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Why Is The US Treasury Suddenly Concerned About "Loss Of Market Access"
Earlier we revealed that one of the key topics of discussion during yesterday's quarterly meeting of the TBAC committee with government workers (including Under Secretary for Domestic Finance Mary Miller, Assistant Secretary for Financial Markets Matthew S. Rutherford, Deputy Assistant Secretary for Federal Finance James G. Clark, and Director of the Office of Debt Management Fred Pietrangeli, and two NY Fed staffers, Nathaniel Wuerffel and Lorie Logan) was whether or not markets had become far too complacent, there was another, even more important topic of discussion than simply the beaten dead horse which is the fate of manipulated stock markets. The topic: the US Treasury suddenly losing access to capital markets.
This is how the Treasury framed the discussion:
Pursuant to the Committee’s request at the April meeting that Treasury present a cash balance management framework that mitigates certain risks, DAS Clark began his presentation by reviewing Treasury’s current cash balance objectives. He explained that Treasury’s main sources of cash are susceptible to risk, noting that Treasury has historically focused on risks associated with errors in fiscal forecasting. Clark stated that several events had made it clear that market access and settlement risks could also potentially impair Treasury’s ability to fund government expenditures for several business days.
A detailed discussion ensued amongst Committee members around the benefits and potential concerns related to holding a higher cash balance in order to mitigate the consequence of losing market access. The Committee concluded that it would be cost effective and prudent for Treasury to hold a higher cash balance. They suggested that Treasury should continue to analyze the details of maintaining a higher cash balance and present its findings at an upcoming TBAC meeting.
In other words back in April, the US Treasury for reasons unknown, tasked the TBAC to consider levels of cash funding needs for the US treasury as a result of "certain risks."
Specifically as a result of "several events" among them the December 2, 2013 delay of a 4 week bill auction due to IT issues, Super Storm Sandy in October 2012, and September 11, 2001, the Treasury has suddenly - five years into the recovery - gotten concerned that its ability to fund government expenditures for "several business days" could be "impaired."
As examples of market disruption, the Treasury mentions two: Hurricane Sandy: 1.5 days and September 11th: 2-3 days.
The TBAC then responds that the "Cash required to cover the worst 1-5 days since FY2009 is relatively constant at approximately $331 billion."
Here is what the TBAC finds: "Historically, Treasury has only had enough cash to withstand a loss of market access for approximately 2 days."
Further:
- Treasury would have been protected against losing market access for 1 day roughly 80 percent of the time.
- Treasury would have been protected against losing market access for 5 days less than 10 percent of the time.
But it is the TBAC's punchline that is most important:
If Treasury lost market access for a short period of time, the U.S. government would face a substantial cash shortfall.
- Since the beginning of the financial crisis, on average, Treasury would have faced an $28 billion cash shortfall if market access had been lost for 3 days.
- This shortfall increases to $89 billion if market access had been lost for 5 days and $239 billion if market access had been lost for 10 days.
* * *
Summarizing the story so far: after years of never even once contemplating how much cash the US Treasury has on eht books, suddenly, 5 years into the "recovery" the Treasury is suddenly very concerned about the level of statutory cash. Why? Fears over loss of "market access" such as those during a "glitchy" 4 week bill auction in December 2003 (implication: malicious hackers) or September 11 (implication: domestic terrorism accident).
And what is probably most disturbing is the TBAC's ultimate answer to the TSY's question whether it should hold more cash:
The Committee concluded that it would be cost effective and prudent for Treasury to hold a higher cash balance.
Just in case, surely. Still, one wonders, do they know something we don't, and just what was unreported during the "framework discussion" phase, and just how long until the Treasury tests out its increased cash retention strategy, and most importantly: just what upcoming event could to the Treasury "losing market access"?
* * *
Full TBAC presentation (pdf)
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Translation:
What I've been saying here for months that the Federal Reserve knows it is fucked now cause the U.S. dollar is losing global currency status because the world wants to starve the U.S. military beast.
