10/29/2023 0 Comments President on us coins![]() ![]() Treasury Secretary Janet Yellen warned on Tuesday that the government would run out of cash unless the federal borrowing cap is lifted. ![]() Such a maneuver would bypass Congress, which is again flirting with disaster. The president could direct the Treasury Secretary to mint a $1 trillion piece that could be deposited in the Federal Reserve and used to cover a big portion of Washington’s bills. The idea for the pricey platinum-which would be unprecedented but not necessarily illegal-was originally floated in 2011 as a run-around in the recurring war between Democrats and Republicans over lifting the debt limit to enable the government to pay its bills.Ĭhampions of the idea point to a 1997 law, which in theory would allow the Treasury Secretary to authorize a platinum coin at the value of his or her discretion.
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