Ed Moy Quoted on Politico; $1 Trillion coin
Mint the Coin: $1 Trillion coin draws laughs from former Mint director
A campaign for the U.S. government to create a $1 trillion coin to help pay off its debt has Edmund Moy — a man who used to make money for a living — laughing.
By MJ Lee
Quote:
“At best, this is a budget gimmick. At worst, it’s a bad joke at some of the cocktail parties that you’ll be going to this week.”
“It’s a fiat currency, meaning it has one ounce of platinum, which is $2,500 or whatever platinum is going for today, backing up a trillion dollar coin. … You’re making money out of thin air.”
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Tags: Coins, United States Mint
Categorised in: News