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Total US Debt Hits $14.237 Trillion, Debt Ceiling At $14.294 Trillion
And from the relentless shock and awe happening abroad every single day, we briefly turn our attention to the total financial chaos domestically. Following the settlement of $67.6 billion in debt from last week's auctions, the Treasury managed to raise its dangerously low cash to a level that will give Tim Geithner pocket change for another week, or $99.5 billion. Alas, the cash buffer came at a price: total debt increased from $14.166 trillion to $14.238 trillion. As a reminder, the debt ceiling is $14.294 trillion, so on a pure basis there is a $56 billion buffer or less than one's week's worth of auctions. However since the debt actually subject to the limit is $52 billion less, there still is $109 billion in constitutional capacity. Add to that the $45 billion in SFP run offs over the next two week and Treasury has $150 billion or so in spending money left. As the deficit in the month of March is expected by Zero Hedge to be around $90 billion due to the deferred tax refund payments, we believe the money will last the US a month and a half, although once again depending on the daily burn rate, it may come much sooner as there is no book debt settlement until the week after next.
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LOL! And what has that brought to us? NOTHING! Just loan sharks on Wall Street got their vig.
was this a government created earthquake? this is impeccable timing. Indian Ocean and Haiti were practice runs.......This is a man made earthquake. And I think they can do it.
Now that's crazy talk.
HAARP is a passive research project it is not The Military's Pandora's Box!
http://haarp.net
Pomo is a passive... research project... it is not a Millitary's / FED's Pandora's Box!
http://www.newyorkfed.org/markets/tot_operation_schedule.html#
No, that's giving the government far more credit than they deserve. Though it is causing fools to give the government lots of credit, as in their money.
not the government, the ghouls that control it.
I woke up this morning and I don't even know what a "$" actually is any more. It's certainly not "money". I think it's a unit of (or measurement of) insanity. We have finally arrived at pure Leninism - where there IS NO CONCEPT OF MONEY any more.
“Hundreds of thousands of rouble notes are being issued daily by our treasury. This is done, not in order to fill the coffers of the State with practically worthless paper, but with the deliberate intention of destroying the value of money as a means of payment. There is no justification for the existence of money in the Bolshevik state, where the necessities of life shall be paid for by work alone.
Experience has taught us it is impossible to root out the evils of capitalism merely by confiscation and expropriation, for however ruthlessly such measures may be applied, astute speculators and obstinate survivors of the capitalist classes will always manage to evade them and continue to corrupt the life of the community. The simplest way to exterminate the very spirit of capitalism is therefore to flood the country with notes of a high face-value without financial guarantees of any sort.
Already even a hundred-rouble note is almost valueless in Russia. Soon even the simplest peasant will realise that it is only a scrap of paper, not worth more than the rags from which it is manufactured. Men will cease to covet and hoard it so soon as they discover it will not buy anything, and the great illusion of the value and power of money, on which the capitalist state is based will have been definitely destroyed.”
~ Vladimir Lenin
Flacon
like your posts but on this one you've got the wrong end of the stick. what's just about to happen is Credit Crunch II. Like CCI it's a mass panic in the credit (debt) game and as the credit cards collapse everyone will be running to liquidate paper (IOU's like stock certificates etc) and making a grab for hard cold cash
Namely what's about to kick off is not a further inflationary spiral of prices but a deflationary implosion in prices ....keep hold of your Dollars right about now
Will the Japan crisis be enough to trip the derivatives market and the treasury market ?, that is the question.
Even if it takes a week or 2, while the people in Japan learn to live with no power...
I have BMO on the hook for $60,000 margin that I could blow on physical any time....
It is not a spending problem though it is a taxing one.
Europe has much higher taxes and is mostly broke too,
but just ask any stupid ideological neo marxist,
big government is the solution not the problem.
Can't cut it in good economic times, can't cut it in bad economic times. Afterall what went down in WI just created more unemployment- just ask same stupid ideological neo marxist.
Likewise still waiting for trickle up economics to work.
