In an attempt to circumvent the debt ceiling issue, the Administration passed an idea by the public to see the reaction- create a $1,000,000,000,000 coin and deposit it with the Federal Reserve Bank thus creating money in one simple act. Clearly, it did not fly. History will ask the question “What were these guys thinking?” The sad reality is that the American public has degraded to the point where an attempt of this nature could even be contemplated. My oh my.
The following is an excellent concise article about this latest attempt: