Thread: US Treasury Burns $90 Billion In Cash In Under Two Weeks

US Treasury Burns $90 Billion In Cash In Under Two Weeks

Submitted by Tyler Durden
07/14/2011 16:21 -0400
84 comments

Now that's what one calls prudent fiscal planning...



Source: DTS https://www.fms.treas.gov/fmsweb/viewDT ... 071300.pdf

Now granted this is mostly due to paying off maturing Bills, which Geithner can't roll due to the debt ceiling being breached. But keep in mind that as we pointed out in T-Minus Two Months Until The $500 Billion Rolling Debt Ticking Timebomb Goes Off http://www.zerohedge.com/article/t-minu ... g-timebomb that there is nearly $500 billion in maturing short and long-term debt in the next month and a half which there will be no money to fund unless a debt ceiling decision is reached, but not by August 2, but July 22... or a week from today. And with Boehner refusing the Camp David dance invitation today, one can see why for the first time this afternoon we saw a coordinated sell off in bonds and stocks as the market is finally asking "what if..."

http://www.zerohedge.com/article/us-tre ... -two-weeks

Going down just ONE PEG from AAA to AA will increase interest rates dramatically on the already 50% devalued Dollar.

Going from AAA to a D in one fell swoop will lead almost instantly to World War III as global economies still have not had time to switch over to the Yen and Ruble.

Each American living today already owes (depending on who you listen to) from $45,000 to $150,000 in national debt, and that is JUST TO BREAK EVEN on the debt this country owes as you are reading this.

Those who know will tell you we have finally reached CRITICAL MASS.

If you took all private, public, commercial, residential, federal, state, county, and local government monetary worth and came up with a dollar amount, it STILL WOULD NOT BE ENOUGH to pay off our national debt.

Stick a fork in it ..