But everyone knows the super rich are making out like bandits with 0% rates on savings and their personal spaceships.
THe stupid ideological neo marxist has largely made the concept of unattainable luxury banal but that sure doesn't stop them from whining like queens while living like kings.
We'll see how those "neo-marxists" do when big government falls flat on its face and they have to support themselves.
who the fuck are these neomarxist? Are they in your imagination? Trickle down just raped the country. You sound like a teatard. Obama is a POS that has stuck with status quo all the way, it was under bush that actual checks were being sent out to stimulate the economy. Obama has done nothing but prop up wallstreet.
Talk about a stupid idealogical bitch that whines too much.
Do you know what projection is?
The guy you voted for has spent $10trillion now. Largely making not one iota of economic difference to the good, which is very, very tough thing to do. good job prolonging the pane though, a specialty of the neo marxists.
NO seriously they need to raise the taxes on the rich, then when that money is gone in two months start taxing stupidity so the big government promoters actually pay for a change. Cause it surely isn't a spending problem it is a taxing one.
Instead of lashing out, post more about what a victim you are while living better than royalty does in most countries,
neo marxist delusional.
Only the winners pay the vig.
Which excludes most of the whining neo marxist delusionals like you.
My hope is that all people who loosely throw around words ending in "tard" get married and have a flock of mentally retarded, Autistic, Downs Syndrome type kids so they realize how painful it is to those of use who have children like this to see a slang description of our kids disability hurled about to give the user of such slang some kind of undeserved superiority complex. I mean really, can't you people make a point without using an ugly slang word that implies that your target is mentally challenged? I am the parent of an Autistic child, my best friend is the parent of a Downs Syndrome child and people who throw this insult around have no idea how utterly repulsive it is to have a loved ones disability degenenerated into nothing more than a personal insult. If you can't find a descriptive word without insulting defenseless disabled persons then please...consult a dictionary. Sorry to vent but this annoys me to no end. It seems that the insult de jure lately is retard, teatard, libtard...etc and it is repulsive!
Wealth confiscation. Bitchez!
Methinx there'll be serious ripples. Stay tuned.
And we're pushing biflation to new extremes: totally dead new housing construction, and seriously soaring energy and food prices. All thanks to new extremes of global money printing. Core PPI is in the cellar because prices can't be passed on to constrained consumers struggling with cost of living.
congress WILL increase limit, ben WILL print more money. what is there to discuss??
what is there to discuss??
Well, we could discuss how Benny will blame Congress for QE3. Because that is exactly what is going to happen after a brief hiatus.
what can Ron Paul say to this madness?? will he just quit?
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Tis but a scratch.
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And gold falls....
Maybe we are all underestimating pozi finance. If this doen't do it, what will ?
The Japanese are liquidating Gold and Silver. This should have been expected by everyone. Don't worry, Even after the Japanese exchange paper Gold and Silver for YEN JP Morgan will still have a huge short position and all will be "normal" again.
"And gold falls...."
In devaluing dollar terms...not value terms.
They're shakin out the G/S paper spec's, all the major indexes are flat or negative for the year, combined with a -3% devaluation of the dollar that you are obligated to pay tax on?...what a deal...LOL...so the printing ponzi has done nothing but raise everyone's cost of living.
Just BTFD and hold it in your hands, you can thank me on the other side ;-)
http://www.youtube.com/watch?v=sAaT3KVDhdQ
Deficits don't matter til the bankstas say they matter.
"Total US Debt Hits $14.237 Trillion, Debt Ceiling At $14.294 Trillion"
And now a word from that deficit hawk...let's all give it up for...nancy pelosi?
http://www.youtube.com/watch?v=fOWoQfeoP0I&feature=player_embedded
We won't go into the history right now?...LOL...why not?
BAB's bonds?...debt.
700 billion in debt created or saved 3.6 million jobs? (as 10 million lost theirs?...and by what accounting method?)...the 700 billion produced revenue into the Treasury that decreased the deficit?...ROTFLMAO!!!
