View Full Version : "Ultimately, what matters is:

10-12-13, 12:07 PM
"Ultimately, what matters is: What do the people who are buying Treasury bills think?" the president told reporters this week, when discussing measures he could take to end the threat of a historic default on the nation's debt. Even with the U.S. budget deficit down by more than half since 2009 as a percentage of the economy, the Congressional Budget Office says the government this fiscal year will need to borrow an average of almost $11 billion each week.

"You mean to tell me that the success of the program and my re-election hinges on the Federal Reserve and a bunch of f------ bond traders?"

Clinton replied, according to "The Agenda," an account of his economic policy-making by journalist Bob Woodward. http://finance.yahoo.com/news/obama-says-real-boss-default-040100464.html

Mayer Amschel Rothschild quote: Give me control of a nation's money and I care not who makes the laws.

10-12-13, 02:04 PM
A suitor sent me this http://beforeitsnews.com/blogging-citizen-journalism/2013/10/37-states-prepapare-for-the-end-of-the-world-october-17th-2013-2449058.html bad news. Really? End! I think not. It's a new beginning.

10-13-13, 09:18 PM
The US Treasury has repeatedly warned that as soon as October 17 it will be short of cash and forced to default on its obligations, though not saying whether it would skip debt payments or others, like social security payments to retired Americans. http://news.yahoo.com/social-security-raise-among-lowest-years-122713809.html

On the other hand we have this.

There are 9 Updates Pending. Select the tab below to view. http://www.law.cornell.edu/uscode/text/12/635

a) General banking business; use of mails; publication of documents, reports, contracts, etc.; use of assets and allocated or borrowed money; payment of dividends; medium-term financing; dissemination of information; enhancement of medium-term program

(1) There is created a corporation with the name Export-Import Bank of the United States, which shall be an agency of the United States of America.
The objects and purposes of the Bank shall be to aid in financing and to facilitate exports of goods and services, imports, and the exchange of commodities and services between the United States or any of its territories or insular possessions and any foreign country or the agencies or nationals of any such country, and in so doing to contribute to the employment of United States workers.

The Bank’s objective in authorizing loans, guarantees, insurance, and credits shall be to contribute to maintaining or increasing employment of United States workers.

In connection with and in furtherance of its objects and purposes, the bank is authorized and empowered to do a general banking business except that of circulation;

to receive deposits; to purchase, discount, rediscount, sell, and negotiate, with or without its endorsement or guaranty, and to guarantee notes, drafts, checks, bills of exchange, acceptances, including bankers’ acceptances, cable transfers, and other evidences of indebtedness; to guarantee, insure, coinsure, and reinsure against political and credit risks of loss; to purchase, sell, and guarantee securities but not to purchase with its funds any stock in any other corporation except that it may acquire any such stock through the enforcement of any lien or pledge or otherwise to satisfy a previously contracted indebtedness to it; to accept bills and drafts drawn upon it;

to issue letters of credit; to purchase and sell coin, bullion, and exchange; to borrow and to lend money;

to perform any act herein authorized in participation with any other person, including any individual, partnership, corporation, or association; to adopt, alter, and use a corporate seal, which shall be judicially noticed;

to sue and to be sued, to complain and to defend in any court of competent jurisdiction; to represent itself or to contract for representation in all legal and arbitral proceedings outside the United States; and the enumeration of the foregoing powers shall not be deemed to exclude other powers necessary to the achievement of the objects and purposes of the bank.

The bank shall be entitled to the use of the United States mails in the same manner and upon the same conditions as the executive departments of the Government.

The Bank is authorized to publish or arrange for the publication of any documents, reports, contracts, or other material necessary in connection with or in furtherance of its objects and purposes without regard to the provisions of section 501 of title 44 whenever the Bank determines that publication in accordance with the provisions of such section would not be practicable.

Subject to regulations which the Bank shall issue pursuant to section 553 of title 5, the Bank may impose and collect reasonable fees to cover the costs of conferences and seminars sponsored by, and publications provided by, the Bank, and may accept reimbursement for travel and subsistence expenses incurred by a director, officer, or employee of the Bank, in accordance with subchapter I of chapter 57 of title 5.

Amounts received under the preceding sentence shall be credited to the fund which initially paid for such activities and shall be offset against the expenses of the Bank for such activities.

The bank is authorized to use all of its assets and all moneys which have been or may hereafter be allocated to or borrowed by it in the exercise of its functions.
Net earnings of the bank after reasonable provision for possible losses shall be used for payment of dividends on capital stock.

Any such dividends shall be deposited into the Treasury as miscellaneous receipts.

What bank is this?