As Treasury Cash Drops To Just $14.2 Billion, And No Bond Auctions Until Next Week, Is America About To Run Out Of Cash?
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...
Far worse than the nuclear meltdown in Japan is the economic meltdown in progress right now in the USA and globally because our "dear leader" has no clue how to govern or what that even means since he has never done it before. He could not even run a fast food stand in Indonesia.
The Japanese who were one of the major buyers of our debt are now in need of their money for internal use so cannot continue to buy up ours (act as our credit card). The question pending is: are they just going to stop buying our bonds OR are they going to sell off the ones they already hold. And crash our Dollar?
Already PMI the largest bond dealer in the world has jettisoned all US bonds. With the best in the game dropping our bonds how long before every other major or even minor dealer follows suit?
Meanwhile ObaZero plays golf and avoids dealing with any of the major pressing matters we face as a nation and as a world! He even outdoes President Carter as the most inept, inadequate and useless leader at one of the worst times in our recent history. Which he has actively helped create and grow.
To try to go on the defensive, fiscal and financial "experts" are now touting inflation as a stop gap measure - printing more money - as it loses value precisely for that reason.
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.
As if all that were not enough, ObaZero's weakness and supporting Palestinians, who hate America, has resulted in two of the murderers of the Fogel family being trained by USA military Generals.
Two members of Palestinian Authority President Mahmoud Abbas' official security forces were arrested in conjunction with this past weekend's bloody massacre in which five family members were brutally stabbed to death inside their home in the Jewish village of Itamar, WND has learned.
Two cousins are now in Israeli custody and are suspected in the slayings. Ahmed Awad is an officer in Abbas' Preventative Security Services in the northern West Bank city of Nablis. Iyad Awad is an officer in Abbas' General Intelligence services in Ramallah.
Both the Preventative and General Intelligence services of Fatah are armed, trained and funded by the U.S. - YOUR STOLEN/redistributed TAX DOLLARS AT WORK.
Unreal! Our tax dollars arming and training monsters in human skin who cut the throats of children and 3-month old babies. THUS, MOTIVATED AND ENCOURAGED BY OBA-HUSSEIN!!!
THE PHOTOS ARE DISTURBING but make the point.
Plus the reaction of ObaZero's Moslem Palestinian brothers was to rejoice and pass out cakes and sweets to the public in the streets.