Amy Winehouse, Aram Bedrosian, Sachal, Ryan Leslie, Björk.
Let’s make a deal, like, right now… cuts and an extension to 2014?
"With $90 billion worth of U.S. bonds due for redemption on Thursday, August 4, there is a chance if they go unpaid that those holding them will face a 100 percent loss unless investors are willing to let them roll over, according to Weinberg.
About $540 billion of debt mandates some kind of payment in every bimonthly cycle, and the August 15 payment will likely be a big one because it is the month of the Treasury’s quarterly funding exercise," said Weinberg. (Source)
Sovereign governments such as the United States can print new money. However, there’s a statutory limit to the amount of paper currency that can be in circulation at any one time. Ironically, there’s no similar limit on the amount of coinage. A little-known statute gives the secretary of the Treasury the authority to issue platinum coins in any denomination. So some commentators have suggested that the Treasury create two $1 trillion coins, deposit them in its account in the Federal Reserve and write checks on the proceeds.
If you are interested in containers, read ribbonfarm’s discussion of The Box: How the Shipping Container Made the World Smaller and the World Economy Bigger, by Marc Levinson here.