4.8 • 1.2K Ratings
🗓️ 21 May 2023
⏱️ 2 minutes
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| 0:00.0 | I guess I don't I those options are like going above my head because I'm like what mint the coin what does that even mean the bonds of this like what does mint the coin mean briefly what is what do you mean like just make a bigger denomination? No, this is very cool. |
| 0:13.8 | I like this. |
| 0:14.8 | Yeah, please. |
| 0:15.8 | So there's this random blog comment guy. |
| 0:20.7 | He goes by Mucha Carlos who found this loophole in the law regarding like minting of like commemorative |
| 0:29.8 | platinum coins. Oh God don't tell Trump about this he's gonna. Oh they did they did they told |
| 0:36.0 | you know because there was some controversy about raising it during the Trump years and people said |
| 0:40.7 | ah just tell Trump he can put his face on the coin. |
| 0:43.2 | Right, and he'll do it. |
| 0:45.2 | But the law says you can mint coins of any denomination. |
| 0:49.8 | No restrictions. |
| 0:51.2 | And that was intended to provide like purchasing power to the government through, you know, |
| 0:57.2 | senior, through printing money. And so what you could do is print to, you know, mint a trillion dollar platinum coin or whatever you know right and then you |
| 1:06.4 | did to the tell the Treasury to deposit that coin at the its account at the Fed and |
| 1:12.0 | basically you would you would have through an absurd legal |
| 1:15.9 | contrivance preserved the spent given the government additional spending power |
| 1:20.3 | without issuing any more debt. Right. |
| 1:23.0 | And you know, eventually you would unwind it, you know, like you could buy it back with issued bonds once you did, |
| 1:29.2 | you know, raise the debt ceiling, but... |
| 1:32.2 | Trump didn't want to mint a trillion dollar coin with his fucking face on it |
| 1:36.9 | we're doomed |
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