This from a Speaker of the House who didn't even bring a budget to the floor in 2010 with an overwhelming majority on her side in both chambers and a president in her own party?
Certifiably insane.
This country. This system. This government. What a huge fucking joke.
is the Paul/Bernack fight still on for tomorrow?
No Benocide listed.
WITNESS LIST
http://financialservices.house.gov/hearings/hearingDetails.aspx?newsid=1802
Living on the edge. Good thing there is a crisis cover so both sides of the one party system can come together and move the debt target higher. Maybe they'll be smart and push it to something like 19.5 Trillion, try to push these bad boys further out.
They can invoke the "you print, I print" rule!
In the new global Ponzi where everyone is in deep quicksand, it's unfair if Japan just prints the equivalent of GDP in a week and uses it to buy up a year's worth of Saudi crude. So other countries, including the US, should get an automatic green light on printing in their own currency to bring things back in to balance. Fair is fair!
I'm ready. Let's get this party started.
http://www.youtube.com/watch?v=IKqV7DB8Iwg
This is the issue that isn't going away. Tsunamis end and mess gets cleaned up. Gulf oil spills get cleaned up. Even reactors can get shut down or repaired. But this issue, the never ending spending, is still the primary reason to buy PM.
Debt? What debt? Just sweep it under the rug-- it's the nuke option: end the fed, reform the treasury, and replace congress with actual solution providing people and not corporate sponsored stooges.
Why does a sovereign country borrow its own money from private corporations? Why is there debt at all? Why is our currency debt-money?
That is the Original Sin of our government fraud/structure.
Congress will vote to abolish the debt ceiling....problem solved - on the other hand, why bother obeying ANY laws? They seem to only enforce a few that they choose to and rarely go after the real perps, ala TBTF banksters...
"Debt, You Can Believe In!" Thanx Barry O. I hope you have a nice Vacation in Rio with the family. Say Hi to the other Bilderburg groupies. Can't wait to see what the New World Order has in store for the rest of us.
Can you treat it like a Sievert per hr thing?
How bad could it be?
We also invoke the "you print, you lend" rule.
If Japan prints the equivalent of their GDP overnight, The Fed gives its blessing provided a good chunk of it gets used to buy US Treasury debt. In the new global Ponzi where money is untied to anything real, fair is fair.
Fuck you Tim. Fuck you Ben. Fuck you to those that control them.
Yes you will get your fucking debt ceiling increase...yes you will mofo's...but remember every time you do this your complete disgusting disregard for everyone but your fucking freinds is becoming more and more evident. Every day. Keep it up.
Keep it up.
Dear Davos Group & Bilderbergs,
For many years, your institution has been sheltered. Our foot soldiers have collectively submitted their resignation. Your services have been terminated effective today. We hope your safety can be bought elsewhere. May God protect you & your families.
You'll never see this in print, unfortunately its happening.
LULZ........love the way we show that to 3 decimal places, like it's precisely accurate or something ha! what about all the "off-balance-sheet" shit?
Are hope bonds not subject to limit cause you only hope to get your money back?
Don't worry. Turbo Tim and Lord Blankcheck are arming their suicide vests this very minute for round two of 'Mo Money or Martial Law'.
Suicide Banking is alive and well.
We got greedy banks and wall street holding our economy hostage to get their $$, a pentagon holding our foreign policy hostage to get their $$$, and oh yea, we got this idiot Obama, I'm not sure what the hell he's doing.
Neither does he.
I'm getting the feeling that this entire global zombie economy that has been staggering along since 2009 is about to be decisively shot in the face. Multiple times.
The EU, Japan, the U.S, China- All a massive joke. Let's move into the next phase.
Fuck...these crisis always end in war. At least, can we have a 'green' war?, so the survivors will have the best quality of life possible.
I think I'm going to head to Argentina/Bolivia/Paraguay if or when a war happens.
And these things do happen, took a while for the post Napoleon Congress of Vienna consensu to break, but it broke in 1914 with WW1. The next consensus, formed after WW2 could be in the process of breaking.
