US govt warns it's running out of cash

[Rigorous Intuition]

<!--EZCODE ITALIC START--><em>Incompetance theory can't account for the bankrupting of America.<br></em><!--EZCODE ITALIC END--><br><!--EZCODE LINK START--><a href="http://news.yahoo.com/s/afp/20051230/ts_afp/uspoliticseconomy">US government warns it's running out of cash</a><!--EZCODE LINK END--><br><br>WASHINGTON (AFP) - Treasury Secretary John Snow has warned that unless Congress raises the national debt limit, the US government will run out of cash to finance its daily work in two months.<br><br>In a letter to Senate leaders Thursday, Snow said the statutory debt limit imposed by Congress of 8.184 trillion dollars would be reached in mid-February and the government would then lose its borrowing power.<br><br>"At that time, unless the debt limit is raised or the<br>Treasury Department takes authorized extraordinary actions, we will be unable to continue to finance government operations," said the letter, seen by AFP.<br><br>Snow warned that even if the Treasury took "all available prudent and legal actions" to avoid breaching the ceiling, "we anticipate that we can finance government operations no longer than mid-March".<br><br>"Accordingly, I am writing to request that Congress raise the statutory debt limit as soon as possible."<br><br>The Republican-led Congress last voted to increase the debt limit in mid-November 2004, despite opposition from Democrats who demanded the free-spending federal government tighten its belt instead.<br> <p></p><i>Edited by: <A HREF=http://p216.ezboard.com/brigorousintuition.showUserPublicProfile?gid=rigorousintuition>Rigorous Intuition</A> at: 12/30/05 3:14 pm<br></i>

[slomo]

Funny how all roads (Israeli ultimatums, oil bourse, etc.) lead to mid-March.<br><br>Beware the ides of March, eh? <p></p><i></i>

[Hugh Manatee Wins]

(A friend just sent me this. I ignore the bible quotes.-HMW)<br><br>'What's the Fed Up To With the Money Supply?'<br> by Robert McHugh 23 Dec 2005<br><!--EZCODE AUTOLINK START--><a href="http://www.safehaven.com/showarticle.cfm?id=4331&pv=1">www.safehaven.com/showart...=4331&pv=1</a><!--EZCODE AUTOLINK END--> <br><br>Is something high-risk going on behind the scenes here? Let's review some facts at the Fed. <br><br>On November 10th, 2005, shortly after appointing Bernanke to replace Greenbackspan, the Fed mysteriously announced with little comment and no palatable justification that they will hide M-3 effective March 2006. M-3 has been the main staple of money supply measurement and transparent disclosure since the Fed was founded back in 1913. It is the key monetary aggregate that includes Fed Repo transactions, that mechanism whereby the Fed increases reserves. <br><br>The date when M-3 will start being hidden also happens to be the exact month that Iran will declare economic war against the U.S. Dollar by trading its oil in Petro-Euros on its new bourse.<br><br> But there is more. The Federal Reserve currently has three vacancies within the 19 top Regional Bank and Board of Governor spots. Why? Part of ongoing wholesale resignations.<br><br>>snip <p></p><i></i>