At the same time platinum itself would become so valuable it'd be worth stealing cars just to melt down their catalytic converters ~ which use platinum.
Then there's the Low Energy Nuclear Reaction (LENR) experiments that are dominated with platinum based processes. They would be wiped out of existence.
It might be worth looking into the identity of the folks peddling the platinum coin idea. Do they come from the high energy physics community? Or, are they perhaps from the LENR community seeking to make gazillions out of their metal stock on hand!
They come from the community of illusionists.
Exactly. That’s what they floated out there - mint a platinum coin at the value of a trillion dollars. At least you’d have actual value of metal compared to a paper note stamped with one trillion on it. Either way it’s no different than how fractional reserve lending or derivatives create money out of nothing. At least we’d have a tangible platinum coin instead of paper or a computer entry.
And as long as we’re considering it, mint up around 200 of them to cover the 200 trillion in derivatives that will tank the entire world economy if/when they crash.
But they aren't talking about a "free platinum" policy, where you could take your ounce in, get it minted into a million dollar coin, like in the "free silver" days. They are saying they can take one specific ounce of platinum and decree it to be a trillion, by stamping on some writing. Your catalytic converter's value would be unchanged.
It's just debt free "fiat" money. only it's 99.99999% fiat and .000001% metal.
as well as the platinum used in the chemo drug cisplatin..
“you just say a few ounces of platinum is worth a trillion bucks”
Fancy schmancy plantinum isn’t needed. Just print a trillion dollar note!
I haven’t heard that much about Platinum in LENR experiments being valuable. I’ve heard of Palladium. Also whatever the catalyst to go from H2 gas to H1 gas, usually Tungsten. Maybe something fancy & radioactive like Technetium, but I doubt that one.