The Platinum Option: Could 1 Coin Solve the Debt Crisis?

An odd loophole in minting law is becoming a metaphor for the absurdity of the debt crisis.

Morgan Housel
Morgan Housel and Matt Koppenheffer
Jan 1, 2013 at 3:00PM
Financials

Earlier this month, The Washington Post wrote that a loophole in minting law means that, technically, the U.S. Treasury could mint platinum coins, label them as being worth $1 trillion apiece, and use them to pay off the banks, nations, and individuals that hold the nation's debt. In this video, Motley Fool analysts Morgan Housel and Matt Koppenheffer discuss that while this obviously wouldn't work as a real-world solution, by being a silly answer to the problem, it does highlight how absurd the problem has now become.