"“We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” "


Chinese premier Wen Jiabao 12th March 2009


""We have a financial system that is run by private shareholders, managed by private institutions, and we'd like to do our best to preserve that system."


Timothy Geithner US Secretary of the Treasury, previously President of the Federal Reserve Bank of New York.1/3/2009

Wednesday, March 04, 2009

If the US Treasury cannot sell US$2T of paper >end of 2010 then the Obama plan falls apart : Ditto UK

On January 22nd Tim Geithner in a written reply to Congress, in response to a question from Sen. Olympia Snowe, (R-Maine), that President Obama’s administration “backed by the conclusions of a broad range of economists - believes that China is manipulating its currency.”

Best estimates are that China bought US$374 billion of U.S. bonds in 2008. With the Obama administration proposing a deficit of more than $1 trillion in 2009, is it good policy to insult your best foreign customer?

Tim's comments were followed by a bond sell-of and Su Ning, vice governor of the People's Bank of China, countering that "these remarks are not only inconsistent with the facts, but they are misleading about the reasons for the financial crisis."

Yesterday Tim was testifying to Congress again. A Congressman asked a direct, simple question.

“Mr. Geithner can we sell the bonds necessary to fund this deficit? Are the Chinese still buying our bonds?”

Mr. Geithner responded with a full three minutes of non-answers to those questions. At the end of three minutes the Congressman repeated his questions.

For another two minutes Mr. Geithner ducked the questions.

If the US Treasury cannot sell about US$2T of paper up to the end of 2010 (at the current historical low rates), then the Obama plan falls apart. Period.

NB : Fleshy Gordon is in the same spot more or less, but his problems arise from selling UK Government securities in the next nine months to fund his banking payola, PFI bail out (which has only just started) etc.

Armageddon

If interest rates are (as widely rumoured) due to drop yet again in the morning - the job looks even harder.

Steve Bundred, (pic Nov200) chief executive of the Audit Commission,said in an article in the Times Feb 26th , "The measures that the government is taking to stimulate the economy may well be absolutely necessary but they involve unprecedented levels of public borrowing and public debt,"

The Office for National Statistics (ONS) say UK national debt rose to £703.4bn in January, or 47.8% of GDP the highest for 20 years - this will (say the ONS) increase sharply if the money being pumped into Britain's faltering banks was taken into account.

Mr Bundred warned that if borrowing pushed above 65% of GDP, there was a "distinct possibility" Britain could face "the Armageddon scenario most feared by the Treasury: that there will be insufficient lenders to match the planned level of borrowing".

PS : & UPDATE The 2008 Audit Commission report on the NHS included the first full year audit of payment by results bills, which found that up to £1bn of the bills hospital trusts have sent primary care trusts could be wrong.

5 comments:

sam_m said...

Not to worry. They've spent two months flying the kite that quantative easing will solve all these problems.

Could be they've been locking up the wrong gang of criminals.

Anonymous said...

quantitative easing ,,,is that not some form of anal sex foreplay??not that i would know you understand.

lwtc247 said...

PFI when companies are going bust is an interesting concept.

China is playing with a weighing scales. If it wants to keep or can increase its financial status over the US, yet if it junks Tbonds/d0llars/Hitlery Clinton dart boards, then the US will collapse and declare force majere - China will have a lot of toilet paper that will obviously be in huge and immediate demand. Or so the conventional thinking goes.

The flip side is that it's all a freaking scam and only a small handful of right and powerful scumbags will survive.

Either way, it stinks!

P.S. left you a 'request' here.

Anonymous said...

03/05/2009

"Monsanto's Uphill Battle in Germany"

"Business is booming worldwide for US biotech giant Monsanto but in Germany the company has encountered fierce resistance. A colorful alliance of beekeepers, anti-capitalism protestors and conservative politicians are in the process of chasing the global market leader out of the country."...

http://tinyurl.com/aouge4


March 03, 2009

"Morgellons: Terrifying New Disease Reaching Pandemic Status"

"(NaturalNews) It sounds like something from a bad sci-fi movie. People report the sensation of creatures crawling under their skin, mysterious moving fibers appear, and finally bugs and worms pop out. Unfortunately, these terrifying symptoms are all too true. The people having them are experiencing Morgellons, the latest and scariest in the series of bizarre diseases appearing in the last few years, seemingly from nowhere. Morgellons is now reaching epidemic proportions in the U.S. and abroad."

"Morgellons is a multi-dimensional disease"...

http://tinyurl.com/dekusp

Anonymous said...

March 7, 2009

“Adverse Health Effects from the Operation of Digital Broadcast Television Stations (DVB‐T)”

“by Dr. Cornelia Waldmann-Selsam and Dr. Christine Aschermann and Dr. Markus Kern”

“The following text written as an open letter to president Obama by three prominent German physicians provides details on the adverse health effects of digital broadcasting”…

http://tinyurl.com/dlcksk

(C) Very Seriously Disorganised Criminals 2002/3/4/5/6/7/8/9 - copy anything you wish