Tuesday, September 17, 2013

The Treasury Secretary on How Unstable U.S. Government Finances Are

Treasury Secretary Jack Lew made the following statement during remarks today before the Economic Club of Washington D.C.:
[W]e are relying on investors from all over the world to continue to hold U.S. bonds.  Every Thursday, we roll-over approximately $100 billion in U.S. bills.  If U.S. bond holders decided that they wanted to be repaid rather than continuing to roll-over their investments, we could unexpectedly dissipate our entire cash balance.


  1. If the bomds were paper notes instead of digital I would buy them all....to try and keep warm in the winter...depends on the price and.....hee hee.....maturity.

  2. They openly admit they're running a debt-based ponzi scheme. People just don't care. They're too stupid.

  3. where did you get this? Is this actually true or it's just another crazy conspiracy theory?