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Ppolicykeys.bsky.socialJan 15, 2024 11:24am

4 Days Until the Government Starts Shutting Down. Minting the Interest on the debt would be a permanent solution. It's another "going off the gold standard" moment. Congress still controls spending. policykeys.com/publicpolicy...#econsky #polisky #USpolitics #USelections #MintInterest #publicadmin

Our patriotic parrot forges a trillion-dollar coin and a new way for money to deal with 21st-century problems.

Four Days Until the Government Starts Shutting Down. There probably isn't enough time to invoke the 14th Amendment to prevent a devastating debt default. This week's flight of articles is a permanent solution: Mint the Interest on the debt. It's another "going off the gold standard" moment in history.

Ppolicykeys.bsky.socialDec 31, 2023 11:24am

#MintInterest policykeys.com/publicpolicy...#polisky #econsky

Parrots are wading into the delta and the debt default debate surrounding a trillion-dollar coin.

A Trillion Dollar Coin, Really?
The constitutional basis for the Treasury’s seignorage power to mint coins stems from Article 1, Section 8, Clause 5 of the U.S. Constitution, which gives Congress the power:

Unlike the useless penny, or nickel for that matter, the trillion dollar coin is a very useful way to fix the Federal Reserve’s balance sheet.

The coin isn’t worth a trillion dollars in metal, just like a paper dollar isn’t worth one dollar of paper. Only Congress can spend money. The Federal Reserve is where dollars are born, like when banks make loans, and where dollars die when you pay your taxes.

Thirteen Keystrokes
If the Treasury deposited a trillion dollar coin ($1,000,000,000,000) at the Fed, then thirteen keystrokes would be made on a computer, and the Fed could continue paying the county’s bills and interest to the bondholders.

With fourteen keystrokes, the Fed could...

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