OTLY - Wall Street Breakfast: Trillion-Dollar Gimmick

Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha, iTunes, Stitcher and Spotify. Trillion-dollar gimmick As the debt ceiling crisis escalates on Capitol Hill, a once far-fetched solution to the dilemma has been gaining steam. Talk of a trillion-dollar platinum coin - which would be deposited at the Federal Reserve as an asset swap - could result in an extra $1T to cover a big portion of Washington's bill. In fact, the coin could be minted "within hours of the Treasury Secretary's decision to do so," said Philip Diehl, former director of the U.S. Mint under the Clinton administration. Backdrop: The concept of a trillion-dollar coin dates back to 1992, when populist presidential candidate Bo Gritz suggested the idea during his second White House run. The idea resurfaced during the debt ceiling crisis of 2013 and the Obama administration

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Wall Street Breakfast: Trillion-Dollar Gimmick