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As Treasury Cash Drops To Just $14.2 Billion, And No Bond Auctions Until Next Week, Is America About To Run Out Of Cash?
And so the US Treasury has hit the proverbial paycheck to paycheck sustenance level. After burning $12.8 billion (without a change in gross debt) in cash today alone, and $75 billion in the month of March so far, primarily driven by a back end-loaded tax refund calendar, according to the Daily Treasury Statement, today's cash balance dropped to the scary level of just $14.2 billion. Without the benefit of incremental funding, this is the same amount that the Treasury burns on a good day! In other words, we take back what we said about the US Treasury existing paycheck to paycheck - Geithner now has to scramble to find funding on a day to day basis. If tomorrow operating outflows surpass $14.2 billion (and, again, the amount was $12.8 billion today) the world's "greatest" country (i.e. banana republic) runs out of cash, period. And as the following schedule indicates, there are no Long-Term bond issuances until next week (and the Bill issues are merely funding of rolling issues), we have some trouble seeing how the US Treasury will fund itself for the balance of the week...
And the forward issuance calendar: remember, this is where the bulk of money for deficit funding comes from there days.
On the other side of the ledger, total debt was $14.164 trillion, with $50 billion left in the liquidating SFP account. That means there are just two more 56-Day CMB maturities left before the credit ceiling gimmick expires. Once that happens, and in the absence of any clarity on the debt ceiling debacle, America may soon grind to a halt as the incremental debt capacity is hit in just over a month.
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Bank holiday in 3...2...1...
Which Black Swan will bring down the charade?
I'm going with...
**helicopters tomorrow morning, slung with cement buckets, as Japanese "officials" finally admit they are having a bit of a problem with some power plants. Tokyo citizens, on the fence about panicking, commence panicking**
Black helicopters, perhaps?
Hard to say what will happen. But I can guess whatever is irresponsible will be the path chosen.
God Bless Octavia.
Got Ammo?
Got Silver to trade with?
Got Medicine?
Got Food?
Got a Good Firm Grip on Reality Yet?
They better do it soon. The Tokyo weather update says winds 16 knots from the NE.
Out of topic... But Martin ARmstrong has been relesed from Prison.
Its official:
http://www.martinarmstrong.org/files/release%2003-08-2011.pdf
Great news, thanks for the post.
incredible.
But Goldman said so... and then the U.S. had to arrest him!! Becuase Cohen said so.. why would "The Squid" Lie?
To quote a Great Man!! "CD" Liar, Liar.. Pants on Fire!
so, how long until the politicians starve?
http://covert2.wordpress.com
When there are no more us children to eat
Sounds like we need a false flag event. You know, never let a good crisis go to waste. One of those kind....
Yeah, but maybe the federal government could borrow a little from the 50 Sta.....
The End of Sound Money and the Triumph of Crony Capitalism
http://mises.org/daily/5113/The-End-of-Sound-Money-and-the-Triumph-of-Crony-Capitalism
Read Chris Whalen http://us1.institutionalriskanalytics.com/pub/iramain.asp
on Mon, 03/14/2011 - 21:18
#1052979
Read Chris Whalen http://us1.institutionalriskanalytics.com/pub/iramain.asp
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When they named the two (2) reasons to short the market as.. the Rapture and / or The Moon Hitting the Earth.. they left out the FED going broke..
Good read, JW approved!
Obama says "what do mean I am out of money?... I still have checks!"
There is still enough gold in the vaults to sell and sack the us citizens a bit more.
And when that money runs out, they can sell land to the banks once they move out the "natives"
and when also that money runs out they can still make a run for it
That happened in '33 and all we got were casinos.
Two problems:
1) Thanks to the price supression scheme they're not worth enough
2) They're all salted bars
Now that is funny.
When the checking account balance falls below the minimum they hit you with those damn per-check fees.
Time to pawn the White House silverware
The WH silver is long gone. Hu Jintao picked it up when he was here the other month.
The flatware is now made of depleted uranium. It stays warm, dontcha know.
And self-disinfecting, so they could fire the dishwashers!
