U.S. Treasury will not mint $1 trillion platinum coin to deal with debt

Anthony Coley, a spokesperson for the United States Treasury Department, issued a statement to the Washington Post on Friday that confirmed that the Treasury will not be minting a $1 trillion platinum coin to evade the debt ceiling. Even if the Treasury Secretary ordered the department to do it then the Federal Reserve would not accept it.

Here is the full statement:

“Neither the Treasury Department nor the Federal Reserve believes that the law can or should be used to facilitate the production of platinum coins for the purpose of avoiding an increase in the debt limit.”

Of course, such a proposal shouldn’t be given a serious response, even if Mr. Destruction himself, Paul Krugman, supports the absurd concept. No wonder why the U.S. is in the midst of an economic collapse.