Beats me. But thinking they are trying to addres a concern without mentioning the concern directly. Instead they use excuses like Hurricane Sandy. After all they can't put e truth out there.
Every addict is concerned about how and when they can get their next fix. The US is totally reliant on, and addicted to, other nations accepting its toilet paper / MIC duo. What a shitty spot to be in, if you're in the Treasury.
absolutely correct. Its the whole enchilada for the ponzi......its over soon
Attention passengers - please return to your seats and fasten your seatbelts...
We are slowly moving towards a dislocation event of some sort, that much is clear. And once the tipping point is reached it will either be utter chaos or it will be like time stopped (as they suspend FED operations, temporarily of course).
Maybe both.
sung to "here comes santa claus"
Banking holiday, banking holiday
When the markets be closed
You can't sell bonds or bills or notes
To get the cash you owes
Release the Ebola.
PAYDAY LOANS AT ZIRP RATES......WHORES!
With Satoshi never lose funds! Do you get me simple fucks?
Get to work, chairsatan!
.....rohkaay.
Translation into English.
No one wants the Treasury's stinking bonds at anything close to the Fed's stinking rates.
Stinking Fed, meet Mr. Market.
Like an old general, reserve currencies don't crash...they just fade away
Listen Fonestar... Just because you created a new account with a new name doesn't mean that people are going to listen to you.
fonestar's PAL was forced to create a new account because fonestar was B.A.N.D.
fonestar was banned because he always referred to himself in the 3rd person...
gh0atrider is always three peoples too. The Cryptofather. The Bitson and the holy Genesis Block.
Fonestar -
BITCOIN IS NOW A TAXABLE ASSET - IRS Says Bitcoins are Property and Not Currencyhttps://www.youtube.com/watch?v=j9iVh2eUTKk
What if government tells you the sky is a gh0at? And that you look at it all bad, wrongly? So do you submit and unquestionably stumble towards consensus?
I've gone on to Scarboro, oak seed millet rash. stick to the code.
That's exactly right. If a cool 200 million of us mouth-breathing, cousin-marrying, knuckle-dragging troglodytes living in fly-over country would just die, the Treasury wouldn't have any cash shortages.
Well, you would still have to pay tax when you are dead, but we get the idea.
pods
Calling LTER, tell us again why we pay taxes when we are dead??
gh0atrider cousin live in fly-over county. All count good! Phvck you physman!
Hey Boson, those Tbills you put up for collateral last month matured 3 weeks ago. How about a little something, ya know, for the effort?
maybe they should stack up on some phyzz Ag and Au?
naaaaaaaaaaaaahhhhhhhhhh.....PM's are just barberous relics. ;-)
good one.
If I had a Krugerand for every time I've heard that on Zero hedge, I'd be able to give Deutschland it's gold back.
The global system relies on the U.S. expanding its money supply at an exponential rate. Another way of putting is the world is dependent on the expansion of the U.S. credit/debt system at an exponential rate... what a shitty spot the world is in.... eventually peak, collapse and liquidation of the walking unfunded liabilities.
Which is why Russia, China and India are on the hunt to find away out of this maze of craze money ponzi.
There is no out.... there is only in. Good luck. My guess... more walking unfunded liabilities will be liquidated there (Asia) than anywhere else. (Popcorn ready)
"Seems like every time we meet I've got nothing but bad news. I'm sorry about that, I surely am. But for what it's worth, you've made a believer out of me. Good luck, kiddo." - The Oracle (The Matrix Reloaded)Hotel California Economics...
If our system of settling trade (money) did note require exponential expansion, we COULD get along without a mass die off.
Our energy system would have to change, but we (even here) cannot imagine how things would look if we did away with the growth meme.
So I absolutely agree with things breaking, but I think the final outcome is up for debate.
pods
"If our system of settling trade (money) did note require exponential expansion, we COULD get along without a mass die off."
