6 chapters across the catalog
US Debt Ceiling, One Trillion Dollar Coin Proposal
President Biden addresses the looming debt ceiling crisis, stating that the U.S. has never reneged on its debt in 200 years. Economist Paul Krugman's proposal to mint a one-trillion-dollar platinum coin to avoid default is discussed. The hosts mock the idea as non-sensical and question Krugman's claim that such a move would not be inflationary.
The concept of minting a "trillion dollar platinum coin" has resurfaced in Forbes as a potential solution to the debt ceiling crisis. This proposal, which has appeared periodically since 2013, involves depositing the coin with the Federal Reserve to bypass congressional borrowing limits. Related historical proposals include the 2020 ABC Act, which suggested monthly debit card reloads for all residents during the pandemic.
Trillion Dollar Coin, Paul Krugman Debt Ceiling
Economist Paul Krugman revives the "Trillion Dollar Coin" proposal as a solution to the U.S. debt ceiling crisis. The hosts dismiss the idea as a recurring media distraction, referencing a 1990s episode of The Simpsons that featured a similar trillion-dollar bill plot.
The "Automatic Boost to Communities" (ABC) Act is proposed, which would provide $2,000 monthly debit cards to all residents, funded by the minting of two $1 trillion platinum coins. The hosts trace this "dumb" idea back to 2013 and a classic episode of The Simpsons. They note that both "nut job Republicans" and progressives like AOC have now embraced the concept of magic currency.
John Brennan CIA Nomination and Trillion Dollar Coin Meme
John Brennan has been nominated to lead the CIA, immediately followed by reports of drone strikes in Pakistan. The hosts also discuss the "Mint the Coin" movement, supported by Nobel laureate Paul Krugman, which proposes a trillion-dollar platinum coin to solve the debt ceiling. They credit No Agenda producers for finding a 1945 *Simpsons* episode that predicted a trillion-dollar bill.
Trillion Dollar Platinum Coin, Debt Ceiling Crisis
Representative Gerald Nadler and various economists have proposed minting a one trillion dollar platinum coin to bypass the debt ceiling crisis. The hosts explain the legal loophole that allows the Treasury to mint platinum coins of any denomination. They argue the proposal highlights the conceptual and "fake" nature of modern money.
