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US Treasury Quietly Ordering "Surival Kits" For US Bankers?
thegente posted a topic in World Economy
http://www.zerohedge.com/news/2014-12-10/why-us-treasury-quietly-ordering-surival-kits-us-bankers CLICK ON THE LINK TO SEE MORE, COULDN'T BRING IT ALL OVER Why Is The US Treasury Quietly Ordering "Surival Kits" For US Bankers? 12/10/2014 15:32 -0500 The Department of Treasury is spending $200,000 on survival kits for all of its employees who oversee the federal banking system, according to a new solicitation. As FreeBeacon reports, survival kits will be delivered to every major bank in the United States and includes a solar blanket, food bar, water-purification tablets, and dust mask (among other things). The question, obviously, is just what do they know that the rest of us don't? As Free Beacon reports, The Department of Treasury is seeking to order survival kits for all of its employees who oversee the federal banking system, according to a new solicitation. The emergency supplies would be for every employee at the Office of the Comptroller of the Currency (OCC), which conducts on-site reviews of banks throughout the country. The survival kit includes everything from water purification tablets to solar blankets. The government is willing to spend up to $200,000 on the kits, according to the solicitation released on Dec. 4. The survival kits must come in a fanny-pack or backpack that can fit all of the items, including a 33-piece personal first aid kit with “decongestant tablets,” a variety of bandages, and medicines. The kits must also include a “reusable solar blanket” 52 by 84 inches long, a 2,400-calorie food bar, “50 water purification tablets,” a “dust mask,” “one-size fits all poncho with hood,” a rechargeable lantern with built-in radio, and an “Air-Aid emergency mask” for protection against airborne viruses. Survival kits will be delivered to every major bank in the United States including Bank of America, American Express Bank, BMO Financial Corp., Capitol One Financial Corporation, Citigroup, Inc., JPMorgan Chase & Company, and Wells Fargo. ... The agency has roughly 3,814 employees, each of which would receive a survival kit. The staff includes “bank examiners” who provide “sustained supervision” of major banks in the United States. ... It is not clear why the Treasury Department is ordering the kits. * * * One can only imagine what the Treasury department is thinking will happen in the near-future... while it is indeed good to be prepared, the timing as domestic social unrest ramps up, the driver of the recovery is crashing, and the Fed has stepped away is 'odd' to say the least. * * * Full OCC RFP below: http://www.scribd.com/doc/249781337/Survival-Kits-RFP- 22 replies
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U.S. to pay down debt for first time in six years By Greg Robb, MarketWatch April 29, 2013, 4:05 p.m. EDT http://www.marketwatch.com/story/us-to-pay-off-debt-for-first-time-in-six-years-2013-04-29?dist=countdown WASHINGTON (MarketWatch) — In another sign of an improving deficit picture, the Treasury on Monday said it expects to pay off debt in the current quarter for the first time in six years. In a statement, Treasury said it now expects to pay off $35 billion of debt in the April-to-June quarter, compared to an earlier projection, given in February, that it would have to borrow $103 billion. This will be the first quarter that Treasury has paid off debt since April-to-June period 2007. The payoff “is emblematic of the turn in budget finances from horrible, to grim, on their way to steadily better,” said Eric Green, global head of rates and foreign-exchange research at TD Securities. Treasurys on the longer end of the yield curve weakened slightly after the news. The 10-year note 10_YEAR +0.06% was yield was up about a half a basis point up on the day at 1.668%, while the 30-year bond yield 30_YEAR +0.07% climbed more than 1 basis point on the day to 2.876%. Read MarketWatch’s bond report. In a statement, Treasury said the changed projection related to higher receipts and lower outlays, but gave no details. The agency also said it expects to have more cash on hand than was previously assumed. Congress allowed a payroll tax cut to expire at the beginning of the year. This tax hike and continued growth has put more money into the government’s coffers. The sequester, in effect since March, has helped cut outlays. For the fourth fiscal quarter, which begins in July, the government expects to borrow $223 billion. This assumes quarter-end cash balances of $75 billion on June 30 and $80 billion on September 30. The Treasury will announce details of its quarterly refunding on Wednesday. Green said Treasury is expected to hold the refunding auction sizes steady at $32 billion three-year notes, $24 billion of ten-year notes, and $16 billion in 30-year bonds. “But if there is a surprise, we know where it leans,” Green said. Over the next two years, the Treasury offering of coupon securities could be $250-$325 billion lower than it has been, Green estimated. Last week, as a result of the improved outlook for the deficit, the Bipartisan Policy Center pushed back the estimated date that the U.S. might hit its debt ceiling to far as mid-to-late September from the previous estimate of late August to mid-September. Treasury Secretary Jacob Lew said last week he could not forecast the exact date when Congress has to raise the ceiling to avoid a default. Republicans in Congress want to use the debt ceiling to seek spending cuts from President Barack Obama. Greg Robb is a senior reporter for MarketWatch in Washington. Follow him on Twitter @grobb2000.