Correct. There would be other problems as is life, but you wouldn't necessarily need a liquidation phase like we will eventually face. Unfortunately, man did start a system and they continue to recycle the system over and over.... with some thinking there will be different outcome. 2+2=4
My guess 1-2 billion will have to go, another dark age or complete wipeout is not out of the question as efficiency of the liquidation phase has further gone up exponentially i.e. nuke and chemical weapons.
"Denial is the most predictable of all human responses. But, rest assured, this will be the sixth time we have destroyed it, and we have become exceedingly efficient at it." - The Architect (The Matrix Reloaded)
Makes sense .. 6th root race deleted in the 6th destruction of Zion.
From what I have read, the plan is for minimum of 2 to 2.5 billion.
Whether 1-2 billion have to go or 5-6 billion have to go depends on if we are able to put an alternative in place for fossil fuels. There are potential alternatives, but they are only partially developed and the infrastructure for running them is not in place. I'm just glad I'm not going to be in China or India when this shit-show moves onto the next act.
Whatever the case, in a decade's time, none of us will recognize the world.
Just as long as every military stays away from leveling the ghost cities. Some of us are going to need a quick ready made place to be able to relocate to. And I do not think I am going to be one of the lucky ones, but I need some of you to carry on our species. I would hate to let the cockroaches win. Safe travels my fellow man.
Bank Holidays Ahoy!
Good to know they're not planning on more than 5 days exclusive of weekends and holidays...
I thought the Treasury was the Capital market. Am I wrong?
Sort of. Listen to the king world news interview with Andrew Huzsar. He says that the Fed will have to ask for money from the treasury when they start making losses on interest on bank deposits
Have the banks cover the "losses". We covered them.
yeah, they'll cover them all right...by "bailing in" and stealing all the private accounts.
Get out of the banking system, "Folks"...get out now while you still can and before those "gates" are completely closed.
"We robbed some folks."
"We ball gagged and drilled some folks' puckered starfishes until it was turned inside out."
pods
"We pinksocked some folks."
The first ones out the door with their money are the only ones that will be whole.
Depends if "their" money belongs to a private bank.
pods
You know the system is perverse when banks have over $2 trillion of freshly created digital FRNs in excess reserves and those FRNs are considered a liability.
Bail In!
Fuck you all!
So the Fed is doing a reverse repo...sticking all the monetization back to the treasury. So what you say sounds about right to me. Also sounds "constrictive" to the economy...like the US Banks being forced to raise capital ala 2008 (and Europe everywhere now) so now the Treasury is doing the same thing.
Seems strange to say "great time to go long a steel mill" but it's not like there is zero demand out there. Size of the US Navy could grow quite large and quite suddenly here.
Er, about as wrong as every other issue you like to spout about
I admit when I'm wrong, which is why I asked. Can you say the same?
Didn't think so looking at your biography. Jew hater extreme.
Ardent anti-zionist campaigner for over 25 years. Is more interested in overthrowing the zoharite banker owners of zionism, which is just one of their many fronts.
Stick to the topic.
No one cares how long someone has been a member.
"What I've been saying here for months that the Federal Reserve knows it is fucked now cause the U.S. dollar is losing global currency status because the world wants to starve the U.S. military beast."
Sorry buddy, there is no switch to startup the fictional backup system,. The world is stuck until the end of the cycle, then liquidation of the unfunded walking liabilities, my guess 1-2 billion have to go, wake me up in 25-50 years to show me the new false messiah (medium of exchange) after the end of this cycle.
2.5 Billion worldwide of which they want 160 million left in USA for the Murder by Neglect Program
Dear Santa Claus,
I realize this is extremely early, but I have been a good girl all year, and I really, REALLY need an early present of a Black Swan. Any of the following will do:
Ebola break-out.
ISIS takes over US Embassy in Bagdad and cuts off a few heads.
Hamas assassinates Kerry during a mid-east visit.
Russia sends the troops into Ukraine and NATO responds in kind.
Or something else creative.
I would deeply appreciate being able to deflect blame from the Fed for the coming crash.
