Policy wonks are debating whether a $1 trillion platinum coin would be a clever or insane way for President Obama to play hardball with Republicans in the upcoming debt limit battle.

Here's what you should know about this crazy-sounding idea:

1. A legal loophole gives the Treasury Secretary apparently unlimited authority to mint platinum coins.

Over the past seven trading sessions we have seen stocks plummet in price because of the debt issues in the United States. I think a lot of individuals including myself thought that a bill would have been passed last week and with a plan underway money would flow back into stocks for a relief bounce at minimum.