The Coming Debt Limit Drama: Government Wins, We Lose

http://the-free-foundation.org/tst1-21-2013.html

Treasury Secretary Geithner: Lift Debt Limit to Infinity

Insanity within the US Treasury is now a fixture.  God help us all.

http://cnsnews.com/news/article/treasury-secretary-geithner-lift-debt-limit-infinity

Treasury Quietly Warns: 'Expect Debt Limit to Be Reached Near End of 2012'

The US Treasury is starting to act like the credit risk it is becoming--yet again.

http://cnsnews.com/news/article/treasury-quietly-warns-expect-debt-limit-be-reached-near-end-2012

Congress staring over edge of ‘fiscal cliff’

http://www.washingtontimes.com/news/2012/may/22/congress-staring-over-edge-of-fiscal-cliff/

DEBT LIMIT - A GUIDE TO AMERICAN FEDERAL DEBT MADE EASY.

http://youtu.be/Li0no7O9zmE

Obama to ask for debt limit hike: Treasury official

http://news.yahoo.com/obama-ask-debt-limit-hike-treasury-official-152416457.html

U.S. Approaches $15 Trillion Debt Limit

http://abcnews.go.com/blogs/politics/2011/11/u-s-approaches-15-trillion-debt-limit/

California Weighs Contingency Loan as Debt-Limit Turmoil Looms

So this is a "contingency loan" on top of last year's bridge loan.  Sure sounds like California's bankruptcy is imminent to me.  It looks like Meredith Whitney's prediction on munis is right, as was her call on the subprime mortgage crisis.

http://www.businessweek.com/news/2011-07-14/california-weighs-contingency-loan-as-debt-limit-turmoil-looms.html

Ron Paul Dismisses Boehner’s Dollar-for-Dollar Debt-Cut Demand

http://www.bloomberg.com/news/2011-06-03/ron-paul-dismisses-boehner-s-dollar-for-dollar-debt-cut-demand.html

Republican presidential candidate Ron Paul dismissed House Speaker John Boehner’s call for spending cuts to match any increase in the federal debt ceiling. A fiscal catastrophe is coming whether or not the country exhausts its borrowing power, he said.

“I don’t take it seriously,” the Texas congressman said of Boehner’s demand. Paul predicted Congress would “go up to the last minute” before the Aug. 2 deadline and then raise the nation’s $14.3 trillion legal debt limit, yet fail to solve the problems underlying the nation’s soaring deficits.

“The catastrophe comes regardless, because as long as they encourage more spending, then we go over a cliff,” Paul said in an interview for “Political Capital with Al Hunt,” airing this weekend. “So I want to stop us,” said Paul, who said he will vote against raising the limit.

“I think there will be a credibility gap” for the other contenders, Paul said, responding to a question about potential primary opponents including former Massachusetts Governor Mitt Romney.
Voters “know that I’m leveling with them, and I’ve done it all along, and I’ve expressed these concerns for 20, 30 years,” he said.

Paul, an advocate of abolishing the Federal Reserve, said while he doesn’t expect other candidates to rally around the idea, they “won’t laugh as much as they did last time” he ran for the Republican presidential nomination.

“Just think of the difference on the attitude of the people now about the Federal Reserve,” Paul said, noting that Fed Chairman Ben Bernanke took the unprecedented step April 27 of holding a news conference to defend his policies. “It’s a failed system, and people are starting to realize this.”

A DEBT LIMIT INCREASE WITHOUT SIGNIFICANT SPENDING CUTS & BUDGETREFORMS WILL DESTROY AMERICAN JOBS

I've been called everything in and outside the book of etiquette by friends, family and strangers.  Now I have company.


http://www.scribd.com/doc/56800037/150-Economists

Gold Bullion Sale Ruled Out By US Treasury

This should silence the "you can't eat gold" crowd.  Last time I checked, you can't eat a dollar bill, either. And what about that Keynesian argument declaring gold a "barbaric relic" of no value? 

http://goldnews.bullionvault.com/gold_bullion_040520112

US TREASURY SECRETARY Tim Geithner has ruled out a sale of Gold Bullion by the US government, as Washington approaches its legal debt limit of $14.29 trillion.

In a letter to Congress, in which he asks for the debt ceiling to be raised, Geithner states that selling reserves of Gold Bullion “would undercut confidence in the United States both here and abroad”.

The Treasury Department predicts the US will reach the debt limit no later than May 16.

The US government – the world’s largest single holder of physical gold – has not sold Gold Bullion, other than small amounts for coinage, since 1979.

In 1980, a year that saw Gold Prices peak, then Federal Reserve chairman Paul Volcker refused to rule out a sale of US Gold Bullion.

Central banks last year became net buyers of gold, according to research by GFMS, the leading precious metals consultancy.