NEWS HEADLINE: US Government commences the construction of large shipping vessles for live [white] human slave exports to China. The US Treasury expects to generate enough money to keep Congress in a lifestyle they have previously become accustom to. The first vessle under construction is 'The Bernank', Captain Blythe is reported to have said, "We've already nicknamed The Bernank to 'The Mudguard', because like the real Bernank, it has a shinny top, with shit underneath". US Government official say this is the first ever 100% environmentally friendly ocean-going craft, stating that because it is human powered, it runs on bady fat rather than valuable Fossil Fuels.
"Use a gun - go to China"
I'm trying to start a grass roots movement to ship our violent prisoners off to China...the Chinese would pay us for their labor...we would save on prison costs...and there would be some real incentive for these punks to stay out of jail....
In China these guys work 10 hours factory shifts, they don't get paid, or get to sit around & watch TV or lift weights.
The prison system in the United States is a multi-billion dollar industry heavily controlled by politicians and their wealthy "business partners" etc. Your idea would make too much fucking sense to ever happen, not to mention all the political kickbacks that would no longer exist.
I really starting hate this fuckin country, same shitty story everwhere you look. When this SOB comes crashing down, I hope they string up every last criminal politician and bankster and have one hell of a BBQ.
http://www.google.com/#sclient=psy&hl=en&q=federal%20prison%20commissary%20bush%20family%20owned%20keefe&aq=&aqi=&aql=&oq=&pbx=1&bav=on.2,or.r_gc.r_pw.&fp=e68d8902d5bd6cb1&pf=p&pdl=500
with shit underneath
S.H.I.T. stands for Ship high in transport.
Suites me just fine - let the money run out so we can bring our boys home and stop paying blood money for oil and empire
That must be a really bad joke or attempt at humor. If they have no money, the troops will be left to fend for themselves in those foreign lands.
No money-no return flight-get it?
You mean a currency crisis? That Ron Paul crank is a kook. /sarc
It is not a bad joke, it is a call for peace. Lew Rockwell, founder of the Ludwig von Mises Institute, has many articles explaining how the central banks print fiat money to pay for world wars that would otherwise be impossible to finance if the people had to be taxed directly. There would be no money for their "wars," no lives spent. Abolish the Fed.
Smedley Butler knew how to prevent all wars: draft everyone i.e. limit everyone's salary to that of the soldier fighting in the battlefield.
So he thinks that bankers and politicians are worth as much as soldiers?
Read "War is a Racket".
Ever heard of "all men are equal"?
You think the so called industrial military complex would start a war if it was impossible for anyone to earn more than a grunt?
There would be no money for alot of other things too, like welfare, medicare, medicaid, social security etc.
The entire defense and war budget isn't even half of the deficit.
+ 10
Anabasis Bitches!
canabisis
I second and third that...
The Greek mercenaries, known as the Ten Thousand, found themselves without leadership far from the sea, deep in hostile territory near the heart of Mesopotamia. They elected new leaders, including Xenophon himself, and fought their way north through hostile Persians and Medes to Trapezus on the coast of the Black Sea. They then made their way westward back to Greece.
Xenophon's book Anabasis ("The Expedition" or "The March Up Country") is his record of the entire expedition against the Persians and the journey home.
Thalassa , thalassa , thalassa !
Warriors. Come out to play.
who is junking all the good comments ?
Read "The Last Centurion" by John Ringo. It has that very theme of troops abandoned in place.
Pretty good odds the gov would get the troops home - but the private contractors - that's a different story. I wouldn't be surprised if a lot of them get left in place. Liability disclaimers are probably written into their contracts, in the fine print: "In the unlikely event of circumstances beyond our control, the employer is not and shall not be held liable for the breakdown of transportation systems and the resulting consequences."
"but the private contractors - that's a different story."
As it just so happens, I hear that there may be some openings in Libya right now. Don't know about the pay/benefits package though.
I would go for free.. bring my own guns... and fucking have a field day!
