contemplating frankly, you know, bizarre alternatives, the minting of a trillion dollar coin, which every time this happens, i hear about. the use of the 14th amendment which would be weeks and months and possibly years of litigation. so, look, i hope a deal gets done and the debt ceiling gets raised, but what really needs to happen is this absurd and dangerous debt ceiling needs to be removed from the law. i ve now been through this five or six times in my congressional career. and no american thinks we should pass legislation not because we passed something in the senate and the house and get the president to sign it, but if we don t pass it, we ll blow up the global economy. that s not the way it is supposed to work. fingers crossed it gets whether we want to go through this every year in future. yeah. that s a great there s so many serious issues involved with this. on a lighter one, this trillion dollar coin thing. tell me a little about that. how do we get one?
downgrading of the debt, turmoil in the market that obama and even biden, who was heavily involved in those negotiations came out of that experience and said never again. and that is indeed the posture is he holding to now. but the president knows he can t go there. politically, it would be suicide. yeah. and he does have options, doesn t he? well, right. first, the option the fig leaf that he is offering republicans is one that makes sense for both sides in the sense that he is saying i will negotiate with you on the budget. i understand that we have to do that. i just will not do so in the context of you threatening a default, which could have tremendous ramifications for the domestic and global economy. the more extreme versions of that, the minting of the trillion coin claiming that under asserting that under the 14th amendment, the u.s. cannot default on its debt. it s kind of a unilateral rejection of congress role
prioritization and minting the coin. can you speak to whether either of those have been studied by your staff. no, i can t. because i don t think anybody has studied the minting of the coin issue. and there has been discussions about whether or not the 14th amendment can be invoked. can is that the most likely worst case scenario? i don t think that solves our problem now. i think that only solves your problem if once the court has ruled that it does apply for future endeavors. yes, sir? mr. president, do you trust kevin mccarthy? i i trust kevin will try to do what he says. i don t know that, um, i don t know how much leeway kevin mccarthy thinks he has in light of the fact and i m not going to be a wise guy when i say this took 15 votes for him to acquire the speakership. and apparently he had to make some serious concessions to get it from the most extreme elements of his party. so, i but i don t i just
in the same place. i ll be blunt with you, we get by this, i m taking a look at months down the red to see what the court would say, whether or not it does work. yes, sir. do you have time to get a deal and get it through before the deadline as early as january 1st, that secretary yellen has warned of? i know we have the time. we could do it easily. do we have the will. and there s other proposals like prioritization of payments and minting coin, can you speak to whether either of those have been studied by your staff? no, i can t, because i don t think anybody studied the minting of the coin issue, but there have been discussions about whether or not the 14th amendment can be invoked. reporter: is that the most likely unilateral executive path going forward? i don t think that solves our problem now. i think that only solves your problem if once the court has ruled that it does apply for future endeavors, yes, sir.
else. and then this morning we hear the regulator in new york has basically shut down the minting of binance tokens. there are $64 billion of binance tokens held in two wallets. well, i wonder who owns those? if one of those people wants to sell, that s binance down the drain. it s going to get very interesting. real quick, you said that you would do everything because you are a spokesman for the sam bankman-fried, ftx, do everything to track down the money. have you made any progress? it s the narrative on the situation for everybody is around recovery. we heard about 4.2 billion, another 400 million of cash. where is it? we need the regulatetory give us the data. you said you would work with him again? no, no. that was long before i have been known on shark tank for a decade i will give money to catastrophic money to experience for failure, not when you are involved in an alleged fraud. i want to talk about this tweet on saturday. you said you may lose your wife, lose