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Thread: The US Treasury hit its $14.29 trillion legal limit on borrowing

  1. #1
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    Default The US Treasury hit its $14.29 trillion legal limit on borrowing

    Nobody noticed this?
    Yah, maybe local recent news more captivating.

  2. #2
    Senior Member melvin's Avatar
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    Default Re: The US Treasury hit its $14.29 trillion legal limit on borrowing

    Huh? thought they no limit?

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    Senior Member giantcanopy's Avatar
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    Default Re: The US Treasury hit its $14.29 trillion legal limit on borrowing

    Quote Originally Posted by melvin View Post
    Huh? thought they no limit?
    I also thought so ..

    Anyhow maybe they will probably revise the "legal" limit upward legally

  4. #4
    Senior Member raydio's Avatar
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    Default Re: The US Treasury hit its $14.29 trillion legal limit on borrowing

    Wish my credit card had this limit. Also wish I had the legal right to print money like they do!

  5. #5
    Senior Member melvin's Avatar
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    Default Re: The US Treasury hit its $14.29 trillion legal limit on borrowing

    I only wish for 0.01% of that amount enough

  6. #6
    Senior Member giantcanopy's Avatar
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    Default Re: The US Treasury hit its $14.29 trillion legal limit on borrowing

    Quote Originally Posted by raydio View Post
    Wish my credit card had this limit. Also wish I had the legal right to print money like they do!
    Slap a 25% credit card interest for late payment!

  7. #7
    Member Irvine's Avatar
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    Default Re: The US Treasury hit its $14.29 trillion legal limit on borrowing

    hmmm.. i had always been wondering... from whom did they borrow this amount of money from?

    maybe it was stated in the papers somewhere in the past (online or newspapers etc) but i didnt seem to notice at all. anyone knows?
    Google is your friend. Make use of it.

  8. #8
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    Default Re: The US Treasury hit its $14.29 trillion legal limit on borrowing

    See. It is not over. Greece and Portugal still in trouble.

    http://www.youtube.com/watch?v=C7Xu3xUkpEE

    http://www.youtube.com/watch?v=sjIQK...eature=related

    After these episodes, apparently he was punished indirectly.

    Another view
    http://www.youtube.com/watch?v=GNFb6...eature=related
    Last edited by ricohflex; 28th May 2011 at 12:18 AM.

  9. #9
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    Default Re: The US Treasury hit its $14.29 trillion legal limit on borrowing

    In Straits Times news paper front page today.

    Bad news from US sparks market panic

    http://www.straitstimes.com/Breaking...ry_675702.html

    Told you it is not over.

    Saving AIG may not be the best idea after all. Should have let it die from its own excesses.
    http://www.channelnewsasia.com/stori...381116/1/.html
    Printing a Trillion dollars not backed by gold? Hmm.... (they left the gold standard in 1971 after Nixon stopped it)
    Last edited by ricohflex; 3rd June 2011 at 04:24 PM.

  10. #10

    Default Re: The US Treasury hit its $14.29 trillion legal limit on borrowing

    Quote Originally Posted by Irvine View Post
    hmmm.. i had always been wondering... from whom did they borrow this amount of money from?

    maybe it was stated in the papers somewhere in the past (online or newspapers etc) but i didnt seem to notice at all. anyone knows?
    1 way will be issuing short term or long term bonds. Once maturity date is up, the government has an obligation to honour the payment to those who bought it.
    Nowadays, the market instrument is getting very innovative yet sophiscated. There could be many more ways to borrow.

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