Turning Treasury Securities into Century Bonds Is a Dead End

Turning Treasury Securities into Century Bonds Is a Dead End

In times of rising debt and fiscal strain, unconventional ideas occasionally surface as ways to manage the US government’s borrowing obligations. Few have forgotten the trillion-dollar platinum coin scheme a few years back. A recent suggestion, associated with Stephen Miran’s A User’s Guide to Restructuring the Global Trading System (aka The Mar-a-Lago Accord) involves forcing or pressuring holders of US Treasury securities to exchange their cur…