Of the 14.3 trillion, the Fed holds 1.4 trillion, which I wrote about
before. That must mean that the Treasury owes the Fed this amount. If the Treasury coined 1.4 trillion, it can then be used to pay off this debt, thereby lowering the debt outstanding by that amount, right? Then "new" debt could be issued that would be under the debt ceiling imposed by Congress. I know this probably sounds crazy, but what could prevent it?
The Treasury has the power to mint coins,
if what I read is true. Now, I don't know that they should really want to do this, but it may all be legal and above board. If all of this is indeed true, then all we have here is a lot of huffing and puffing over nothing.
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