Re: look, over there, it's a wiener!

We're doomed.

Johne Cook
| http://raygunrevival.com | http://authorculture.blogspot.com |*
*


On Mon, Jun 6, 2011 at 5:02 PM, Lance McLain <lance-X3DuywwxauBWk0Htik3J/[email protected]> wrote:

>
> nevermind the below....just more theft, fraud and blah blah blah, blah.
>
> ----------------
> zero hedge - on a long enough timeline, the survival rate for everyone
> drops to zero
> June 6, 2011 5:48 PM
> by Tyler Durden
> Quantifying The Treasury's Plunder Of Retirement Accounts: $80 Billion
> Between The G- And CSRD Funds Since Debt Ceiling Breach
>
>
>
>
> Last Thursday we attempted a rough estimation of how much the Treasury has
> been dipping, or as it is also known "disinvesting", into the G-fund and the
> Civil Service Retirement and Disability Fund (CSRDF). Courtesy of Stone
> Mountain, we now have a definitive number. Even we did not realize how bad
> it is: in a nutshell, since the debt ceiling breach in mid May, Tim Geithner
> has replaced one IOU (that of the Fed) with another (that of the Treasury)
> in the G Fund to the tune of $57 billion, and in the CSRDF of about $22
> billion. In other words, retirement funds have seen a "disinvestment" of
> nearly $80 billion in the past 3 weeks just to make space for further
> funding of bloated government, defense spending, and healthcare benefits.
> But don't worry: Tim promises it shall all be well.
>
> From Stone McCarthy:
>
> Treasury's release this afternoon of its Monthly Statement of Public Debt
> provides more insight into how much of those options Treasury has tapped so
> far. The following chart shows non-marketable securities held by the CSRDF
> each month since April of last year.
>
> In May, those holdings declined $21.8 billion. Non-marketable holdings by
> the CSDRF are volatile on a monthly basis, but that decline is larger than
> average. In reality, there isn't that much mystery about the room created by
> redeeming securities held by the CSDRF. Treasury Secretary Geithner made it
> pretty clear when he announced on May 16 that he was declaring a Debt
> Issuance Suspension Period (DISP) for about 2 1/2 months -- from May 16 to
> August 2. The amount of room created by redeeming securities held by the
> CSDRF depends on the length of the DISP. In a nutshell, Treasury can create
> -- upfront -- about $6 billion per month of the DISP, plus a little bit more
> related to the suspension of new investments by the CSDRF.
>
>
> The change in the balance of securities held by the Thrift Savings Fund was
> more telling. This fund is also known as the "G-Fund;" it's one investment
> fund available to federal employees who participate in the Thrift Savings
> Plan (TSP), which is a defined contribution retirement plan available to
> federal employees.
>
> The balance in the G-fund was $73.3 billion as of May 31, down $56.0
> billion from the end of April. As our next chart shows, the pattern is for
> the balance in the G-fund to drift higher. Over the last year, the G-fund
> balance increased by about $1.1 billion each month. If we assume that would
> have occurred in absence of debt ceiling actions, then we can assume that
> Treasury suspended investing about $57.0 billion of G-fund securities in
> order to create room under the debt limit.
>
> And people were angry when they seized Irish pensions...
>
>
>
>
> Debt Ceiling Reality Tim Geithner
>
>
> Sent from my iPhone
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