Thread by @rohangrey

Here's how to #mintthecoin

1) Biden announces a new "emergency budget stability and national security seigniorage fund" at Tsy, and declares that every day between now and June 1 Yellen will deposit another $10bn platinum coin into the fund until R's pass clean ceiling increase

2) Then, on June 1, Biden/Yellen will begin depositing $100bn coins in the fund.

Crucially tho, Biden announces he has no intention of using the fund if the debt ceiling is increased cleanly - if that happens, he will instead recall the coins and shut down the fund

3) If Rs refuse to vote for a clean debt increase, and we hit x-date, then Biden will stop minting more coins, and direct Sec Yellen to use the fund to cover daily spending until the previously accumulated balance is run down completely to zero or R's vote for a clean increase

4) If the Rs continue to refuse to pass a clean increase, and the emergency fund is depleted, Biden will then crease a new fund, called the Permanent Fiscal Financing Fund, and mint a $X trillion coin sufficient to cover annual budget costs (and then some).

cc @SenJeffMerkley @AOC @RashidaTlaib @RepJayapal