I still think he is privately bluffing, but imagine playing the "I will blow all of it up" card for... what does McConnell even want, the Dems not to pass their very weak $3.5T infrastructure bill?
I still think he is privately bluffing, but imagine playing the "I will blow all of it up" card for... what does McConnell even want, the Dems not to pass their very weak $3.5T infrastructure bill?
I am calling it now. If they don't raise the debt ceiling, the Federal Reserve will buy defaulted treasuries for full price and sell from their massive reserve of treasuries to compensate.
The Fed is basically a rogue agency with vast powers, I can see them doing whatever it takes. Hell, just print money and buy treasuries with it.
The old Platinum Penny idea has been floated a number of times.
"Just mint a coin with $1 Quintillion Dollars written on it and deposit it in the Treasury and then you have unlimited money forever, the end".
Technically possible. But too ballsy for any sitting President to try just yet.