What does the U.S. Treasury know, or are preparing for, that they are not telling the public?
WHAT is so important about 10 days?
U.S. Treasury desperate to Raise Cash before Economic Collapse
(Reuters) – The U.S. Treasury wants to increase its daily cash holdings, a measure that would help Washington pay its bills during a crisis, a senior official said on Wednesday.
He [Treasury Assistant Secretary Matt Rutherford] said the measures would help public finances weather events like the Sept. 11, 2001 attacks or 2012’s Superstorm Sandy, both of which disrupted Wall Street trading. Washington borrows vast sums in weekly auctions to pay its bills.
Investors who met with Treasury officials on Tuesday urged the government to increase its daily cash holdings to around $500 billion. That would be enough to cover about 10 days worth of outlays.
A change in policy, however, would not buy the government any additional time if it runs into a legal limit on borrowing next year.
Read more: reuters.com