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Treasury To Stop Funding Its Market Manipulation Fund To Delay US Bankruptcy

“Today, as previously announced, the Treasury Department will suspend reinvestment of the Exchange Stabilization Fund, the last of the measures available to keep the nation under the statutory debt limit. In order to prevent a default on the nation’s obligations, Congress must enact a timely increase of the debt ceiling.”

http://www.zerohedge.com/article/tr...nd-delay-us-bankruptcy?page=1#comment-1460888

C'ya, PPT! :eek:
 

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Interesting read,T :thumb:. Something I found especially interesting was in the comments below the main piece:
".....According to deCarbonnel, the Fed is actually NOT the main player of the US financial oligarchy; deCarbonnel says the Fed actually lost most of its power in 1934, in favour of another, more secretive US financial mechanism, this 'Exchange Stabilization Fund' or ESF within the Treasury Department, which deCarbonnel says is the boss of the Fed and not the other way around.

On deCarbonnel's view, it seems 'End the Fed' would just be another empty 'victory' if it happens, as the Fed's major functions would just continue from inside Treasury.

The ESF was created on 30 January 1934 as part of the Gold Reserve Act signed into law by US President Franklin Roosevelt on that day. Even at the time, the ESF was seen by some, as the most insidious part of the legislation by which the gold of US citizens was confiscated and nationalised....."
 

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On deCarbonnel's view, it seems 'End the Fed' would just be another empty 'victory' if it happens, as the Fed's major functions would just continue from inside Treasury.
If this is true then what the hell is Ron Paul doing? he has to know.

Congress must enact a timely increase of the debt ceiling.”
sounds like vain threats I say let it ride and we'll see who is right.
 

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If this is true then what the hell is Ron Paul doing? he has to know.
Yeah, but Ron Paul also "has to know" that if he ever became a serious threat to the Fed, he'd probably die in his sleep or something like that,and though he's still hammering away, he has to know there's a limit to how far he can push it. ( Excecutive Order 11,110 and it's return to a silver-backed currency is very likely why JFK was "removed" from office.)
 
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