Go for it!
bagbalm, never thought I see a recommendation for John Ringo on ZH.
enjoy his "Ghost" series...the Kildar was ahead of his time with that one. now many on ZH talk about leaving the USA and being expats.
Exactly. Treasury is already a smoking pile of ruin anyway. Might as well let the operation reflect the actual condition of the entity.
And Tyler...thanks for following up on all this wonky and arcane stuff that the Ministry of Truth just cannot ever seem to fit into its broadcast day. ZH'rs are well ahead of the game for your efforts.
What an f'n mess! Here we are....all the way up the banana republic tree that Ben Bernanke planted.
Pay Day Loans, bitchezzzz!!!
Is this actual or just hyperbole?
This is very, very actual.
LOL. Guess it's not real for some if CNBC or Paul Kedrosky don't report it.
In a world of made up currency and acocunting gimmickery, this is a non-event. /sarc?
Agree, makes no difference. Smoke and mirrors and whatever else will take care of this tiny "issue".
Back to sleep everyone. Unless you are heading out to buy some gold or pull some money out of the bank, then carry on.
Moynihan, Dimon, Blankfein, Pandit and the rest of the Vampire Squids will porvide a backdoor loan for future 'consideration'...
Exactly. Nevertheless, this debt-driven machine is not a perpetuum mobile.
Actually it is.
The IMF can bail us out easily.
So, break it down in layman's terms for me.
What's the trade?
Trade FRN's for money.
Trade flip flops for running shoes
I just ordered some new reef's... I hope they make it here before the shit starts!
"So, break it down in layman's terms for me.
What's the trade?"
Sell the precious.
Sell all equities.
Go all cash
We are running out of it, it is a scarce commodity.
Cash is King.
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you are welcome
@Muir
I believe this as well.
Me too. Me too. These Federal Reserve notes have never looked so good! Wait, now that is better! I drew a squiggly mustache on Hamilton and now he looks like an even bigger douchebag!
I often write "END THE FED"on my counterfeit notes! Take heed, I would never deface real money as that would be illegal ;)
Thanks for all the good advice. I got a little silver, I got a little gold, I got a little fiat trash to keep me from the gallows pole.
But but but we have been making forr months now what happened.
Tyler, any chance of posting a time line over the past 10yrs with the major financial news events, and gold and silver prices?
And two corndogs all the way for me please thankssssssssssss.
Can I get a large fry..
and..
a caramel macchiato with 20 pumps of vanilla, a 1/2 inch of carmel on the bottom, sub the skim milk for "breve / half and half" and upside down.. thanks, keep the change champ!
How much do they normally have on hand with the Fed? (90 day avg or something)
...so what do we do? Withdraw money from our accounts or race across the desert killing raiders for gasoline?
$65B in 3, 10, 30 yr note auctions settle on Tuesday...plenty of money for a week or so...
Tyler, Awsome but scary. This might be a stupid question but why are you taking the balance
off the fed acct rather than the total operating number.
"Is this actual or just hyperbole?"
You new to ZH?
I am not new actually. I just like to sift the real stories from ones that involve the sky falling.
"I just like to sift the real stories from ones that involve the sky falling."
"'Real' stories"? You *must* be new to ZH.
the sky IS falling...
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... and it's radioactive too....
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+2
on Mon, 03/14/2011 - 17:49
#1052222
I am not new actually. I just like to sift the real stories from ones that involve the sky falling.
*****************************************************************
The sky has been falling for a good, long while now.
Just go shopping fill up those malls.. G.W. Bush
anyone get their tax checks yet ???....sent ours in a month ago and should have received by now , per website.....we could be broke already !
You still let them withhold from you? LMAO.
I play the same game the Treas plays. Extend and pretend. I generally owe these thugs money every year, I have 12 dependent on my withholding, and pay them a comensurate $50 a month. Right before April 15 I pay off the balance and roll the dice again. Plus, I ain't breaking no rules in the process. Just paying off yesterday with depreciated dollars today. Fuck the FED, fuck the IRS, and Fuck the Treas!