JProblem is this time we have nice shiny nukes. Hopefully any conflict won't see their use, just as WW2 didn't see much widespread use of chemical weapons.
I plan on squatting on Bush's Paraguayan ranch.
I'm hiding in the chasm in BB's brain.
Won't there be a big infusion of cash on April 15 to help buy some additional time?
I can't think of a better year for filing an extension, which I am doing.
The really important thing right now is that in Japan a little group of people is trying to keep the water up to the level, some already dying while doing it, other injured or recieving radiation. And millions of people in Japan are in danger of seing their country become radioactive wasteland. While there is already hundreds of thousands roughing it up in tents and shelters. There is so many that have perished in this disaster and are not even accounted for, may they Rest In Peace.
Sorry I know this is about debt, but I really think these people should be given all support possible right now.
Short the Nikkei. Long live capitalism.
Sure, bet all you have.
Sure, bet all you have.
LOL I was thinking the same thing.
LOL I was thinking the same thing.
Let's where is that bazooka speech?
don't worry -Obama is going to win a ton in Vegas to pay the whole tab
http://rivals.yahoo.com/ncaa/basketball/blog/the_dagger/post/Obama-fills-out-his-bracket-picks-Kansas-to-win?urn=ncaab-wp588
Thank god we got a green print on the /es
For a second I thought we had a nuclear explosion (or 4) or something.
Debt only matters if you plan on paying it back.
The USA gubbermint clearly does not. It's not even mathematically possible. It's no coincidence that the US spends more on military than anything else.
If you lent $100 to your neighbor and upon trying collect it you were greeted with a gun in the face, what'ya gonna do?
Until the USA's miltary is broken (either from the inside or an external force), the debt don't matter.
Not only do deficits not matter any more, neither do tax revenues.
***Evil Dick Cheney smile***Except of course if it's domestic spending, infrastructure upgrades, or social safty net spending. Then it matters a lot.
***Evil Dick Cheney frown***
Neither do Mortgage Juice payments! Yippee!
once backed by gold.. then oil.. now bombs...
what is the ...?
So what stabilized the friggin' forex markets?
http://www.stansberryresearch.com/pro/1011PSIENDVD/OPSIM317/PR
Actually heard this on the radio today, no bs. I about fell out, a major metropolitan city on a wed mid-morning and I hear ALEX JONES on the radio (FM corporate run station) advertising the end of america right after lady gaga born this way and kesha blow (both mind control propaganda puppets btw)?! Time to start snorting sum idodine and play bill bixby with my neighbors geiger counter!
Stansberry is a douche...have dealt with him mano y mano...
Don't know him but he brings up valid arguements. Just the fact I heard Jones on a FM commercial talking about www.endofamerica93.com shocked me. I've always wondered who helps fund the fear mongering. hmmm
Don't know him but he brings up valid arguements. Just the fact I heard Jones on a FM commercial talking about www.endofamerica93.com shocked me. I've always wondered who helps fund the fear mongering. hmmm
Debt = credit
Credit = good.....Benny told me so.
So.....
All is well.right.?
Dead clowns don't lie.
http://www.youtube.com/watch?v=Q1KhY-9wwxo
Rumors that BOJ intervention now @ the equivalent of 1 trillion U.S dollars
Can anyone confirm this?
Well, that would answer my question. Who's rumor?
What more does it take gold and silver to move up?
When the bankstas have all your gold.
When the bankstas have all your gold.
When the bankstas have all your gold.
When will you fear mongerers learn, bond sales don't fund anything. We are no longer on the gold standard. The debt ceiling is a arbitrary number used by politicians.
It's been this way for a while. like defense spending it's all a matter of national security at this point. The country fucked up by not going after the profiteers, we are in "wartime" and all. But at this point trickle down has instigated unpresidented build ups in individual and corporate wealth and they are now turning this country into a corporate fiefdom, wall street extracting wealth for a global investor class every day all day.