Kisses and Hugs,
Janet, the Ponzi Munchkin
If "Hamas assassinates Kerry during a mid-east visit." which side celebrates?
not a trick question
it would be the first time Americans ever celebrated the same thing as Hamas.
It just might finally bring peace to the Middle East.
Throw in Harry Reid and and Nasty Pelosi for a "three-fer".
Please don't forget Diane Frankenstein.
Santa is dead. Your wish is granted! Long Live Jambi!
"Mecca lecca hi, mecca hiney ho"
Dear Janet 'the Ponzi Munchkin', USA
Santa's Elfs' inform me that Christmas is cancelled this year due
to Santa's unfunded pension problems and labour costs of the Elf
Union Local #00001 North Pole CANADA. Please consult with your local Wizard of OZ Janet Yelen for the requests you have outlined. Moreover, the Elf rep informs me that you would have not made the 'good girl'
list this year anyways.
Best wishes in the future,
MASTER OF UNIVERSE
I wonder how their capital plan and living will stacks up vs those required of banks...
Headbanger
Fofoa's most recent blog piece goes over the failure of the rest of the world's failure to continue to support the dollar. It has stopped accumulating treasuries.
It is 37 page treatise...so not a 'quick read'...but if you want the juicy facts he has done some real work with this one.
It feels like homework reading it but when you are done you'll feel like you understand the basic problem facing the dollar and not just the explanations randomly tossed out by the media.
The Dirty Float http://fofoa.blogspot.com/
That fofoa post is one of the best ever. Minus the artwork
By 2020........
Major epidemic / pandemic outbreak
War in the Middle East again with American boots on the ground.
Continued dollar isolation as world economies dislodge themselves of a relationship with the dollar.
Peak cheap energy is now recognized worldwide
Peak old farts retiring.
Peak Labor Force Participation rate.
Peak illegal aliens suppressing wages and pressuring social services both local, state and federal.
Peak Ponzi
Time to prepare Fed. "Time to get to work Janet Yellen"
By 2020........
WWIII with theaters in Southeast Asia, Eastern Europe, and Middle East all provoked by CIA, armed by US MIC, with the end result being massive fatalities and destruction of industrial centers around the globe. USA is untouched throughout the war and regains supremacy as the world's factory and center of finance. Budgets are balanced and we all live happily ever after.
I'll let people decide between our two scenarios which one of us is living in a state that now has legalized weed. ;)
But that beast, alltoghether must be 50% of GDP ?
That's because an overdose causes death, headbanger. Time for a new, moar sophisticated, DRUG.
the federal reserve is not fucked until a u.s. military coup occurs.
until then, they are simply figuring out how to extract more purchasing power from the u.s. public.
i don't think you really understand how much power they have. they threatened congress to shut down the entire u.s. economy in 2008 if they didn't get there way.
of course, they were lying and bluffing about their power to do that ( if it happened it would happen regardless of their 'desire') but what they were not bluffing about was their ability to stop funding and prevent major corporations from funding any politicians campaigns who opposed them.
the banks have leverage over the major nexus of corporations that are responsible for the lion's share of 'money in politics'. and this includes the major private universities of the united states.
harvard , columbia, nyu, princeton, etc.....i mean for fuck sake, former dhs is the head of the california public univestity system. so the banks have leverage over the corporate and higher educational sector, and also work fairly tightly with the oil barrons.
if it is anyone that can push against the u.s. banks it is potential officers in the u.s. military, and the oil oligarchs who possible have enough power to challenge the banks, but have no reason for doing so and mostly every reason to cooperate with them.
when everything goes to total shit, you have 3 major banks--goldman jpmorgan and banc of zamerika that control the fed.
those 3 banks as a conglomerate are willing to eat their own (lehman) to survive. and would do it again and again. as long as the public takes the short end of the stick.
the only leverage the u.s. public has is popular support for a military coup by a conspiracy of officers loyal to the american people's crusade against bankers.
that's NOT going to happen. so the fed isn't worried. they are just maneuvering as usual.....
