As Treasury Cash Drops To Just $14.2 Billion, And No Bond Auctions Until Next Week, Is America About To Run Out Of Cash?

Tyler Durden's picture

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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traderjoe's picture

Bank holiday in 3...2...1...

Which Black Swan will bring down the charade? 

Cdad's picture

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**

Deathtöngue's picture

Black helicopters, perhaps?

Roger O. Thornhill's picture

Hard to say what will happen. But I can guess whatever is irresponsible will be the path chosen.

God Bless Octavia.

JW n FL's picture

Got Ammo?


Got Silver to trade with?


Got Medicine?


Got Food?


Got a Good Firm Grip on Reality Yet?

Quinvarius's picture

They better do it soon.  The Tokyo weather update says winds 16 knots from the NE.

boricuadigm-shift's picture

Out of topic... But Martin ARmstrong has been relesed from Prison.

Its official:


1fortheroad's picture

Great news, thanks for the post.

JW n FL's picture

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! 

covert's picture

so, how long until the politicians starve?


Sudden Debt's picture

When there are no more us children to eat

Tom Servo's picture

Sounds like we need a false flag event.  You know, never let a good crisis go to waste.  One of those kind....


potatomafia's picture

Yeah, but maybe the federal government could borrow a little from the 50 Sta.....

JW n FL's picture
by SwingForce
on Mon, 03/14/2011 - 21:18

Read Chris Whalen


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!

centerline's picture

Obama says "what do mean I am out of money?... I still have checks!"

Sudden Debt's picture

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

Mr Lennon Hendrix's picture

That happened in '33 and all we got were casinos.

SilverBaron's picture

Two problems:

1) Thanks to the price supression scheme they're not worth enough

2) They're all salted bars

TeamAmerica's picture

When the checking account balance falls below the minimum they hit you with those damn per-check fees.  

Ray1968's picture

Time to pawn the White House silverware

The Disappointed's picture

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.

ageofreason's picture

And self-disinfecting, so they could fire the dishwashers!

TwoShortPlanks's picture

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.

chinaguy's picture

"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.

dow2000's picture

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.

system failure's picture

with shit underneath


S.H.I.T. stands for Ship high in transport.

Josh Randall's picture

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

detersbb's picture

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?

Dr. Richard Head's picture

You mean a currency crisis?  That Ron Paul crank is a kook.  /sarc

JR's picture

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.

Debtman And Robbin's picture

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.

SilverBaron's picture

So he thinks that bankers and politicians are worth as much as soldiers?

Debtman And Robbin's picture

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?

sun tzu's picture

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.

TWORIVER's picture

I second and third that...

SME MOFO's picture

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.

Gigliola Cinquetti's picture

Thalassa , thalassa , thalassa !

Womb Service's picture

Warriors. Come out to play.

Abitdodgie's picture

who is junking all the good comments ?

Bagbalm's picture

Read "The Last Centurion" by John Ringo. It has that very theme of troops abandoned in place.

rlouis's picture

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."

Iam_Silverman's picture

"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.

JW n FL's picture

I would go for free.. bring my own guns... and fucking have a field day!