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***Delaying US bankruptcy???***


easyrider
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OK friends, so we have no agreement on the debt ceiling except to sit and wait to see what is going

to happen between now and August 2nd? This will be very interesting. Have a great weekend.

Me

Treasury To Stop Funding Its Market Manipulation Fund To Delay US Bankruptcy

Update: As Previously Announced, Treasury to Employ Final Extraordinary Measure to Extend U.S. Borrowing Authority Until August 2

WASHINGTON - Today, the U.S. Department of the Treasury released the following statement from Jeffrey Goldstein, Under Secretary for Domestic Finance, regarding the use of the last of the four previously announced measures available to keep our nation under the statutory debt limit, suspension of reinvestment of the Exchange Stabilization Fund.

(OK so the government is suspending this mechanism? Me thinks this will get very interesting and allow for some fluctuation in the system or just maybe some new exhange rate

stabilizations from a newly balanced and adjusted market system maybe. Why else would this need to be targeted for short terms suspension and reboot when other areas could be targeted much more easily to remain under US Corporate spending, like a partial government shutdown of unnecessary offices and grants. Give you just one guess why...Hope this is finally it.)

Here is what it does

Exchange Stabilization Fund

The Treasury Department's Exchange Stabilization Fund (ESF) buys and sells foreign currency to promote exchange rate stability and counter disorderly conditions in the foreign exchange market.

The ESF is used to provide short-term credit to foreign governments and monetary authorities and to hold and administer Special Drawing Rights.

ESF operations are normally conducted through the Federal Reserve Bank of New York in its capacity as fiscal agent for the Treasury Department.

http://www.newyorkfe...oint/fed14.html Follow this link to ge to exhcnage stabalization fund

"Today, as previously announced, the Treasury Department will suspend reinvestment of the Exchange Stabilization Fund, the last of the measures available to keep the nation under the statutory debt limit. In order to prevent a default on the nation's obligations, Congress must enact a timely increase of the debt ceiling."

The U.S. reached the debt limit on May 16, 2011, but the Treasury Department has employed three previous measures to temporarily extend our ability to meet the nation's obligations. Those measures, in order taken, are (1) suspending issuance of State and Local Government Series (SLGS) Treasury securities; (2) declaring a "debt issuance suspension period" of the Civil Service Retirement and Disability Fund (CSRDF); and (3) suspending reinvestment of the Government Securities Investment Fund (G Fund).

As previously stated in the May, June, and July monthly updates, taken altogether, these four extraordinary measures allow the Treasury to extend borrowing authority until August 2, 2011.

http://www.treasury....ges/tg1243.aspx Article link from US Press Releases

END

Un-backed fiat currencies CANNOT survive without the total and complete control of the prices of gold and silver!" Without the Exchange Stabilization Fund the Banksters are hanging out on their own.

www.RoadtoRoota.com is an interesting web site for information.. Check it out

Edited by easyrider
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I believe the theory is that our govt. is holding dinar and that the President is holding out on the debt talks until he gets what he wants. Also, as some theorize, O wants to take some credit for "saving us" from ourselves... the Knight in shining Armour sort of thing. If that were true then the RV is basically being held up by our govt. itself, or the Federal Reserve Bankers (which are a group of independent world bankers and "not" part of our government). So goes the theory. Not sure either way, but that seems to be the buzz. Thanks for posting Easy. GO RV Already Baby!!!cool.gif

Edited by RodandStaff
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Central banks of countries buy and sell their currency on the Forex market to either increase or decrease its value depending on the monetary needs of the country. I believe that this could possibly mean you will see larger fluctuation in the exchange rates on the Forex markets. This creates opportunities for the Forex traders.

Thanks for the post Easy!

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I believe the theory is that our govt. is holding dinar and that the President is holding out on the debt talks until he gets what he wants. Also, as some theorize, O wants to take some credit for "saving us" from ourselves... the Knight in shining Armour sort of thing. If that were true then the RV is basically being held up by our govt. itself, or the Federal Reserve Bankers (which are a group of independent world bankers and "not" part of our government). So goes the theory. Not sure either way, but that seems to be the buzz. Thanks for posting Easy. GO RV Already Baby!!!cool.gif

I tend to agree with you on that. I'm sure there's more more to it than they want us to know.

