Skip to comments.Is Something Serious Up at Treasury?
Posted on 01/30/2011 7:21:25 AM PST by FromLori
On Sunday, Treasury Secretary Geithner will have dinner at Treasury with former secretaries of the Treasury.
What's up with this? There was no indication on the weekly Treasury schedule, put out just a day ago, that this dinner was planned. Very unusual.
On top of that, the Treasury put this notice out at 9:00PM on a Saturday night. Sure looks like a rushed meeting to me.
Sounds like the Administration is rounding up support to raise the debt limit the same way they rounded up former Secretaries of State to support the START treaty. Obama knows that there is going to be a huge budget fight coming up.
Banana Ben’s not going to stop intervening unless he is forced to because once he does the SHTF he may now be forced to anyway. I like the way ZH sums it up..
” And this is just the beginning. If there are any further rumors (or confirmed sighting) of protests in Jeddah and elsewhere, regional markets will go bidless, oil will go offerless, GETCO and other NYSE SLPs will go bankrupt in their attempt to keep the stock market alive, and Bernanke will just go, once the entire world realizes that Genocide Ben, which is what ZH has been calling him for quite a while now, is really much more appropriate an appellation for the man who gives a bad name to helicopters.”
Down 220....gold up $30.
I am reminded of the Chris Rock bit, where he adovcated Bullet Control not Gun Control. He was saying we should tax bullets to the point where it cost to much to shoot someone: “Brother, when I am going to come back in four weeks when I can afford a bullet and put a cap in your ass!”
Funny stuff. And yes, he was joking.
Hah - good one!
Geithner is doing exactly what he’s told: Ruin America’s economy before Barry’s term is up. Soooo....
Impeach the bastard Barry - High Crime: Fraud against the American people for lying about eligibility to be POTUS. Once that is documented, down he goes with his whole administration. Boehner steps up. Works for me.
I'll see your Dow down 220 and raise your Gold close to touching $1400. Silver will go back up to $30 probably before lunch.
That is, until the POMO/Plunge Protection Team comes in to dampen silver and boost the Dow.
Time to thump the tub for the lowly 5c piece again. It's melt value is near 7c now. Probably when it gets over 10c they will start to disappear, the govt. will rant about hoarders (illegal to melt 'em) and replace them with a debased coin. That will create a secondary market like silver coins have.
Every time you have a couple of bucks to spare (I know, I know) buy a roll and put 'em in a drawer - all you're risking is 5c each. Since it has an intrinsic value it will increase in this inflationary economy. A $100 face value MIGHT bring $1,000 or more in buying power in the near future
Banana Ben knows that Ron Paul wants to take away his keys to the car. Tea Partiers will stiffen the spines of those Pubbies in the House who will be wavering on doing more bail outs. The message we sent in November was clear: No More Bailouts!
Time for Wall Street to walk the walk on being capitalists. I say "let the markets work", no matter the short term pain that results. Real estate in the US has yet to bottom out, poorly managed banks need to fail, etc. There's a lot of dead wood that needs to be cleaned out.
Blankfein, Dimon, et. al. are not capitalists. In the time honored tradition of Jay Gould, they are "crony capitalists", where they want to rig the rules of the game. The last time around, Hank Paulson was there to do their bidding. Now they've got Geithner in the same spot. Thank God the Tea Partiers are there as a check and balance.
“The New York Branch of the Fed is leveraged more than 80 to 1. Meaning, that a loss of asset value of less than 1.5% would send it into receivership if it were a different kind of institution”
Sounds like a “we need to get our stories straight” meeting.
I don’t doubt the gold price. Sa far as silver goes, we saw quite a squeeze on Friday, and most of the idiots probably had no idea why the price was going up. They will bail, and bail fast on Monday AM. It will be interesting to see where it opens. My guess we will see silver up $2.50 overnight, and brought back down to about another $1.25 at the open. That puts it somewhere in the mid $28’s?
...Buy and hold cash, in the bank and under your mattress...
Youre onto something...I agree
US Federal Reserve Notes lose value daily and banks aren’t paying enough interest to keep up with inflation. Holding Fed Notes only ensures you will lower your future purchasing power. I’ve bought PMs and more stable foreign currencies as quickly as I can with my Federal Reserve Notes.
Here is an interesting article if you are considering buying gold: http://www.projectworldawareness.com/2011/01/will-gold-be-currency-or-will-cash-be-illegal/
Just something to think about. . .
What is your prediction for silver?
It will be up...aside from that I have no idea. That market is so twisted and it moves in synch with Gold one day, and with the whim of the wind the next. It SHOULD be up with gold and oil, but it depends on what the dollar is doing as well.
You don't expect Timmy to shred all those documents by himsef, do you?
I could drink to that!
DOW JONES INDUS. AVG 11,823.70 -166.13 -1.39% 01/28
DJIA INDEX 11,775.00 -169.00 11,938.00 11,964.00 11,760.00 01/28
Looks to me that the DJIA was down 166 on Friday, and the DJIA futures are down and additional 169, but I could be reading this incorrectly.