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Jim Rickards: U.S. Treasury’s Extraordinary Measures

from RTAmerica:

As Congress prepares itself for a big debate on raising the debt ceiling, there’s one thing to keep in mind — the US already hit its borrowing limit on May 19th of this year. The US Treasury is legally only allowed to rack up $16.7 trillion in debt, but it has finagled a way to legally spend an additional $260 billion, using what it calls “extraordinary measures.”

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1 comment to Jim Rickards: U.S. Treasury’s Extraordinary Measures

  • Jonathan

    As far as I know Federal Government owes this money to the parent company the Federal Reserve. Due to the fact that the Federal Reserve created the money out of thin air why would the Federal Government ever pay a dime of this money back to them. Oh yeah because the Federal Reserve owns and operates the Federal Government.

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