According to the Daily Treasury Statement for July 12, which the U.S. Treasury released this afternoon, the federal debt that is currently subject to a legal limit of $16,699,421,095,673.60 has stood at exactly $16,699,396,000,000.00 for 56 straight days.
That means that for 56 straight days the federal debt has remained approximately $25 million below the legal limit.
Even though the portion of the federal debt that is subject to a legal limit has not changed in almost two months, the Treasury has continued to sell bills, notes and bonds at a value that exceeds the value of the bills, notes and bonds it has been redeeming.
The shit storm that surely will come in September, when the Obama Admin hoodwinkery can no longer mask the real debt number, will be devastating. Both stock and bond markets will take severe hits and the dem spin machine will be busy again.
Maybe someone with knowledge can explain to me why people keep buying US bonds.
Is it that the alternatives are even worse?
if anyone believes that, I have a real nice tower in Toronto for sale. I will let it go for a mere ten million dollars.
Chicago Dem creative book keeping
Who would lend money to an institution that is no longer bothering to hide its phony bookmaking?
Hey c’mon, it’s ONLY numbers…….besides, what would Obumble’s son think, yo!
Cyprus anyone?
Amazing how many Americans think they can stiff the Chinese for monies owed them and think that will balance the books. The Chinese are in trouble themselves and have been shifting assets out of the US$.
There will be a call on USA citizens (shareholders) assets to bail this situation out. Politicans, especially progressives, look at the net worth figures of citizens and simply continue to spend knowing that they can attach assets in an emergency. The real big problem is that they don’t know what a real emergency is. The inevitable result will be some form of dictatorship. I suppose that is what the left has wanted all along.
This is not new. Every time we run up against the debt limit there are ‘standard extraordinary measures’ that can be taken to shift what gets paid for and when. For example, taking money out of civil service retirement funds – though it must be repaid once the debt limit is increased.
(clicky)
Lord Monckton has a few words on the subject
Outright fraud at the U.S. Treasury. Lord Monckton has evidence Secretary Lew is cooking debt-limit books
“Secretary Lew even went so far as to write to John Boehner, the dozy speaker of the House, saying he was going to fiddle the books. He said in his May 17 letter that he would be implementing what he called the “standard set of extraordinary measures” [if they’re extraordinary they’re not standard, Jack, baby] so that the Treasury could go on borrowing in defiance of the will of the people’s elected representatives, while declaring that it was not borrowing anything extra at all.”
http://www.wnd.com/2013/07/outright-fraud-at-the-u-s-treasury/
Outright fraud at the U.S. Treasury.
–
Obama desperately needs another crisis:
Massive Earthquake Destroys California..
Bikini Inspired Tsunami Flattens New York City.
Black Man Shoots White Hispanic While Standing Over His Whore..
Something…
Treasury has continued to sell bills, notes and bonds at a value that exceeds the value of the bills, notes and bonds it has been redeeming.
And they sent Bernie Maddox to jail for life,
because of a 60 billion dollar ponzi scheme,
Our Treasury is closing in on 17 trillion dollars,
and keeps taking investors monies..
Old Barnum had it right,
Suckers born every minute..
Money doesn’t grow on trees you know.
Obama desperately needs another crisis:
Massive Earthquake Destroys California..
Bikini Inspired Tsunami Flattens New York City.
Fearless….the above 2 are NOT crisis, they are blessings. Oh. And buy Monopoly games. The money in there is going to be a heck of a lot more valuable then the USD/CDN bucks in short time.
Fraud
Pay no attention to the idiot(s) behind the curtain…
PayPal ‘credits’ US man $92 quadrillion in error:
http://www.cnn.com/2013/07/17/tech/paypal-error/index.html?hpt=hp_t2
We make money the old fashioned way…
We print it.
The crash wont be what you think, as a bankrupt government will resort to the only thing left for them to do, and that’s to steal.Do you remember the bail-ins, in Cyprus, their it was the banks went bankrupt, but here it will be the government stealing your money. In Canada we already have a Cyprus bill, that lets then do just that. I assume the USA has the same but from what I see they don’t need any bills to do whatever they want anyway.
The administration is simply cooking the books and nobody cares. End of story! It could simply go on until the Republicans are elected and then it will be a scandal.
Yes, which should tell you how bad the debt problems of the rest of Western Civilization are. Or perhaps it is a statement that in spite of the Obama Administration, the U.S. will muddle through.