If gov accounting is anything like big bank, rest assured the IRS lists your future obligation as a promise to payon the ledger, multiplies it by the % of population doing the same thing, lists these IOUs as assests on the balance sheet, and uses it as collateral for selling debt. One could argue you are not effecting them, but I would say the longer you can keep your fingers on your own money, the better. Salute.
I agree I am not damaging them in any shape or form, but it is sure nice to arbitrage the kept money in PM's during the game.
I think this process will become more and more prevalent... why the hell do they get to (mis)use my money in the meantime? If they only use my money against me, what incentive do I have to give it to them early? Makes no sense.
Pretty slick Dr. Head, kudos.
You're a man after my own heart Dr.:) Reiterate the good Dr.s post, "FUCK THE FED, FUCK THE IRS, FUCK THE TREASURY, AND JUST WHOLESALE FUCK THE GOVERNMENT" !!!
I always used this strategy too back when I used to have some decent income. Lots of folks told me not to do it because of the underpayment penalty, but the underpayment penalty was always way under the depreciated value of the cash. I tried to tell people it wasn't really in their best interest to be giving the Feds an interest-free loan every year, but the most common reply was mind-bogglingly stupid.
"I like to get a big refund so I can pay off my bills."
+++++++++++++++++++++++++++++++++++++++++++++++
i sent mine out last week, dont hold your breath, we are not getting anything before the crash.
I was going to use that money to buy more silver
E-Filed a bit before 2/15 and received direct deposit on/around 2/24. Paper filing takes longer as does cutting a physical check. Hell, I even received from my state and city (which I know is broke).
Honestly - the gloom/doom/conspiracy is a bit over the top. I'm a firm believer in some of it and maybe the most skeptical person I know, but sometimes this site and many posters need to take a step back.
Seriously...to each their own. On the other hand, is there any way to believe the .gov borrowing 50% of all spending is sustainable? Is austerity sustainable? No to both, IMHO. There is NO logical conclusion to this mess then a currency default of some sort. We've defaulted twice already in the past 100 years.
In addition, the very nature of our debt-based money demonstrates the fraudulent nature of our government. Any government for the people, by the people would have a debt-free, interest-free currency (see Lincoln Greenback).
And I'm actually more at peace now, since my preparations are well on their way and the Matrix has revealed itself...Things actually make more sense...
Honestly, your normalcy bias is over the top.
And you have inspired me to go on a rant that will surely be called "tin-foil XXXL".
Here's what's happening in the world right now folks:
Going back to the early days of the Obama administration, a quantum leap in awareness of the Zionist New World Order conpspiracy as fact occurred among military leaders and leading politicians around the world. At least two "Republic"-based American Revolutions were attempted in the United States, with some high-ranking military officers supporting them. These revolutions are still ongoing, but general awareness of them in the peasant population (and thus credibility with the population) has been crippled by the NWO's control of all mainstream media. Ted Turner's Christian-based Revolution was crippled by the fact that Christianity itself is a pawn in the hands of the Zionist NWO.
Internal American resistance to the NWO threat had some minor victories, including the removal of Zionist Rahm Emanuel from the White House. Of course this victory amounted to very little, as Mola Rahm brazenly waltzed into the job of Chief Executive of Chicago, fully supported by the Zionist MSM and corrupt Chicago political machine, and a JPM NWO enthusiast replaced Emanuel in the White House. NWO strategy has always been to secure two steps forward for each unexpected one step back.
There have been threats to NWO conspiracy from sources external to the United States, such as Japanese and Chinese patriots and freedom-minded humans. But, sadly, just as the NWO has always done, it has assiduously and effectively been working to corrupt "Uncle Tom" Asian leaders into aiding the NWO conspiracy in those countries, and kill, discredit, or marginalize men who refuse to serve them.
What is happening right now is destruction of the sources of energy and food vital to the world economy that supports the very lives of the world's 7 billion people. HAARP, Machiavellian political machinations, and of course divide-and-conquer manipulations of the peasant population are just some of the maneuvers. The point is to cause widespread chaos and death, on scales yet unseen in history. The video of explosions at Japanese a nuclear reactor looks at this preliminary point to me as if it was bombed to guarantee the loss of Japanese energy independence (HAARP was the primary weapon used against the nuke plants, but the bombs were triggered to seal the deal). (One of the NWO's sine qua non spheres of influence is its hegemonic dominance of energy via oil and the suppression of free energy technologies.)
