21 Days: Treasury Says Debt Has Been Frozen at $18,112,975,000,000

The U.S. Treasury has apparently frozen the National Debt limit by using what they are calling "extraordinary measures".

The Treasury notified Congress.

The debt limit ran out in mid-March, and the government has suspended issuing securities (debt loans) that help fund government.

This issue seems kind of quiet considering the magnitude.

Does this mean the U.S. is secretly in bankruptcy proceedings?

No wonder we are being sidetracked with meaningless issues and tangents.


21 Days: Treasury Says Debt Has Been Frozen at $18,112,975,000,000

According to the Daily Treasury Statement for Friday, April 3, which was published by the U.S. Treasury on Monday, April 6, that portion of the federal debt that is subject to a legal limit set by Congress closed the day at $18,112,975,000,000—for the 21st day in a row.

$18,112,975,000,000 is about $25 million below the current legal debt limit of $18,113,000,080,959.35.

The debt first hit $18,112,975,000,000, according to the Daily Treasury Statement, on March 13, which was the day Treasury Secretary Jacob Lew sent a letter to House Speaker John Boehner and other congressional leaders saying that he was planning to declare a “debt issuance suspension period.”

Daily Treasury Statements

Hmmm

Something is Amok

a reply to: xuenchen
Seems to me the Federal Reserve has a money problem not the United States. We can always change our currency.

a reply to: xuenchen

I dont know...I think I have seen this before...note the dates and headlines...not saying the debt is good....but I doubt the veracity of your thesis:
100 Days: Treasury Has Kept Debt Frozen at ... - CNS News
cnsnews.com › News
Cybercast News Service
Aug 26, 2013 - (CNSNews.com) - The Treasury Department's latest official daily accounting of the U.S. government's receipts, expenditures and ...
Treasury: Debt Has Been Exactly $16699396000000.00 for ...
cnsnews.com › News
Cybercast News Service
Jul 15, 2013 - That means that for 56 straight days the federal debt has remained ... past 56 days, the net value of U.S. Treasury Securities circulating in the public has ...... Having apparently gone temporarily insane and forgotten who their ...
150 Straight Days: Treasury Says Debt Stood Still at ...
cnsnews.com › News
Cybercast News Service
Oct 16, 2013 - Every business day since May 17, the U.S. Treasury has published a daily statement claiming that the federal debt ... What is so hard for people to connect $3 Trillion dollars worth of spending, to the "alleged, ha ha" frozen debt of $16.7 Trillion.... it comes out to .... Apparently for left wingers it doesn't matter.
Unheard of: Debt stuck at $16.7 trillion for 109 days!

originally posted by: Enochstask
a reply to: xuenchen
Seems to me the Federal Reserve has a money problem not the United States. We can always change our currency.

Exactly. That if the FEDs debt not mine.

It is their currency.

I say we just switch to the previous metals standard and begin issuing new currency.

At the same time, we honor debts to other nations but tell the FED and their privste anonymous share holders to stuff it, it isn't like any of the rest of us can ever get in on the scam.

Problem solved in my opinion.

Guess it's time to convert any USD you might have into a more stable liquid asset.

What to buy? More bullets?

a reply to: xuenchen

You know I have gotten to the conclusion that when it comes to the debt ceiling is nothing but a meaningless term that holds no power but when it is used as a political tool.

Our currency no longer since the 70s backed by gold but oil changed all that but politically is still been used, oil in the US is always flowing and that is enough for the nation not to go bankrupt, because if the currency wasn't backed by oil we will have been bankrupted decades ago.

I wonder why Obama isn't squawking about this?

Hmmm.

Will this eventually affect social programs?

Something about this just seems so dishonest. They have developed a lot of ways to twist reality beyond reason. Now, the debt did not stop growing, just their recording of the debt. I bet that interest is still being paid to China but maybe not to Social Security whom they owe a lot of money.

Most of the debt is a farce, Japan buys US debt whilst US buys Japanese debt so everyone in reality is just printing fiat to deflate the wealth of their middle class. They now use “extraordinary measures” laws to avoid the so called default, tapping into Civil Service Retirement and Disability pensions which will see them through to November.

link

Ooooo

Hope the USD drops in value before june for my holiday

GBP to USD is already good!

a reply to: glend

I believe it, you know why? because what its call the Quantitative easing used very much here in the US to keep banks afloat originated in Japan, they were the first to start that same practice.



But in the other hand China has gone far and beyond to buy precious mineral and resources for a long time to back their currency.

a reply to: lordcomac

When in doubt....buy ammo!

The sooner the fed Ponzi scheme implodes the better.

Is it possible to have johnwicks idea happen? Can you imagine the next POTUS saying.....yeah, sorry fed, we have our own BACKED currency now, controlled by the Congress.

originally posted by: stosh64
a reply to: lordcomac

When in doubt....buy ammo!

The sooner the fed Ponzi scheme implodes the better.

Is it possible to have johnwicks idea happen? Can you imagine the next POTUS saying.....yeah, sorry fed, we have our own BACKED currency now, controlled by the Congress.

Yes kennedy started doing it before he was killed.

a reply to: johnwick

I was thinking that too.

The last time we had a real President, and not a talking head for the banksters.

a reply to: xuenchen

Not in the midst of a secret bankruptcy proceeding. This same thing happened in 2013, and the debt issuance suspension was in place for 150 days, until Congress reached agreement on the (then) new debt ceiling.

In other words, our government has maxed out its taxpayer-funded "credit card stack" for the time being, until such time as either it gets a credit limit increase, or actually pays down some principal. I won't be holding my breath waiting for the latter action to happen.

To further the analogy to the consumer experience, the government can play around with the amounts of debt for each of the "card accounts" in the stack... it can pay down some principal on account A with funds, and get more credit on account B, as long as the TOTAL amount of debt doesn't surpass the limit set by legislation.

According to the article, the only thing that will suffer in the immediate term is scheduled contributions to the retirement plans/pensions of government employees. (Go figure.) The government cannot, because of the debt ceiling, take out more debt to make scheduled contributions to those accounts until the impasse is resolved. (It strikes me as ludicrous that those obligations can be considered "funded" with debt in the first place, but I digress). The existing balances will still be there and the balances will fluctuate with the market based on whatever the principal amounts are invested in.

That is how I understand the state of things, based on the article. I would have to dive into the legislation itself and probably consult the Oracle at Delphi to be completely satisfied that there isn't some other angle. That's just me, though.

a reply to: marg6043

Yes agree they do like they are following Japans model. Last year Belgium become the third largest buyer of Treasury bonds by adding $200 billion to their total of $340 billion. But Belgiums GDP is only $419 billion so the BS has become ludicrous.

I found it interesting that china stopped announcing its gold reserves soon after Obama was trying to make a deals with them in 2008. I suspect if fort knox had any gold, much of it was transferred to China in 2008 as a deal not to dump USD (not indefinitely). If China announces tomorrow that they have 10,000 tonnes of gold in reserves a lot of questions need be asked.

Thats it hmm i expected more of a debt.. its the begining of slow collapse this is one thats going to hit people unexpectedly a reply to: xuenchen

a reply to: crazyewok

How self centered of you.

a reply to: xuenchen

This'll be good for it's own wing in the Obama Library.

originally posted by: Enochstask
a reply to: crazyewok

How self centered of you.

You got yoruselfs into this debt mess by constantly voting in successive incompetent governments...