That's largely a lot of nonsense when the world simply says we don't want your paper or debt anymore. There is literally nothing that can be done outside of continued printing and monetizing. Why do you think gold is ripping higher today? Do you get it? The rest of the world is signaling that they are not buying treasuries at the level the US needs to run the government with the current deficit spending. The end is near and no one wants to admit the reality of higher interest rates to sell this debt to anyone and everyone. Game over.
550 Majors cashiered, one thousand captains before that, the rest of the upper echelon is political, coup, your dreamin'
Yep, and it's going to hurt us big time. When we lose that status, inflation will hit the roof if not hyperinflation.
Bel-gium!?
Beat me to it, Kirk.
Bel="capital", gium="markets"
We also sell beer...
Chimay!
And they gots French Fires, too!
sorry SD but I couldn't resist
And Westmalle, Rochefort, Orval and Westvleteren. That is all the real, all others are fiat ! :-)
Duvel! "Devil" beer - 8% alcohol content.
10 weight percentage. For export, they now have a lighter version, our main secret weapon must not be unveiled... . :-)
I (halfway) remember a night in Ghent, or was it Bruge, or both? Strong stuff, that Duvel.
If it wasn't for that celebacy thing I would be all in on becoming a Trappist monk.
Shiner...
http://www.shiner.com/
They need access to the markets to continue the facade.
For fuck's sake, the Chairmanwoman presses control-P and credits the treasury's account with 10^12,FRNs, problem solved.
I'm with you. Just hit some buttons and we are all set.
The problem is that looks too much like just printing money. The auction charade is needed to keep the people sedated.
That's only a $Trillion (or one of Ben's platinum coins). Won't even scratch the surface.
U.S. Civil Rights Commissioner: College kids not ‘developed’ enough for free speech
I suggest you all read this. If this were a Republican saying this the Social Media sites would be melting, where is the outrage?
George Washington was out and about surveying the western parts of Virginia when he was 13 years old.
Just how dumbed down are our children now? Apparently not enough to satisfy the uber-nannies.
They are throwing felony child abuse charges on a mom for sending a kid unsupervised to a park FFS.
He clearly misspoke.
Had he been reading his Trilateral Commission findings each evening as assigned by his overlords, he would see that everything is going according to plan.
What an ass.
Read through the BS, this is only smokescreen to issue more treasury at auctions and hand them to the primary dealers via reverse repos so that they can continue to short treasuries. Just like this talk about issuing 50 year paper - why oh why are they bringing this up, other than to put pressure on yields and benefit dealers - the only thing the treasury and the FED are concerned with.
Take away reverse repos and yields collapse.
And by the way, note that the upcoming auction are for amounts greater than the average auction amounts (30yr auction will be $16 billion, as opposed to normal $13 billion). This is all to satisfy the dealer bets, as the bid to cover is obviously weaker.
+1000
It was the middle part
Where I used to work, the policy was cash reserves equal to 100 days of operations.
99% of the U.S. is living paycheck to paycheck (SNAP to SNAP); the U.S. gubmint is living ponzi auction to ponzi auction
There's a great day a'comin'.
SNAP to SNAP is the scary one. Apparently, if you go into any Walmart just before midnight on the day the cards get reloaded, the place is packed with people food shopping. What happens if, for any reason, those SNAP cards don't work?
Couldn't they just borrow from Greece or Italy or possibly Venezuela or Peru. Lots of options it would appear. /s
The largest government in the history of the world and they only have 2 DAYS inventory of ready cash when they don't have to mint it just print it??????
What fucking shit!
The fuckers print the shit for nothing and they have only 2 days inventory.
What the Fuck.
Fuck me.
Don't forget, our currency has to be borrowed into existence. They don't just print it.
Yeah, well...not working too well when you have to borrow your recovery into existence too. "Everything points to more Detroits" to me. We're swimming in oil and natural gas liquids...and we're in a recession!???
"Get thee to a gold standard sinner!"
They tax that shit. Ever fuckin dollar is unequal debt the gov cannot pay.
