shades fills you in

back in 2013, the atlantic surfaced the concept of the trillion dollar coin: the treasury mints it for the federal reserve, which then uses it to pay down debts and avoids congress having to raise the debt ceiling

and this year the new republic is fed up with congress fighting again about the debt ceiling: minting the trillion dollar coin would be the *perfect* solution. the gop is being unreasonable in refusing to raise the ceiling

an msnbc op agreed: house republicans are threatening to force the u.s. to default on its debts, a situation that would have disastrous economic consequences. biden has to embrace the trillion dollar coin loophole

but the mises institute doesn’t like the idea: the treasury would have to fabricate the value of a coin just to plunge the nation deeper into debt. it’s bad for taxpayers and it could make inflation worse

and forbes said a trillion dollar coin can’t exist -- it’s not real currency and there is no demand for it

national review added that the trillion dollar coin would only be a bandaid solution: it would buy the treasury less than a year, and wouldn’t address the root problem -- the government’s tendency to overspend

perhaps this debate is for nothing. the secretary of the u.s. treasury, janet yellen, rejected the trillion dollar coin idea. she said the fed simply wouldn’t go for it -- and the ultimate decision lies with the fed