[henkster]

Goldman-Sachs; among the many bankers who, in 2008, said “We need the money. Give it to us now.”

[dblshot]

So help me out here please. Goldman Sacks seems to be saying that the Treasury accounts are a balance of cash assets against bond liabilities and that it's cash assets will have trouble covering interest on bonds if it can't borrow more. My question is don't all the other government departments get there money from the treasury? If so can't the treasury simply not give them as much cash so it has funds to cover its debts? This seems t be like a family spending as usual on entertainment and ating out and then saying it can't pay the mortgage and car payment.

[knarf]

It occurs to me, The Treasury is a bunch of offices in a building with paper and electrons and people ... but no cash ... no money.

The only "money" in America is in our hands ... it is our labor.

What if everyone in America got blue flu?

One day would be a heads up ... two or more, no more than a week would be a movement and two weeks would be a revolution ...

That we'd win ... without firing a shot.

[capydick]

Gasparino had a good article yesterday and explained how GS has stayed out of the crosshairs of this administration by touting and supporting the leftist line, from gay marriage to support of the President during this shut down.

Jamie Dimon at JPMC however, has a target on his back for speaking out against this administrations policies (ironic tho, Jamie was the first person to walk O around Wall St introducing him as "my guy" see what that get's ya?!) and is offering 11 bil to make everything go away. The admin however won't be happy until he is gone and out of the bank.

Blankfein is playing ball and Jamie wasn't or isn't - despotism at its best.

[silverleaf]

I haven’t heard that the IRS is going to shut down and stop collecting taxes.

They collect over $2 Trillion a year just in taxes and that is enough to prioritize paying interest in the debt (about 10% of that $2 Trillion) and fund the rest of govt at 2001 spending levels- about a 25% reduction across the board from current spending

Given that the govt has revenue to meet most of its obligations, default would not be triggered

unless Barack-cade obama ordered it

If so then Congress has a whole new issue

as per Mark Levin who went through this in detail on his Monday or Tuesday show

[bert]

Unstated is the likely hood that the treasury has overdrawn the credit ceiling line. The actual debt exceeds the present ceiling and Lew is grubbing around to assure the ceiling is raised to cover his tracks.

Having no audit, the size of the actual debt is actually unknown. The debt clock merely applies a time related constant adder to a beginning number that has no relation at all to what is done in sessions behind closed doors.

What is borrowed off the books is also unknown. What was stolen is also of unknown magnitude

[Road Warrior ‘04]

There are other strategies the Treasury might also be able to pursue.

How about paying the interest from the revenues received?