17
October
The Failout
It's only Thursday and the Treasury has gone to the credit markets for $194 Billion so far this week for short term paper alone. Let's say they only borrow another $6 Billion tomorrow and end up at 200 Billion. Let's do the math. 200 Billion times 52 weeks is ..........$10 Trillion 400 Billion Dollars. This coincidentally equals the amount of the current national debt. The current rate of borrowing is obviously unsustainable and most certainly will be curtailed on the supply side. We are in the end game where paper contracts and naked shorts are being levied to crush prices and thus scare those with half a brain out of their metals positions. Please do not be fooled. This is outright panic by the US government trying to save an unsavable system. In the process they have debauched our currency beyond imagination. I wrote yesterday that Argentina was the road map. I was wrong. Argentina was never given this much rope to hang themselves with. The Dollar will be more akin to the Weimar republic or Zimbabwe within a year or so. The music plays on and CNBC just keeps cheerleading the Generals as they lead us off a cliff.
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