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US Government “Shutdown” and “Debt Default”, A Multibillion Bonanza for Wall Street

The “shutdown” of the US government and the financial climax associated with a deadline date, leading to a possible “debt default” of the federal government is a money making undertaking for Wall Street.  A wave of speculative activity is sweeping major markets. The uncertainty regarding the shutdown and “debt default” constitutes a golden opportunity for “institutional speculators”.  Those who have reliable “inside information” regarding the complex outcome of the ...Read full article...

Obama Privately tells Banks: U.S. Not Defaulting

By Charlie Gasparino Fox Business July 26, 2011 While officials from the Obama Administration raised their rhetoric over the weekend about the possibility of a debt default if the debt ceiling isn’t raised, they privately have been telling top executives at major U.S. banks that such an event won’t happen, FOX Business has learned. In a series of phone calls, administration officials have told bankers that the administration will ...Read full article...

Federal Reserve Preparing for U.S. Default

by Tyler Durden Zero Hedge July 21, 2011 That giant whooshing, and humming, sound you hear are all the printers at the basement of Marriner Eccles getting refills and start the warm up process. Because according to the Fed Charles Plosser the Federal Reserve is actively preparing for the possibility that the United States could default. Which can only mean one thing: an immediate paradrop of millions of $100 ...Read full article...