Why would the US mint a trillion-dollar coin?
Why would the US mint a trillion-dollar coin?
The trillion-dollar coin is a concept that emerged during the United States debt-ceiling crisis of 2011, as a proposed way to bypass any necessity for the United States Congress to raise the country’s borrowing limit, through the minting of very high-value platinum coins.
How much would a trillion-dollar platinum coin weigh?
42,778,918 pounds
Of course this isn’t what is being considered, but what if the U.S. Treasury minted a coin from $1 trillion worth of platinum? Such a coin would weigh 42,778,918 pounds — the equivalent of nearly seven Saturn V rockets — and occupy 31,947 cubic feet.
How many trillion-dollar companies are there?
The current trillion-dollar club members There are currently just five companies that can claim a trillion-dollar valuation, four of which are based in the United States. Apple is the world’s only $2 trillion company, hitting that landmark in August 2020, just two years after achieving $1 trillion status.
Would the trillion dollar coin cause inflation?
Most people know that when Congress prints (or mints) fiat money, it can cause inflation. However, the trillion dollar coin would not cause runaway inflation, as many might fear, according to an article in The Atlantic. The coin isn’t paying for new spending and, as such, won’t be spent all at once in a lump sum.
Which is the next trillion dollar coin?
Ethereum is the Next Trillion Dollar Cryptocurrency. It’s no secret what Teeka’s next trillion dollar coin is: it’s Ethereum. Ethereum and its native Ether (ETH) token have been the world’s second largest cryptocurrency for years. It’s possible Ethereum could rise to a $1 trillion market cap in the near future.
What is the largest denomination of coin that the US has ever minted in the past?
The largest coin ever minted by the US Mint was a gold “Half Union” pattern in 1877, weighing 83.45 grams, and 51.1 mm in diameter. The largest coin actually issued by the mint was the Panama-Pacific Exposition $50 gold commemorative, at 83.572 grams and 44 mm.