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Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline

 
StellaBlue
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08/02/2021 02:15 PM
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Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline
The Treasury Department will begin conducting emergency cash-conservation steps on Monday to avoid busting the federal borrowing limit after a two-year suspension of the debt ceiling expired at the end of July.

Economists say those so-called extraordinary measures will allow Treasury to pay off the government’s bills without floating new debt for two to three months. After that, Congress will need to either raise or suspend the borrowing limit or risk the U.S. defaulting on its obligations.

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Anonymous Coward
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08/02/2021 02:20 PM
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Re: Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline
most of the people aren't aware that since Dollar is the World's Reserve Currency, that all the Global countries are doing business in this currency

so when the Dollar goes tits up and USA goes bankrupted, that will drag the entire World into the same shit pithole

the Great Depression of 1930s will be child's play compared to what's to come

and since Russia and China are smart countries, are ditching Dollar in record time and buying more precious metals

ultimately, when they do ditch it, you can expect WW3, but started from USA and not the rest of countries, for the above exact said reasons
General Thade

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08/02/2021 02:21 PM
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Re: Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline
Someone explain this please for the financially uneducated.
Anonymous Coward
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08/02/2021 02:23 PM
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Re: Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline
most of the people aren't aware that since Dollar is the World's Reserve Currency, that all the Global countries are doing business in this currency

so when the Dollar goes tits up and USA goes bankrupted, that will drag the entire World into the same shit pithole
 Quoting: Anonymous Coward 62887824

Mostly true but not 100% Russia, China, and their satellites will be fine as they have decoupled from the dollar. China, specifically is set up to have the yuan become the worlds new reserve currency.
Anonymous Coward
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08/02/2021 02:29 PM
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Re: Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline
This is not news they've got months to raise it and they always do.
Anonymous Coward
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08/02/2021 02:51 PM
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Re: Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline
Hey USTREASGOVPHARMACORP:


PRINT OUR FUCKING TAX MONEY YOU GODDAMMED THEIVES!



Signed With Contempt,

Your TRUE Masters - The Citizens of the (non-corporate) United States of America.
Anonymous Coward
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08/02/2021 02:53 PM
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Re: Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline
With the US Federal Debt at over 28.5 Trillion $ we are in no danger of defaulting.
Anonymous Coward
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08/02/2021 02:54 PM
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Re: Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline
If the dollar were to crash, I'm sure Saudi and the rest of the oil producers would start accepting other currencies. It wouldn't cripple the rest of the world unless they rely on USA for any import/exports..ie food.
Anonymous Coward
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08/02/2021 03:21 PM
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Re: Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline
Someone explain this please for the financially uneducated.
 Quoting: General Thade


They are about to flush the toilet.
Swingline

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08/02/2021 03:22 PM

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Re: Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline
Stocks up!

Crazy...
Anonymous Coward
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08/02/2021 03:23 PM
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Re: Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline
prime going sky high

got credit card debt?

Ohhh-- poor you and i do mean "poor"

it will be 35%
SaintIn

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08/02/2021 03:35 PM
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Re: Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline
most of the people aren't aware that since Dollar is the World's Reserve Currency, that all the Global countries are doing business in this currency

so when the Dollar goes tits up and USA goes bankrupted, that will drag the entire World into the same shit pithole

the Great Depression of 1930s will be child's play compared to what's to come

and since Russia and China are smart countries, are ditching Dollar in record time and buying more precious metals

ultimately, when they do ditch it, you can expect WW3, but started from USA and not the rest of countries, for the above exact said reasons
 Quoting: Anonymous Coward 62887824


I definitely know someone was trying to strip the population of their gold about what was it, 12 years ago? Suddenly on every corner, you saw cash for gold, cash for gold, cash for gold. I don't see those signs or stores anymore like I used to, but for about a year or 2, they were definitely getting everyone to bring their gold in. Myself and many people I know got on the bandwagon (I had very little, later found out I was entirely ROBBED). Where did all that gold go, exactly? Someone was stockpiling it somewhere...
Cuz' I'm a WOMAN...

*SaintInWaiting
Anonymous Coward
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08/02/2021 03:37 PM
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Re: Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline
is the fed running out of paper to print on?
Anonymous Coward
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08/02/2021 03:41 PM
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Re: Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline
This is by design. Our traitors in congress blew the doors off the budget, smashed the piggy bank,spent like drunken sailors and fattened up their purses.

Now its time to make the populace suffer, turn off the money.

Watch the stock market. It going

D

O

W

N

See you at the bottom, hope you got your ammo.

(gg)
Nobuddy
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08/02/2021 03:45 PM
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Re: Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline
Cuz.. like yeah, when 13-trillion dollars doesn't quite get'er done, they didn't just 'miss' the debt ceiling they blew a big'ol double barreled sloppy phuckin' hole right through it.

Crazy kids.. remember one man's ceiling is another man's floor, just sayin'.