America for the non rich is highways, gas stations, fast food, super walmarts, and home depots coast to coast, with pockets of underwater houses and rental property a lord might let you squat on until you stop paying your taxes. CORPORATE FIEFDOM.
double post, shitty internet connection.
CNBS reporting that the winds in the vicinity of Fukushima have changed direction. They didn't say which way the winds are now blowing. Teasing bastards.
Hey,...Doesn't USA Gov have all that Gold( cough, cough ) in the Fort that it can spend....
Ha ahhhaaa hahaaaaaa....too funny.
Fort Knox is no more. They relocated to Fort Benning Georgia.
Seems like every time there is a forced liquidation or deleveraging, PM's are the first items sold.
However, stalwart consumer stocks like WFMI, LULU, CMG, etc. are immune from such senseless selling.
Why is that?
Because you cannot "eat" gold, and the thugs will confiscate or tax it in the event of a financial meltdown.
However, everyone knows that it is virtually impossible to get the consumers to stop spending, no matter how dire the situation is.
Must be very frustrating for the gold bugs.
Its been very, very frustrating Robo, ever since $500 and $15...LOL!
Just floors me, and actually the word is much uglier than just "floors" me...absolutely pisses me off,
But anyway... how ANYone not blind, with any knowledge of how markets should normally and do normally...
(when was the last time I ask myself)...
trade, and with any integrity?
How can you LOOK at the gold/silver trading on COMEX and NOT see flat out blatant computerized trading?
JPM simply smacking down ANY kind of rise at ANY time it wants.
HOW THE FUCK CAN THE CFTC NOT SEE THAT THIS MARKET IS COMPLETELY RIGGED!!!?????
Even Chilton says in his emails that it's not illegal for them to put in a big short and then cover it.
WHAT!!!!!???
They're not "putting in" anything...it's all computer programmed trading.
Watch those things...wham wham wham wham wham!!!...in seconds $6-7 off gold price...15-20 cents off silver!!!!
Markets don't act like that!!!...esp commodities markets...w/o some MAJOR news that EVERYone involved would know about. Disgusting!!!
So unbelievably blatant!!!!! What the hell are they ever watching?? Do they even bother??
And now gold and silver, once up >$10 and >$.50 are on the verge of going red on the day!!!...with NOTHING that should be doing it...only b/c JPM has been given the right to do whatever the fuck it wants to do.
How does the CFTC show its faces in public?? What the hell do they get paid to do??
This is a farce...an evil comedy...this is not a market.
HOW many "brilliant" technicians try to explain it's all just the TA and market forces and this and that support and resistance and Fibonacci level or WHATEVER...doesn't matter...when they want to blow thru them, creating new lines, they do it.
No one or nothing to stop them on paper / electronically.
Only the physical market stands between them, and complete destruction of the commodites markets (prices), anytime they'd choose.
Probably the equities markets as well. They can short those thing naked...then flay the skin off the companies...and our other toothless tiger...well-fed(paid) fat and sassy...the SEC will NEVER do anything about it.
It's time for them to be either taken down by the CFTC or the CFTC to be outed as a criminal organization that has aided and abetted illegal market action.
Same with the SEC. Public trials and humiliation. Hangings would be in order.
Ok...end of rant...temporarily... so fucking open and disgusting!
via LeMet
Oh life isn't fair and neither is the market, what a revelation!
Need more unaccountable beaurocrats and alphabet agencies,
that should do the trick.
Need to get back to 100% reserves and just let capital sit on a shelf somewhere, isn't that the wannabee intellectual solution? That wouldn't inhibit access to capital for the peasants at all.
If not just tax the rich and when that money is gone in two months wait on trickle up ecomics to work like most of broke as hell Europe is doing.
BTW did I miss something or did shit hit fan and herd trample into US treasuries again? World going to be paying the nation $14trillion in the hole with no end in sight to hold their money yet again? Doesn't that say it all about the financial stability of rest of the globe or am I missing something?
Hey,...Doesn't USA Gov have all that Gold( cough, cough ) in the Fort that it can spend....