So Russia is playing ball with the NWO (see this), a defiant Japan is being brought to its knees, and the Chinese oligarchy is -- probably -- about to sell its own population down the toilet as it will allow mass starvation and plagues to kill its own people. The NWO is going for broke and you can see it happening if you just put your Hofmann lenses on.
The NWO fully intends to weather the chaos, coming out after a year, two years, ten years or however long it takes until the people of the world, desperate for peace and the "good life" that only the NWO can provide, call out for fascist world government and police state control in all major future population centers, all bankrolled by world financial institutions. You don't want to play ball with them? Then you don't get money.
Order out of chaos. Bitches.
-
Mr Mulder:
"And you have inspired me to go on a rant that will surely be called 'tin-foil XXXL'."
______
BINGO!!!!
we have a winner!
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Bravo GFM
Some see better and further
Ordo ab chao is spot-on GFM, spot freakin' on. I don't think the reactors were bombed though - they didn't need to be. GE designed those things. Placed the backup diesel generators at ground level by the ocean without snorkels. Doh!
Somebody ought to carve a swastika on your bald, fat, JPMorgan/Rockefeller/Rotschild lackey head.
That old trick of deflecting the blame onto others won't work this time.
The Namibian people who were massacred at the beginning of the 20th century were also responsible for German hyperinflation?
The partitioning of Africa by European colonialist powers was also the result of "zionist NWO"?
No you imbecile eunuch. The blame lies elsewhere.
You are even worse than other trolls. The other ones obey orders from their JPM/Rockefeller/Rotschild masters.
But for you, it is not enough to obey them. YOU LOVE THEM.
I gotta say that I have no fucking clue what you're talking about.
About the only thing I understand in what you said is that Africa was partitioned. I'd say that was probably done so that Africa would forever be subjugated to business interests. And that Zionist NWO motherfuckers pride themselves on always being able to rise above businessmen. See my long post over on the other thread for what "Zionist" is a code-word for:
http://www.zerohedge.com/article/number-2-reactor-explodes-damaging-core-containment-structure
And I have no ill will to you, because you are just so wrong about me that I can't even get mad.
Is your avatar a pic of Jim Morrison?
One thing I've found in life, at the end of the day those difficult answers tend to be rather plain and found right in front of us, and this includes some "big doozy secrets". The main issue was in recognizing it - sometimes inability or unwillingness to recognize it. Super complicated theories and convoluted conspiracy haven't seemed to play out, at least in my own experience.
Continues to amaze me that the word "taxes" has been exorcised from common discussion. Borrowing is not sustainable, and austerity (i.e. cutting our way to a surplus) is not politically possible. There is that other part of the equation though, which is asking the American people to pay the damn bills we have run up. It's not impossible that the "logical conclusion" involves facing reality and not running off the cliff first. I'm not holding my breath...but it is possible.
I would say that taxes is not a realistic approach, simply becuase those who pay the taxes are not the ones receiving the corresponding "benefit." So there will necessarily be sustained resistance to higher taxes, and rightfully so.
If you were receiving free meals at someone elses expense because tax money paid for them, and you didn't actually pay any taxes, then yes you might be for increased taxes. I however, work a 20 hour day running my own business, and then watch it get forcefully taken from me and handed to bankers, politicians, and benefits for those who don't work.
Higher taxes not an option in my book.
Taxes excised because 100% income taxes will not balance the budget, hello
a 28 basis point transaction tax will
CNBC campaigning hard on yahoo finance to get sheeple to bite into the markets but they aint taking the bait. Every headline there is a bite me headline. Looks like banks are finding themselves the big bagholders now ?
Always were
Why they rely on owned government to collect the swag and vig
Filed with Turbo Tax for free on a Wed. and was wired Fri. to my bank.
Got mine last week. Cleared just in time.