Strange daze indeed.. blink
Anonymous Coward
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08/02/2021 03:48 PM
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Re: Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline
too busy spending money on the bullshit "infrastructure" deal to be bothered with the day to day business and they aren't even getting a wall out of it.
Anonymous Coward
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08/02/2021 03:52 PM
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Re: Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline
Buy another printing press.
Anonymous Coward
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08/02/2021 03:52 PM
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Re: Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline
Someone explain this please for the financially uneducated.
 Quoting: General Thade

The United States has been bankrupt for a long time first we couldn't pay our debts to the king of England for fighting the revolutionary war that time they mortgage the land that's why you pay a property tax the second time the country went bankrupt they instituted the social security act the people with social security numbers are surety for the national debt.

So essentially they mortgaged all of your labor via the taxing ability they could put on it when you join social security.

Now that's not enough to pay all the interest owed to the creditors.

If they decide to foreclose on the rest of the USA people with social security numbers have pledged all of their assets to the national debt.
Anonymous Coward
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08/02/2021 03:55 PM
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Re: Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline
Someone explain this please for the financially uneducated.
 Quoting: General Thade

The United States has been bankrupt for a long time first we couldn't pay our debts to the king of England for fighting the revolutionary war that time they mortgage the land that's why you pay a property tax the second time the country went bankrupt they instituted the social security act the people with social security numbers are surety for the national debt.

So essentially they mortgaged all of your labor via the taxing ability they could put on it when you join social security.

Now that's not enough to pay all the interest owed to the creditors.

If they decide to foreclose on the rest of the USA people with social security numbers have pledged all of their assets to the national debt.

 Quoting: Anonymous Coward 78338934


Listen up.
Anonymous Coward
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08/02/2021 03:58 PM
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Re: Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline
most of the people aren't aware that since Dollar is the World's Reserve Currency, that all the Global countries are doing business in this currency

so when the Dollar goes tits up and USA goes bankrupted, that will drag the entire World into the same shit pithole

the Great Depression of 1930s will be child's play compared to what's to come

and since Russia and China are smart countries, are ditching Dollar in record time and buying more precious metals

ultimately, when they do ditch it, you can expect WW3, but started from USA and not the rest of countries, for the above exact said reasons
 Quoting: Anonymous Coward 62887824


BS. Most countries have or getting ready to ditch the worthless dollar. USA is fukd
Anonymous Coward
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08/02/2021 04:01 PM
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Re: Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline
Stocks up!

Crazy...
 Quoting: Swingline



Everything - everything - has been Dominion-ized, from elections to the stock market.
Dalek Uno
User ID: 80691743
Germany
08/02/2021 04:02 PM
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Re: Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline
most of the people aren't aware that since Dollar is the World's Reserve Currency, that all the Global countries are doing business in this currency

so when the Dollar goes tits up and USA goes bankrupted, that will drag the entire World into the same shit pithole

the Great Depression of 1930s will be child's play compared to what's to come

and since Russia and China are smart countries, are ditching Dollar in record time and buying more precious metals

ultimately, when they do ditch it, you can expect WW3, but started from USA and not the rest of countries, for the above exact said reasons
 Quoting: Anonymous Coward 62887824


BS. Most countries have or getting ready to ditch the worthless dollar. USA is fukd
 Quoting: Anonymous Coward 73946650

only chance they have is to crash the Euro so money starts flooding back into the dollar
Dalek Uno
User ID: 80691743
Germany
08/02/2021 04:02 PM
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Re: Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline
most of the people aren't aware that since Dollar is the World's Reserve Currency, that all the Global countries are doing business in this currency

so when the Dollar goes tits up and USA goes bankrupted, that will drag the entire World into the same shit pithole

the Great Depression of 1930s will be child's play compared to what's to come

and since Russia and China are smart countries, are ditching Dollar in record time and buying more precious metals

ultimately, when they do ditch it, you can expect WW3, but started from USA and not the rest of countries, for the above exact said reasons
 Quoting: Anonymous Coward 62887824


BS. Most countries have or getting ready to ditch the worthless dollar. USA is fukd
 Quoting: Anonymous Coward 73946650

only chance they have is to crash the Euro so money starts flooding back into the dollar
KipKat

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08/02/2021 04:03 PM

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Re: Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline
Someone explain this please for the financially uneducated.
 Quoting: General Thade


They are going to kick the can down the road again, but they first will stomp on it a couple times.
kkwapper
Anonymous Coward
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Ukraine
08/02/2021 04:04 PM
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Re: Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline
Someone explain this please for the financially uneducated.
 Quoting: General Thade


It means they Congress blew their wad on the fake scamdemic, and now the US is bankrupt.

Notice how things have been gradually getting more and more expensive the last 6-8 months?

That's called inflation, soon to be hyper-inflation.

The dollar is becoming worthless.

It's what happens to a country when their politicians spend spend spend...ask Venezuela or Zimbabwe
Adjudicator
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08/02/2021 04:05 PM

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Re: Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline
Someone explain this please for the financially uneducated.
 Quoting: General Thade


They are about to flush the toilet.
 Quoting: Anonymous Coward 78334071


This1
hightable1
Anonymous Coward
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08/02/2021 04:09 PM
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Re: Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline
they have 6-weeks to get the "Homes" in order. To apply the finishing touches to their "safe spaces" before the default.

