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A comment on Trillion-dollar platinum coin could be minted at the last minute. Parent comment
Treasury trades the coin to the Fed for existing bonds the Fed already owns.
Treasury extinguishes the bonds.
Fed's balance sheet is unchanged, minus a trillion of bonds, plus a trillion of coin.
Treasury's balance sheet is unchanged.
Zero new money in circulation.
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Treasury trades the coin to the Fed for existing bonds the Fed already owns.
Treasury extinguishes the bonds.
Fed's balance sheet is unchanged, minus a trillion of bonds, plus a trillion of coin.
Treasury's balance sheet is unchanged.
Zero new money in circulation.