31 Aug 2013
Dr. Roberts: “The (U.S.) deficit projections, if they are honestly done by the Congressional Budget Office and the Office of Management and Budget, will show a larger deficit projection than Congress faced the last time they refused to deal with the issue.
So, what will they do when as of mid-October, as the new Treasury Secretary has said, ‘The Treasury will have run out of tricks’ to get around the debt ceiling limit? For example, what the Treasury has done to evade this limit is to pay itself dividends out of Fannie Mae and Freddie Mac (laughter ensues)....
“They have to (do this) because otherwise they can’t pay their bills. The deficit ceiling stops them. So they use this to produce revenues. They also use these kinds of gimmicks to claim that there have been reductions in the cash base current fiscal deficit. These are all deceptions they (the U.S. Treasury) are using to avoid the letter of the law. Of course they (still) violate the spirit of the law.The real danger is the whole world looks at this and says, ‘The Americans are printing up 1,000 billion (one trillion) new dollars every year to bail out the banks and to finance their current operating deficit, and there doesn’t seem to be any end to this. There is no resolution and the deficit is worsening.’ Full story at KWN
By Jim Willie CB: Syria is about the last gasp for the Petro-Dollar, the emergence of energy pipeline geopolitics, the rise of the NatGas Coop, the new dominance of Russian Gazprom, the eclipse of OPEC, the fall of the house of Saud, and a grand adjustment process in global commerce and banking. Refer to trade settlement outside the USDollar and diversification away from USTreasury Bond reserves management. It took some time to realize it, but the Cyprus bank incident was a misdirected attack against Gazprom. It failed. The entire Arab Spring movement, an ambitious disruptive project waged with foolhardy ambitions, has turned on itself. Egypt fell, its US puppet discharged. The entire North African region will be in flames soon. The USGovt interfered with a grand industrialization project for European industry, to be placed on North Africa intended to take advantage of cheaper labor, available minerals, nearby resources, and easy shipping. The resentment of Europe will show up in the future. The Middle East and Persian Gulf region is shifting its salute to Russia & China, as the noisy sectarian battles have been a common fixture since long ago. Bahrain has erupted. Saudi is clamping down and converting into an Islamic police state to create the Iran-Saudi repressive bobsey twins. Chaos is the longstanding objective of the USGovt in foreign policy infection, no change in decades.