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In response to
"Alas yes -- (edited)"
by
ty97
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It's no more a gimmick than printing bills and minting coins. Most financial transactions are electronic
Posted by
TWuG
Apr 16 '20, 12:17
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backed by currency that is... elsewhere.
This is the same thing. What makes it work is seigniorage, which is the difference between the production value of a coin or bill and its face value.
In this case, the seigniorage would be $1 trillion per coin, minus the cost of the platinum, which is ~$780 an ounce right now. It's as much fantasy as the difference between the cost of paper and printing of a $100 bill and the $100 it represents. It costs less than $0.16 to print a $100 bill.
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