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Friday Treasury Cash Balance: $65 Billion
With total Treasury cash dropping by $15 billion on Thursday, many were expecting a far uglier print as of the close of last week. Instead, total cash in the Federal Reserve Account staged a dramatic bounce on Friday, and is now back to $65 billion, following tax revenues offsetting contractual spending and another $13.7 billion coming in from the settlement of public debt issues. From here on out it is only downhill, and the cash is likely about $20 billion lower as of market close today (we will know for sure tomorrow). If the burn rate is smaller it means that Tim Geithner is dipping far more aggressively in Government retirement and Social Security trust funds than anyone could have imagined (Bruce Krasting discussed this previously). And yes, for those with a double digit IQ, the Treasury has less cash than Apple still.
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It may have less cash than Apple...
BUT IT HAS A LOT MORE EMPLOYEES!
maybe if the government would replace them by 500.000 robots.... but can robots put stamps on paper and lick enveloppes...
can robots act like they are working 2 hours a day...
Robots would only lick the envelopes if they had white powder in them
you don't lick the white powder! Every government employee can tell you that!
You take a 50 dollar bill, roll it, and use it to sniff up the white powder.
Bachelor party (http://www.youtube.com/watch?v=R_xZIKiIi1w)
"And yes, for those with a double digit IQ, the Treasury has less cash than Apple still."
i guess i will just have to take your word for it.
The Treasury has less cash than me.
Someone has to artificially reduce the interest rates to reduce the interest payment. Is it happening right now? The FED?
Perhaps some of the 16.1 Trillion dollars the Fed loaned out during the past 2 years or so to their banking buddies in the US and Europe is somehow finding its way back into the bond market (and also into the stock market) to keep the interest rates artificially low (and the stock market artificially high). Just until sometime after they raise the debt limit, of course. What happens after that? We'll have to wait and see. We might all have a rude awakening.
A coup has just taken place, 'Uber COngress' which shall cut $2 trillion by fall....thats AUSTERITY MEASURES....hell Tyler even a double digit IQ guy like me can clearly see it.
?LaRouchePAC Stop Obama's Hitler Coup August 1, 2011? - YouTube
A SECRET congress was just put in place by this communist agent Obama, and all anyone is worried about is if their 100 P/E stock will go up? Insane. This is a destroyed country.
How does one have loyalty to a government that ensures MedicAid for illegals, but tells soldier in a war zone they only might get paid?
This shit has gone looney tunes.
Hardly a crisis when bond prices are skyrocketing.
Probably will be an acute shortage and buying frenzy once we default because the existing bonds will suddenly be in hot demand.
Imagine what would happen if AAPL suddenly stopped making iPads....There would be an instant run on existing stock.
Same could happen to 5-yr. and 10-yr. Uncle Gorilla Notes
LOL....
Like this fool RoboTrader, doesnt care about anything except 100 P/E stocks and bond prices. He's the reason this country is destroyed totaly.
This dang debt crisis really has people at their wit's end.
It looked like Sheep and Robot were going to start riding bikes together just a few weeks ago...now we get "he's the reason this country is destroyed totaly". Ouch.
How do you differentiate between different grades of manure?
Is there a cheat sheet somewhere?
Downgrade them! What are the ratings agencies waiting for? It is so obvious that we are not AAA.
Like the British CIA/MI6 agents who run the S&P are there to tell actual ratings truthiness?
WOW people are going to be mad when they find the $2 trillion in 'cost cutting' came from their social security, their pensions, their 401K's. This is stealth austerity and no one even has the slightest clue! Theyre all just worried about what futures do overnite.
?LaRouchePAC Stop Obama's Hitler Coup August 1, 2011? - YouTube
American History after 2012 for $50,000,000,000.00 please Alex?
Japan's debt is rated AA yet their bonds are trading at a 1.6% yield.
I suppose that is what is coming next for the U.S., starting tomorrow.
That's going to leave a lot of "experts" slackjawed.
Of course you are assuming that they will raise the debt limit today.
hm 2.74 % + 0,25 % ?
Assuming the vote goes forward. Debt reduction $2.5T and an increase of debt ceiling of $2.5t equals $5T of crack on the table. Looks like the party continues....
I'll bet the CBO still counts the 70 billion fiatscos in guaranteed student debt as money good ! Full recourse bitchez...involuntary servitude for life !
wonder what happened with bank reserves at the Fed on Friday?
Funny that ;)
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