Easy, Thanks for the post.

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WE ARE ALREADY BK... WAKE UP PEOPLE...

==================================

James Traficant's U.S. Bankruptcy Speech

The Bankruptcy of The United States

United States Congressional Record, March 17, 1993 Vol. 33, page H-1303

Speaker-Rep. James Traficant, Jr. (Ohio) addressing the House:

"Mr. Speaker, we are here now in chapter 11. Members of Congress are official trustees presiding over the greatest reorganization of any Bankrupt entity in world history, the U.S. Government. We are setting forth hopefully, a blueprint for our future. There are some who say it is a coroner’s report that will lead to our demise.

It is an established fact that the United States Federal Government has been dissolved by the Emergency Banking Act, March 9, 1933, 48 Stat. 1, Public Law 89-719; declared by President Roosevelt, being bankrupt and insolvent. H.J.R. 192, 73rd Congress m session June 5, 1933 - Joint Resolution To Suspend The Gold Standard and Abrogate The Gold Clause dissolved the Sovereign Authority of the United States and the official capacities of all United States Governmental Offices, Officers, and Departments and is further evidence that the United States Federal Government exists today in name only.

http://www.truthwinds.com/siterun_data/peace_freedom/patriots_and_protesters/news.php?q=1240607530

=============================================================

Why do you think we use "debt instruments" and not real dollars?

Your Gov't knows this, hides this fact, because it is all a financial scam, crime, delussion, to keep the rich rich and the poor poor...

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H.J.R. 192, 73rd Congress m session June 5, 1933 - Joint Resolution To Suspend The Gold Standard and Abrogate The Gold Clause dissolved the Sovereign Authority of the United States and the official capacities of all United States Governmental Offices, Officers, and Departments and is further evidence that the United States Federal Government exists today in name only.

Why do you think we use "debt instruments" and not real dollars?

Your Gov't knows this, hides this fact, because it is all a financial scam, crime, delussion, to keep the rich rich and the poor poor...

I can't believe the conspiracy theorists that are coming out of the woodwork. The US is not bankrupt and never will be. The US will not default on it's loans, but will take longer than usual to pay them back, as if it didn't take long enough. While we are a spending country, I don't think the RV is a forever fix. Like I once told my parents, if you don't learn to budget correctly, you will always spend too much. Credit is not a solution for anyone. Credit cards were the worst invention ever. If we keep spending more than we have (via unlimited credit), we are going to find ourselves back in trouble after paying off our debt post RV.

I have already told my family that I would pay off their current debt if they sit down with me and establish a working budget. It is mandatory that they pay cash for everything moving forward. Due to this requirement, they must shred all credit cards. My sister has opted out as she can't see shredding her credit cards. Mind you, she makes about $18k a year and her husband makes about $43k per year. If anyone needs a budget, it's her.

Moral of the story is, plan for what you will spend and spend only what you need. If we could do this as a country, we'd all be much wealthier.

GO RV!

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I can't believe the conspiracy theorists that are coming out of the woodwork. The US is not bankrupt and never will be. The US will not default on it's loans, but will take longer than usual to pay them back, as if it didn't take long enough. While we are a spending country, I don't think the RV is a forever fix. Like I once told my parents, if you don't learn to budget correctly, you will always spend too much. Credit is not a solution for anyone. Credit cards were the worst invention ever. If we keep spending more than we have (via unlimited credit), we are going to find ourselves back in trouble after paying off our debt post RV.

I have already told my family that I would pay off their current debt if they sit down with me and establish a working budget. It is mandatory that they pay cash for everything moving forward. Due to this requirement, they must shred all credit cards. My sister has opted out as she can't see shredding her credit cards. Mind you, she makes about $18k a year and her husband makes about $43k per year. If anyone needs a budget, it's her.

Moral of the story is, plan for what you will spend and spend only what you need. If we could do this as a country, we'd all be much wealthier.

GO RV!

I agree 100%!!! GO RV

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