They is why Congress was suppose to over see this shit. Andrew Jackson knew the deal.
I think you wil find this explanation very interesting. The main point is that the U.S. Treasury cannot print Federal Reserve Notes. You might say: "Why can't the Treasury print its own notes?" I would say the Treasury can but the last President that had the Treasury print its own notes was JFK and look what happened to him.
http://english.pravda.ru/business/finance/14-09-2010/114921-us_dollar-0/
When I was a kid - I thought the reason we needed a Federal Reserve as a separate institution to manage our Currency was since Congress could not be trusted with it's powers of the Budget due to the Risk of Devaluing the Currency
Now we know better
- We could manage Regional banks for Cash Reserves to prevent Bank Runs
- Fed has damaged the currency as much as congress
- No Federal Government Credit Down Grade yet, since we are a super power
- Winner will be the Country or Countries that don't Debase their Currency as bad as the Other Currencies
- That thing about helping Jobs or Managing Inflation, that is BS, Never Happened
What about an unexpected 'event' such as Ebola?
100% agree with you CD
"A Mount Sinai spokeswoman, Dorie Klissas, said that to protect the patient’s privacy, the hospital was not making public his occupation, which country he had been in, whether he had been exposed to a patient with Ebola there, or whether he had close contacts like family members, friends or co-workers who were also at risk. Officials said they expected the results of the tests for Ebola in 24 to 48 hours."
This mfker was checked in on Sunday. Anytime they feel like announcing those test results they have been sitting on for a day, we are ready....
Sounds like DOHS to me
We will know within 30 days if Ebola is going to be let out...
A bit of trivia: Facebook burns through 195 million man hours a day. Do you know where your spouse and kids are???
Translation; have moar than two days worth of cash on hand for the upcoming false flag.
Having cash makes you a terrorist. And since "terrorism" (whatever that is) is illegal, and thanks to civil forfeiture, all your cash belongs to them. :/
Treasury contracting out Secret Service now?
"Who's protecting the President today?"
"Uhhhhh. Looks like Joe Kaiserhoff and some dude named Fred."
"Okay! Great work Team!"
Lol the pic.
why are the guys who print money out of thin air worried about cash?
Why do you think they are eyeing 401k's for ?
I will keeping saying it, the govt. WILL steal everything you have,their survival
is paramount, and fuck us serfs.Another warning right here.
How many warnings do you need ?
I picture a 5-year old trying to bail the water from his sandcastle while the tide is coming in.
Please print us several weeks worth of slush money in advance. Thanks!
The just do currency swaps from phantum Belgium account, THEY ARE LIAR SACKS-A-SHIT , DON'T BELIEVE A WORD OF THESE FINANCIAL TERRORISTS
One good solar flare and POOF!
• This shortfall increases to $89 billion if market access had been lost for 5 days and $239 billion if market access had been lost for 10 days. That's over 1/4 of a $ trillion in 10 days!
Why does 10 days = $239B if 5 days = $89B? Why not $178B? No wonder these guys can't balance the books, they can't add!
Good point!
"Add a zero to that number just to be safe!"
it's a step chart, not a straight line.....
But if we could just tap the bank accounts and 401k's of US citizens temporaily, mind you,....
Why temporary? Look at the back of any "money" in your wallet. It clearly states "Federal Reserve Note". They just want their property back.
Remember, money always returns to its rightful owner.
That is the job of Gartman.
Is the FED (taxpayer) not long 100% of all those high yielding 1% bonds yet?
If Russia wants to mess up the US it can start by tracing those Belgium buyers back to the Federal Reserve and their swaps.
One huge Ponzi scheme.
Oh yeah, and who ya gonna believe: some ex-KGB Godless commie killer of babies OR YOUR Federal Reserve Bank?
(Cue: Slow motion eagle flying in slow-motion, in front of a slow motion flag waving in slow motion, behind a slow motion patriot looking skyward with a slow motion tear in his slow motion eye.)
please, let us do the full thing. with images of planes hitting burning towers in the background.
dear god (or allah, or jehovah, or buddha, or krishna) - i love this country. our leaders and our laws simply
outstretch anything that was previously envisioned by any culture or country.
