Post
Topic
Board Economics
Re: If the USA can't raise the debt ceiling in time what will happen to the price?
by
Andris
on 31/07/2011, 20:53:18 UTC
Only because the debt would have, legally, been paid.

Of course, those receiving the trillion-dollar platinum coins would probably be a little upset.

Or they might just deposit them, flooding the USD market, and life would go on, albeit with a new surge of inflation.

Only two coins would be minted, and they'd largely be symbolic - i.e. you can't steal them. It's only inflationary if the currency they pay for enters common repeated circulation, which simply isn't happening at this point.