US Govt broke within 2 weeks
“The Treasury General Account fell $26 billion yesterday to $188 billion.
At this pace the TGA will be empty on Monday May 15th, nearly 3 weeks ahead of Yellen’s June 1st estimate.”
The treasury account continues to drain after a little spike up from tax receipts. There is only about 10 business days left at this pace until the account goes to $0. The only way to avoid this IMHO would be a minting of a $1 trillion platinum coin unless debt ceiling legislation is passed. If they make that coin I expect crypto and metals to go into low earth orbit. Meanwhile the normies who remain clueless may have a rude awakening very soon.
https://twitter.com/FinanceLancelot/status/1654433778683486208
The one month treasury just spiked 100 basis points to 5.544%
Hmm. Is Janet Yellen raising cash to pay the bills with this emergency measure.
George Gammon: (11:21)
https://www.youtube.com/watch?v=2HIZ9gnJBrU
Well VIX shows no fear into the weekend.
5.76% according to this site … 70% jump within two weeks for one month treasury bill rates!
https://ycharts.com/indicators/1_month_treasury_rate
Just changed my core position at my brokerage from short term govt securities to FDIC Cash. Thanks for posting! Will watch the fireworks from the sidelines. I think they broke the ‘buck’ during the GFC as well if I recall. Pass the popcorn…