Name one government in history that gave the people a heads up on financial collapse?
Name just one.
oniongrass

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08/02/2021 04:10 PM

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Re: Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline
Someone explain this please for the financially uneducated.
 Quoting: General Thade


When you're in debt and can't make the payments, you can borrow more to make the payments, but of course it means future payments will be even bigger.

Well maybe you can't, because after a while a bank wouldn't lend to someone who is mishandling their life this way.

But the US can. It directs the Fed to lend it the money, which the Fed then creates and lends. The Fed does as it's told (and it can also trade for its own account, which some people worry about.) Thus the Fed allows us to expand debt-based money infinitely.

We failed to pass the internal law that would allow us to direct the Fed to lend us the money to make the next round of payments on our current debt. That's what just happened.

**********

We were starting to pay down debt during the Clinton administration, but then Clinton went on TV (this speech is impossible to find but I remember watching it) and said he'd start borrowing more because the world depended on being able to invest in US Treasury 30 year bonds, and if we're not borrowing we're not issuing bonds.

He actually said that. My mouth was hanging open. And ever since then, the debt has mushroomed to unimaginable numbers. Now that I see how weird things have gotten 25 years later, I wonder if the intent was to get us into unpayable debt with such a level of craziness that nobody even knows how much we owe anymore.

Last Edited by oniongrass on 08/02/2021 04:11 PM
.
DON'T VAX, PROPHYLAX!

____________

There is no anger in Me: If one offers Me thorns and thistles, I will march to battle against him, And set all of them on fire.

But if he holds fast to My refuge, He makes Me his friend; He makes Me his friend. (Isaiah 27:4-5)
Anonymous Coward
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08/02/2021 04:13 PM
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Re: Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline
This is not news they've got months to raise it and they always do.
 Quoting: Anonymous Coward 80246342


Since when has the debt ceiling EVER mattered??? It is 'arbitrary measure' that they routinely blow through. Our national debt wasn't even a campaign issue in the last election. This country is bankrupt thanks to the shysters in both parties - we are absolutely on our own; nobody is coming to save us!
Dalek Uno
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08/02/2021 04:13 PM
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Re: Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline
Someone explain this please for the financially uneducated.
 Quoting: General Thade


When you're in debt and can't make the payments, you can borrow more to make the payments, but of course it means future payments will be even bigger.

Well maybe you can't, because after a while a bank wouldn't lend to someone who is mishandling their life this way.

But the US can. It directs the Fed to lend it the money, which the Fed then creates and lends. The Fed does as it's told (and it can also trade for its own account, which some people worry about.) Thus the Fed allows us to expand debt-based money infinitely.

We failed to pass the internal law that would allow us to direct the Fed to lend us the money to make the next round of payments on our current debt. That's what just happened.

**********

We were starting to pay down debt during the Clinton administration, but then Clinton went on TV (this speech is impossible to find but I remember watching it) and said he'd start borrowing more because the world depended on being able to invest in US Treasury 30 year bonds, and if we're not borrowing we're not issuing bonds.

He actually said that. My mouth was hanging open. And ever since then, the debt has mushroomed to unimaginable numbers. Now that I see how weird things have gotten 25 years later, I wonder if the intent was to get us into unpayable debt with such a level of craziness that nobody even knows how much we owe anymore.
 Quoting: oniongrass

I haven't checked this, but with the increasing share of internal lenders (FED and Social Security) the danger of default grows, since defaulting on international debts would have far larger repercussions.
Dalek Uno
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08/02/2021 04:13 PM
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Re: Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline
Someone explain this please for the financially uneducated.
 Quoting: General Thade


When you're in debt and can't make the payments, you can borrow more to make the payments, but of course it means future payments will be even bigger.

Well maybe you can't, because after a while a bank wouldn't lend to someone who is mishandling their life this way.

But the US can. It directs the Fed to lend it the money, which the Fed then creates and lends. The Fed does as it's told (and it can also trade for its own account, which some people worry about.) Thus the Fed allows us to expand debt-based money infinitely.

We failed to pass the internal law that would allow us to direct the Fed to lend us the money to make the next round of payments on our current debt. That's what just happened.

**********

We were starting to pay down debt during the Clinton administration, but then Clinton went on TV (this speech is impossible to find but I remember watching it) and said he'd start borrowing more because the world depended on being able to invest in US Treasury 30 year bonds, and if we're not borrowing we're not issuing bonds.

He actually said that. My mouth was hanging open. And ever since then, the debt has mushroomed to unimaginable numbers. Now that I see how weird things have gotten 25 years later, I wonder if the intent was to get us into unpayable debt with such a level of craziness that nobody even knows how much we owe anymore.
 Quoting: oniongrass

I haven't checked this, but with the increasing share of internal lenders (FED and Social Security) the danger of default grows, since defaulting on international debts would have far larger repercussions.





GLP