Obama Adminstration was ready to print a $1 trillion coin

If nothing else tells you that the your currency will one day be
destroyed by governments is that fact the Obama administration was
ready to start printing trillion dollar coins.

Pod Save America

On “Pod Save America,” a podcast from Crooked Media, the new media startup featuring former Obama staffers and speechwriters, Obama was asked what the “scariest moment” of his presidency was.

“I think it was the moment when it seemed that John Boehner didn’t seem to generate the votes to make sure the US didn’t default on our debt,” Obama said, referring to the former House speaker. “We had to start drafting a speech.”

Obama told the podcast that, amid the possibility of a government shutdown and default that would most likely have lowered the US’s credit rating, the administration was considering numerous options to avoid the shutdown and deal with the national debt.

One of the ideas floated, Obama said, was having the US Treasury mint a coin worth $1 trillion to pay off a good portion of the debt.

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