So they want Timmy Geithner to “mint” a trillion dollar platinum coin, and deposit it at the Federal Reserve, thus eliminating the “Debt Ceiling” debates facing the President in a few weeks.
Kind of bizarre, given the facts on PLATINUM:
So you want a trillion dollar platinum coin? Ok: here are some facts:
- Platinum has traditionally been the most valuable precious metal for one simple reason: it is rare.
- It is so rare, that all the platinum ever mined could fit into a 25 cubic foot box.
- The weight of that box comes out to just over 16 tons: this is how much platinum has been mined since the start of time.
- A coin valued at $1 trillion and made out of platinum would, at today’s price of $1557/ounce, weigh in at 642.3 million ounces.
- 642.3 million ounces is also roughly 18 thousand tons, or about 1100 times more than all the platinum mined.
SEE Graph @ ZeroHedge: http://www.zerohedge.com/news/2013-01-04/putting-trillion-dollars-platinum-perspective