As the nation’s most-watched cable news network, Fox News is responsible for informing millions of Americans on the issues of the day. Unfortunately for the American people, the network often fails to grasp basic, kindergarten-level concepts. Today, for example, we learned that Fox News does not understand that the value of money is not equal to the value of the material used to make the the money. The proposed “trillion-dollar platinum coin” would not be composed of one trillion dollars of platinum, just as a $100 bill is not made from $100 worth of paper.
Perhaps Fox News simply got some bad information from its political wing, the Republican Party, which, incredibly, made the same mistake yesterday.