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| User Info | The Untenable Position Of Treasury in forum [Ticker] | |||
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Genesis Posts: 71435 Incept: 2007-06-26 
KD^2 
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http://market-ticker.org/archives/1509-T....
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-10-13 11:28:48
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Cheapbastud Posts: 659 Incept: 2007-10-09 
F is for FAIL
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The last H.41 shows an increase of $3Billion SDRs on the Fed balance sheet. A more than doubling in one week.
2009-10-13 11:42:25
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Asianbull Posts: 2184 Incept: 2007-09-03
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run on USD is headed our way
---------- The root cause of all the world's problems is inflation. The only sound money in the world is commodities.
2009-10-13 11:48:16
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Koaj Posts: 959 Incept: 2009-02-03
NJ Online
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i wonder why this isnt the lead story on every major news show...(sarcasm of course) J6P wont get this until its too late and the food riots have begun. very sad
2009-10-13 11:50:50
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127001 Posts: 917 Incept: 2008-05-21
Online
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Earlier in the year, coupled with the war funding bill we agreed to provide the IMF with a 100billion dollar line of credit. http://www.reuters.com/article/politicsN.... This is not the same thing, this is outright purchase of their currency - which increases demand for SDR's and raises their value. (supply and demand). At the same time, it lowers the value of the dollar as they are sold to do this conversion. One can make the case that our current run on the dollar is not a foreign entity but our own treasury leading the charge to devalue to usd. seatbelt time indeed.
2009-10-13 12:05:57
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Viperjason Posts: 905 Incept: 2008-03-06 
Reno
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Karl, It was an original 300 billion, not 600 billion.
2009-10-13 12:09:43
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Fortune Posts: 1455 Incept: 2008-04-21 A deep dark place...scary
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Untenable is absolutely the word..and it is worsening by the week.
---------- It's a toss up. It is the Rule of Law that transforms assets into money: Martin Armstrong Math IS: Karl Denninger
2009-10-13 12:11:30
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Dashingdwl Posts: 4564 Incept: 2007-06-26
los angeles
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Buckle up.
---------- Think Green Tip.
2009-10-13 12:26:16
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Raaction Posts: 204 Incept: 2008-02-06
N.W. Arizona
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So does this mean that the treasury is positioning itself for a new world currency and will abandon the dollar at some point? And if this is inevitable how would a person position themselves accordingly?
2009-10-13 12:43:38
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Fortune Posts: 1455 Incept: 2008-04-21 A deep dark place...scary
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Uncle Sam is frickin' broke and we all know interest rates must rise, but if they do rise, they're going to be so much more "broker". If this was a company credit card, think about how this ends.
---------- It's a toss up. It is the Rule of Law that transforms assets into money: Martin Armstrong Math IS: Karl Denninger
2009-10-13 12:46:15
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Lop60068 Posts: 11 Incept: 2009-09-17 Chicago
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I am disturbed by the FED's ability to do whatever it wants regardless of the constitution or the law. Are we still a nation governed by the rule of law?
2009-10-13 12:54:05
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Djsnola Posts: 114 Incept: 2009-03-16 New Orleans
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Were we ever?
2009-10-13 12:57:17
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Reddweb Posts: 381 Incept: 2008-01-20
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John Maynard Keynes "In the long run, we're all dead." Krugman and others(Ben et.al) take that quote seriously. Their immediate goal is to make sure the output/productivity gap is not wasted, or get full usage of gap. But they are playing dangerous games with Dollar as currency with this strategy about Debt, Deficits. My problem is not deficits, but the wrong bailouts(ponzi schemes) and moral-hazard. Savers get *ucked hard with these Keynes Games.