I paid the treasury $150,000 this year. Havent got a check back in years.
took about 2 weeks longer than turbotax said it would...
mine was 5 days quicker... shot it off 2 days before the FED took them on 14th
Hah! Yes - mine posted just last night! Heading in to the bank to liberate the entire amount and redeem it for real money at Apmex or a similar real-money dispensing facility.
I know - go ahead and preach about how stupid I was to "loan" the government my money on an interest free basis. I hear that crap all the time at work; from debt-drones that are not TOTALLY debt free like I am. They go on about how that extra money each paycheck can be invested, yadda yadda. What really happens is that money goes up in smoke for discretionary purchases. I use Uncle Sugar as an aggregator. Since the banks pay only a fraction of interest that they used to, I like to see the outflows from the U.S. Treasury coffers every year during refund season - and after one or two or three "aggregations", you can pay cash for a new truck, or a good aluminum stock trailer, or even do like I did; PAY CASH FOR MORE LAND!
I think this is the Gubment rubbing elbows with Joe Six pack..how close to bankruptcy can we get and still feed the kids and fuel up the Tahoe?
...and vacation in Tahoe...
http://bit.ly/f1K8hO
Prostitution
Brickwalls, bitchez?
Just in time for steak and B.J. day!!
isn't every day bj day? According to charlie Sheen it is.
Turbo Tax Timmah for the biwinning!! The treasury runs on tiger blood!
A BJ a day and yer man won't stray. bitchez
Timmy is going to get pretty sore - 12+ Billion a day is a lot of work! (And that doesn't take into account Upgradde Bernake's cut.)
Will pomos be cut for awhile
AP reporting the additional 20,000 IRS new-hires are now going door-to-door confiscating any and all MONOPOLY games out there. I'm burying mine now.
source?
Dude, it was on yahoo front page news.
I was born after 1980. If its not on google news then it didnt happen. Only baby-boomers use yahoo.
Digital native bitch3z!
Why they'll do what the rest of America does, get a payday loan.
Cash Management Bills, FTW!
Time to get a payday loan from GS at 15% intrest rate.
Gold confiscation time, the gubermint needs you wealth as a matter of national security and all that jazz.
Gold? Silver? Whatever do you mean officer, nothing but us heavily armed citizen/farmers over here.
Bring it. I am prepared. The sooner we let the system crash, the sooner compensation will find its way to people that are actually worth a shit.
Gold? Silver? Whatever do you mean officer, nothing but us heavily armed citizen/farmers over here.
Drunk and armed. You loot, we shoot!
+ 9 mm!
Would IRS door-knockers be targeted as looters?
They would be at my door!
he was a stranger.. I was in fear for my life.. I defended myself, sorry didnt see the badge.. my bad??
"sorry didnt see the badge"
He made a sudden, furtive move to retrieve something from his pocket, I saw something shiny and menacing in his hand. I thought it was a nickel-plated revolver. Why did I fire 16 rounds officer? Because my magazine only holds fifteen rounds sir (one in the chamber for those suggesting math error).
Laws,
Exactly which people are "worth a shit" for purposes of more compensation?
Are we talking teachers, farmers, garbagemen, barbers, engineers, or what?
I'm pretty sure if the system "crashes", most of the "compensation" will flow to the most organized thugs with the biggest weapons, as opposed to the most organized thugs with the biggest lobbyists. I'm not sure that's an exciting trade one way or the other. Certainly little margin of safety.
"Exactly which people are "worth a shit" for purposes of more compensation?"
If law and order is in place, the market can determine that, and will get it right every time.
the people worth a shit are those who others are willing to pay for their services or pay for products they produce.
Wall Street bankers, lawyers, politicians and welfare queens aren't worth a shit.
QE 2 says they are worth... $440,781,045,961.00
Where I come from, thats a LOT! of shit...
I would ask the question "Can things get any worse?" but everytime someone asks the question it get's worse.
I'm getting shit faced tonight. I have bad news burn
Last time I asked "Can it get any worse?" my car caught on fire. Shut me up on that thought for good.