The trillion-dollar coin is an idea to save the United States from bankruptcy. Supporters of the idea say the U.S. government should mint a trillion-dollar platinum coin to sidestep the debt ceiling and somehow avoid defaulting on the debt. In January 2013, the Treasury Department put the idea down. Said it was illegal. In February, American Mint issued a platinum-plated collector's coin that shows what the trillion-dollar coin could look like.
The coin would be deposited at the Federal Reserve. It would improve the government's account thereby. The government could borrow another one trillion dollars. The government would avoid the fiscal cliff or debt limit.
Why one trillion? It is a nice number. It is still manageable in a sentence. It does not have too many zeros. Some say it should be two trillion dollars. As the situation is, it might well come to be.
One trillion … How many 1 oz platinum coins would that be? In the U.S., a trillion is 1,000,000,000,000. One troy ounce (1 oz tr) equals 31,1035 g. The government would need 32 billion (32,150,722,587.5) 1 oz platinum coins.
Federal borrowing has officially reached the USD 16.394 trillion debt ceiling. The U.S. will default on its debts unless Congress acts. I have no clue what happens next. What I do know is how I can protect my money if inflation prevails. I pack my stack