:: Tuesday, March 09, 2010

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Treasury Secretary Timothy Geithner said the country’s debt rating is not at risk because of the trillions of dollars of government spending to shore up the economy.
Asked on ABC’s “This Week” Sunday whether the government would lose its triple AAA sovereign debt rating, Geithner said: “Absolutely not and that will never happen to this country.”
Geithner [...]

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From Bloomberg:
Treasury Secretary Timothy F. Geithner said the U.S. is in no danger of losing its Aaa debt rating even though the Obama administration has predicted a $1.6 trillion budget deficit in 2010.
“Absolutely not,” Geithner said, when asked in an ABC News interview broadcast today whether a downgrade is a concern. “That will never happen [...]

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The Great Credit Contraction grinds on as the system continues evaporating.  People are realizing the true nature of the worldwide fiat currency and fractional reserve banking system that is built on a fraudulent premise and has become a Ponzi scam of epic proportions, the largest in the history of the world.  Capital, both real and [...]

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The Federal Government is running massive budget deficits which is creating a massive supply of Treasuries.  But there is no demand and so the Federal Reserve is monetizing the debt.  But these colored coupons merely amount to certificates of confiscation.  Where will Congress find the capital to buy Treasuries?  Most likely, your retirement account and screwing [...]

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Political risk is increasing and predictably the Treasury bubble has been bursting.  There are major machinations going on in the bond market which will significantly affect you.
On 3 January 2009 I wrote United States Treasuries Are The Biggest Bubble Of All and on 18 January 2009 followed it up with Why And How The Treasury [...]

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The rout—at the time, a welcome one—began in commodities, where historic high prices drove up inflation around the world. As prices for crude oil, copper, gold, and multiple foodstuffs began falling in mid-July, consumers as far apart as China and Chattanooga breathed sighs of relief.
Unfortunately, commodities were followed by global stock markets. As the summer [...]

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