Kreuger an analyst at Guggenheim Partners listed it as fourth on a chart of ideas the country could use to escape the fiscal cliff negotiations. Coin seignorage could make a come back and infuse the country with another way to pay for our countries massive debt. More Conservative analyst say it could have a negative impact on inflation, however I’m certain that this idea will continue to rise until either it is in practice or the debt is cleared.
