U.S. Treasury To Run Out Of Money By Feb. 15, Study Says

[Schmoove]

U.S. Treasury To Run Out Of Money By Feb. 15, Study Says - Forbes

According to the Bipartisan Policy Center (BPC), a Washington think tank founded by former Republican and Democratic senators, the U.S. will run out of money to meet its obligations around Valentine’s Day.

Mid-afternoon Monday, the BPC released a report saying Washington reached its borrowing limits sooner than later and moved the so-called “X date” to as early as Feb. 15.

In fact, according to the report by Steve Bell, Loren Adler, Shai Akabas, and Brian Collins, the United States hit the debt limit on New Year’s Eve and has been surviving on fumes ever since. What’s been keeping the lights on at the Post Office and elsewhere has been the fact that Treasury began tapping into roughly $200 billion of emergency borrowing money– referred to as “extraordinary measures” – to allow for an additional period of fully-funded government operations, the foursome wrote.

 

[Hood Critic]

Guess that coin is going to get minted.

 

[newworldafro]

U.S. Treasury of the Federal Reserve????

Saw this thread recently.....http://www.abovetopsecret.com/forum/thread884567/pg1

So the Federal Reserve has a 100 year charter Dec. 1913 - Dec. 2013 , but apparently it was increased to perpetuity in 1927 by Congress....... so.....

www.kitcomm.com...



Yet another absolute myth about the Fed spread by ignorant Paul fans.
There was never a 100 year (or 99 year as some other similar lies state) charter for the Fed.
It was set up in 1913 with each individual Federal Reserve Bank having a 20 year charter.
However congress passed the Pepper McFadden Bill in 1927 giving the banks perpetual charter. The system can only come to an end as a result of an act of congress.

Post #54 says the following:

To put this discussion to rest.

The original Federal Reserve Act of 1913 did indeed provide for expiration of the corporate "power" of the twelve Federal Reserve Banks to exist in 20 years from the banks' organization (not the adoption of the Act).

Sec. 4 ... the said Federal reserve bank shall become a body corporate and as such ... shall have power: ... Second. To have succession for a period of twenty years from its organization unless it is sooner dissolved by an Act of Congress, or unless its franchise becomes forfeited by some violation of law. Federal Reserve Act of 1913 (P.L. 63-43, 38 STAT. 251, 12 USC 221).

However, this 20-year corporate life was changed to perpetual in 1927 by Act of Feb. 25, 1927 (44 Stat. 1234) as follows:

Second. To have succession after February 25, 1927, until dissolved by Act of Congress or until forfeiture of franchise for violation of law.

This is codified in the United States Code, 12 U.S.C. § 341. See www.law.cornell.edu...

This is where it stands today. Each of the U.S. Federal Reserve Banks can only be dissolved by an act of Congress or "forfeiture of franchise for violation of law."

So it looks like the FED got a 20 year charter on 23 dec. 1913 and on 25 feb. 1927, this was changed to perpetual..

The URL of Cornell looks very original.

So the charter is perpetual, or there must be some other change after 1927.

Only an act of Congress can end the FED.