Have you ever heard of currency $1 trillion platinum? If you only know it in general terms or do not know anything about it, in the following paragraphs we will explain it to you.
It should be noted that the only platinum coin that has been issued in the United States is the American Platinum Eagle, a commemorative coin of the North American country that has been issued in denominations of up to $100.
WHAT IS THE $1 TRILLION PLATINUM COIN?
The trillion-dollar coin, known in English as the Trillion-dollar coin, “is a concept that arose in the United States debt ceiling crisis of 2011. “as a proposal to circumvent any necessary prior permission from the North American Congress to increase the country’s debt limit, through the minting of a very high value platinum coin,” he says. Wikipedia.
Although a political stir was generated that year, the truth is that The proposal to release a $1 trillion platinum coin emerged in 2010.when the lawyer Carlos Mucha wrote – in the comments section of a blog dedicated to unconventional monetary policy – that to avoid the Washington government defaulting on payments, a platinum coin of that value should be minted based on the 1997 Monetary Law, he specifies. BBC.
Although some considered his approach crazy, others supported it, including renowned economists. Despite having 7 thousand signatures in favor of him at that time, his proposal did not prosper, but it did have a lot of echo until later years, as happened in June 2023 when increasing the state debt limit was being discussed. Joined.
WHY SHOULD IT BE PLATINUM?
In accordance with United States regulations, If you intend to mint a coin that exceeds the value of 50 dollars per manufactured piece, it must be made of platinum; Therefore, the 1 trillion dollar coin should be made of that metal.
THE REASON WHY THEY SAY IT IS IMPORTANT TO THE US.
Some experts and analysts who are in favor of it point out that the issuance of a $1 trillion platinum coin is very important because can save America from bankruptcyin addition to helping finance government expenses.