Ha ahhhaaa hahaaaaaa....too funny.
And while gas is about to hit $5 USD per gallon, there are still places on earth where its still selling at -hold on to your panties- 12 CENTS A GALLON!
Only in Vuvuzela land!
http://www.marketwatch.com/story/low-gas-prices-plague-venezuela-2011-03-16
We just need Captain Larry T. Bridgewater.
Here comes TBTF Round 3 Per Reuters:
"Democratic Senator Jack Reed said the banks are facing a massive legal threat unless a comprehensive deal is reached. He cited the potential for numerous suits from state AGs, repurchase demands from bondholders who invested in billions of dollars in mortgage-backed securities, and lawsuits from individual homeowners."
No poop Sherlock! Massive is the right word and if the Goobermint denies investors and homeowners their legal due process, it's going to be an even more massive problem. I've never seen Geithner squirm like he has been recently over this issue. Read his ridiculous and almost shrill comments here:
http://www.reuters.com/article/2011/03/15/us-financial-regulation-mortgages-idUSTRE72A63J20110315
Dang.
anyone worrying about a "constitutional" debt limit has spent too much time at reactor 4.....not only is the constitution nothing but a "goddamned piece of paper" as george bush declared but a nation harboring an indonesian citizen as its president isn't going to give two flying fucks about how much debt this country has....
congress will dutifully increase the debt limit when ordered to do so....the same ink feeding the fed's printing press will more than sufficiently supply the rubber stamp of approval for more debt to solve our debt problems....
www.obamacrimes.com
I remember a time when a $150 Billion annual deficit was thought as significant...
I just now shake my head.
Tyler, how about some thoughts regarding what the impact will be when the US loses its AAA rating... what should we expect in practical terms?
I seem to recall Tyler saying some time back that the Treasury would inject $25B every Thurs from SFP until only $5B remains.
Is tomorrow one of these $25B SFP "injections"?
as far as I understand, only congress can raise the debt limit? lets assume they do. but what happens if they didn't...what happens to bonds? the dollar?
I filed my income tax return tonight. Got a refund coming.
So the burn rate will be speeding up as soon as that crosses Timmah's desk.
On the road to serfdom, er, recovery...
Safety Net For Jobless Rolls Up After 99 Weeks | Chris Martenson’s Daily Digest 3/16
Nationally, the ranks of those out of work 99 weeks or longer have swollen to nearly 1.8 million from 935,000 a year ago and 271,000 in 2008, according to the U.S. Department of Labor. As a portion of the total unemployed population, those unemployed 99 weeks or longer have grown from about 3 percent before the economic downturn to 12.2 percent during February.
The previous annual high was 5.6 percent in 1984, indicating that the recent recession created an unprecedented group of chronically unemployed.
http://www.chrismartenson.com/blog/daily-digest-316/54573
These "financial services groups" a.k.a. fraudsters have financed the repeal of the regulations safeguarding public and taxpayers. They said they were going to "supervise themselves" and then melted down the economy, collected bonuses and now are hard at obstructing justice. Our very government is complicit, it is evident in the way SEC and Justice Department are p us sy-footing around the fat cats. The very fabric of our governance has been destroyed and more, bigger financial disasters await in the wings, unless we see to it that the justice is served. "I hope we shall crush in its birth the aristocracy of our moneyed corporations which dare already to challenge our government to a trial by strength, and bid defiance to the laws of our country." - Thomas Jefferson once said. How fitting, how prophetic! How alarming that we failed to accomplish that! At http://www.WallStreetClassAction.com we organize a class action against the banks, the ratings agencies and other financial institutions involved in staging the colossal securitization fraud and subsequently crashing the economy and resulting in over $5 Trillion in asset losses in the US alone. We realize that our own government is effectively a captured entity, so no criminal indictments will be forthcoming. But WE THE PEOPLE will hold the fraudsters accountable. United we stand.
Dont worry theres more where that came from
http://theintrinsicvalue.com