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overtheedge
Member since May 2012
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U.S. National Debt Over $17 Trillion - Surges $328 Billion In A Single Day - Mark O'Byrne - gold.ie

"The real issue is how the irresponsibility of American politicians will be paid for by all of us and drastically affect all our personal finances in the coming years. This is where the real focus and debate should be."

"The Treasury Department was forced under so-called “extraordinary measures” to borrow $400 billion beginning in May, in anticipation of an agreement between Congress and Obama."

US Constitution Section 8. The Congress shall have the power ...
Paragraph 2:
To borrow Money on the credit of the United States;
US Constitution Section 9 Paragraph 7:
No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by law;

Just wanna make sure I understand this. It is okay for the Executive branch to borrow monies from one account to pay bills not related to that account? So the Congressional Appropriations and consequent deposit into the various accounts is just a guideline for spending? A talking point? Perhaps a starting point in negotiations?

Bullshit. If a poor country boy like myself can see this as Presidential malfeasance, what is wrong with Congress that keeps them in the dark over this theft?
When you take money designated for one use and use it elsewhere, you have misappropriated it. You effectively defrauded the depositors from their intended purpose for depositing the funding in the first place. You stole the funds for a purpose not authorized by the Constitution. Legislative law be damned. Legislative law can't supersede Constitutional Law.

Perhaps the Obama regime will use the ex officio line popularized by R.M.Nixon, "Well when the president does it, it isn't illegal."

Obviously it is time to repeal the XVIIth Amendment and replace all the Senators and Representatives that do nothing about this Presidential malfeasance.

Commented 3850 days ago

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Beginning of the headline :Today’s AM fix was USD 1,316.00, EUR 962.27 and GBP 814.05 per ounce. Friday’s AM fix was USD 1,317.00, EUR 962.09 and GBP 813.16 per ounce. Gold fell $5.60 or 0.42% Friday, closing at $1,314.10/oz. Silver rose $0.08 or 0.37% closing at $21.88. Gold and silver were both up on the week at 3.49% and 2.77% respectively. Gold edged up to near one and a half week highs above $1,316/oz today, supported by a surge in the U.S. National Debt of $328 billion in one day to over the $17 trillion mark. U.S... Read More

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