2009-10-13 13:05:21
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Nirvan45 Posts: 1578 Incept: 2007-10-31
florida
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A few points First I recommend looking at domino pizza report, I am sure you will find plenty on their reported number to reinforce the point of view that consumers are literally dead. Look with respect to their added cost for ingredience and revenue. Secondly You are placing a lot of emphasis on congress and the power assign to them. I recommend watching the pbs interview that chummin posted over the weekend with Marcy from ohio. These are a bunch of spineless cowards THat reminds of an old saying we have If you are warming your hands behind their ass, you are doing it wrong
2009-10-13 13:06:57
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Kuhio Posts: 206 Incept: 2008-12-31
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Gen, I just posted this on the prior thread: Tesla, Mm & Sushihorn: the end game, as I alluded to in one of my prior posts, is to find new, fresh & unencumbered markets for debt. Humans are just like every other species. Like yeast, we engage in resource depletion and experience environmental degradation (after all, this is how champagne is made). The solution to the resulting blow-back has always been to move on and find new regions to exploit, NOT to stick around and attempt to restore that which has been destroyed. Sushihorn believes, contrary to Schiff, Rogers and many others, that extensive, centuries old Ango-Saxon legal precedent regarding property, debt, judicial process/cures, etc will preserve our place as an "indispensable nation". Mm views the Chinese as having the opinion that "white monkeys" got lucky and were able to run the table for the last 500 years or so, in essence controlling both the great trading/economic game and the world's resources/assets to OUR benefit. So who's gonna win out in the end? I think the smart boyz are in agreement with Rogers. They know we're not indispensable. What is easier to achieve? Reforming and rehabilitating a recovering drug addict (ie a "proven" customer with an established record of consumption) to the point where they can once again ingest OR develop the appetites of a whole new, healthy customer base? What would be required in the latter alternative? The establishment of the rule of a law. IOW, a huge new market opportunity to implement the entire system of Western jurisprudence. What would be the benefit? A HUGE new, clean & healthy market for debt & consumption. Think macro and think long-term. The US is just one giant inner-city. Can you name one inner-city that has ever been restored? Why do you think it's easier to plow over virgin countryside in which to build new subdivisions? The PTB properly see the BRIC countries as the empty desert surrounding Phoenix. I would suggest to anyone believing that Detroit, St Louis, etc can be "turned around" to study up a little more on history and human ecology. That's why the US is hosed and it's why the PTB are milking it for all its worth before they head out of Dodge.
2009-10-13 13:21:01
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Uppity_peasant Posts: 301 Incept: 2009-06-26 Online
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KD wrote: "The "get up and dance while the music is playing" meme is back out in force, with mutual fund managers now chasing returns lest they be fired for not being invested." The bagholders are all lined up... See, now that "the recession is over", ordinary folk are starting to worry about their retirements, and their return on their 401Ks. Pretty soon, Joe Rube will be "all in" in order to get his retirement back up to snuff, and it'll be time to drop the trapdoor. Fool you twice, Joe Rube, and you'll still have good enough TeeVee reception on your new cardboard box digs, good enough to get Monday Night Football, and American Idol... ---------- ===== Take your red pill daily @ The Market Ticker, with your host Karl "Morpheus" Denninger
2009-10-13 13:44:53
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Chris92346 Posts: 647 Incept: 2009-03-25
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From what I undestand the average rate on the national debt is about 3.2%. How long can you really expect it to stay that low? Even a jump to 5% could be disastrous.
2009-10-13 13:58:03
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Sean Posts: 365 Incept: 2009-04-21 Phoenix - Go Sheriff Joe!
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Quote:and it'll be time to drop the trapdoor. BINGO Uppity! ---------- How long before we all Go Galt?
2009-10-13 14:02:01
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Mike57 Posts: 352 Incept: 2009-03-10 Bethlehem, PA.
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A run on the dollar in this environment will destroy those living from paycheck to paycheck. Standards of living for the lower classes and lower middle class will be greatly reduced. Those at the bottom of the pyramid will be the real victems of Bens experiment. To prop up the dollar Ben must "call" excess liquidity back in. Just how can he do that though? The only way I know of is to sell debt to call back all of the phantom money that he conjured into existence. How he pulls that off without driving interest rates up is anybodys guess. Is this even possible?
2009-10-13 14:22:36
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Tiswritten Posts: 107 Incept: 2009-04-02
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Karl you really know how to cheer up the economic recovery. Heh. But thanks again for the heads up. You must be a genius to write as well as you do. By the way, that was what I meant with the large noggin remark on the other thread. Just out of curiosity, any bio about you available? Like where did you acquire your writing skills, etc.? Thanks.
2009-10-13 14:35:01
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Financeguy Posts: 4946 Incept: 2007-08-10
Charlotte
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Like him or not I will credit Glen Beck for raising hell on this issue.....
---------- "Granted, if you are not into Barbara Streisand and creme brulee, South Beach could be a tad lonely." Eleua
2009-10-13 15:10:03
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Genesis Posts: 71435 Incept: 2007-06-26
KD^2
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Quote:Like where did you acquire your writing skills, etc.? God. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-10-13 15:10:55
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Mike57 Posts: 352 Incept: 2009-03-10 Bethlehem, PA.
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Talent on loan from GOD!!!
2009-10-13 15:14:48
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Patm15 Posts: 156 Incept: 2009-02-23
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Mike57 God can give and God can take away. Nicely put.
2009-10-13 15:31:47
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Skybluepink Posts: 235 Incept: 2007-10-20
RI
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Did anyone catch Wilbur Ross on Squawk Box a week or so ago? Joe asked him what we were going to do with all of this gov't debt - how would we ever pay it back? Ross replied that the only alternative to defaulting would be to devalue the dollar. He went on to say that in the 30's we were able to devalue our currency against gold, but now there is nothing to devalue it against - except for maybe SDR's if we could get that worked out. My chin hit the floor. How could the criminals in charge execute this - or have they already started??
2009-10-13 15:39:07
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