Well, these are our choices. Fucked indeed.
Puts on Real estate fund is surging. The put option volume on dollars indicate it's gain, banks- especially Wells Fargo has high put bets against it.
http://www.optionmonster.com/news/article.php?page=puts_surging_in_reale...
TRUST US EVERYTHING IS HUNKYDORY WE'RE THE GUBBERMINT
HUGS&KISSES BARRY
What would happen to you or me if we were found to have a private printing press in our bedrooms, that printed the national currency at will, for nothing, from nothing, and for nothing, bar the cost of paper and ink?
Would you go to jail you filthy counterfeiting fucker?
Yes you would, so whats the difference for the suited fucking criminals then?
Just a touch more poke than you or I then?
Talk about 'Making Your Labour Value Worthless'.
These bastards live like leeches on all our skins. Its about time we peeled the fuckers off.
Bunch of fucking cunts.
I'm a lurker here but read everything, when I see your posts I scan the text for the "c" word to be dropped. If it's a good day I might see 2 or 3 from you and it always brings smile to my face.
:-)
Nice one I woke up, that means what I do works doesnt it?
Lets give these fuckers war then shall we? And cheers for that mate, you made me smile.
The amount of times I have posted just this till I am blue in the face must be worth fucking something;-
'We, The, People. We, Will, Be, Heard'.
And I have no fucking doubt we will be.
Smile and wave mate.....
96
Every time Inthemix posts, I am reminded of the "Irish Wanking Bankers" video.
https://www.youtube.com/watch?v=q2nA2szz8dY
Keep it up my ZH brother.
Might want to save this one and remember where you were and what you were doing the day you read it!...
Havenstein didn't allow such a problem to exist. Why is Lew, representing a Govt "of, by and for the people, subservient to Dimon?
Pres. Jackson solved this problem.
Like picking up trillion dollar coins in front of a steamroller.
I draw two conclusions from this.
1. Treasury needs to issue more debt
2. Fed has one more reason to follow its QE exit plan
This must be a joke, right?
Access to "markets"? Whaaaat?
Didn't Bernanke himself said that "we just mark up or down digits on computers" at 60 Minutes years ago trying to explain QE?
There is no 'financial market'. It is suspended.
There is only 'financial video game', that's why world is abandoning USD
Either swaps implode and about $20 trillion is extinguished and oil goes down to $50 max as stays there for a while, or.............
...........or bullets will be flying into heads very soon.
In a country where the Military hates the Commander in Chief and the Commander in chief hates the Military, the current situation is absolutely unsustainable
you are dreaming, i'm dreaming also. but - it's a dream. will never happen in our lifetimes.
This is all about the international markets saying enough. Bond markets close access to countries all the time when countries look like they are out of control. That's really what we're talking about aren't we Jack Lew. International markets have signaled they no longer need or want the dollar. Now then that leaves Treasury and the Fed between a rock and a hard place doesn't it. How about cutting spending idiots. Treasury is now just starting to get it and maybe they can pass the word on to the president. Maybe he can get everyone else to wake up and take some action such as cutting spending dramatically. Yeah that'll happen.
I know! They should open 24 hour Treasury Marts in every Walmart and let people buy Notes at a discount with EBT. It's only slightly more of circle-jerk than the one currently in place.
Why? with rising rates, and rates that may rise out of control for periods of time, Treasurys may not be preferred over gold, bridges, scrapped aircraft carriers and oil leases. The latter items are not as easily fungible and quickly sold.
Isn't this where the trillion dollar coin comes into play?
Time to ramp up the Ebola virus
Keep up with the US Media Jones, Rabbit Fever. When one story goes dead, create a lovable bunny fear. Watch out for the easter bunny airborne egg disease.
This disease shit is like clock work
http://www.cdc.gov/features/salmonellaeggs/