Quotes of All Topics . Occasions . Authors
If investors avoid the Treasury market, we could be unable to pay off maturing securities, which would mean an immediate default. Market participants generally agree that even a brief default would create potentially catastrophic risks to the financial system, like the meltdown of 2008.
What is it but a cunningly devised scheme to take from one State and to give to another - to replenish the treasury of some of the States from the pockets of the people of the others; in reality, to make them support the governments and pay the debts of other States as well as their own?
It was only when I started handling Treasury Operations that I realised all of a sudden just how much wealth we have. That is a huge responsibility, so I decided to get on with it and learn how to manage it, because I am a single child and have no siblings to share the responsibility with.
The Secretary of the State at the time was James Baker, who had also been Secretary of Treasury and White House Chief of Staff: very powerful guy. And I went to see him in his very ornate office at the State Department to say I wasn't going to cover him anymore. It was just a courtesy call.
As a steward of the U.S.economy and financial systems, the Treasury has helped lay the groundwork for the American economy to become a model of strength, flexibility, dynamism, resiliency. This is a system that generates growth, creates jobs and wealth, rewards initiative, and fosters innovation.
Dictators cause the world's worst problems: all the collapsed states, and all the devastated economies. All the vapid cases of corruption, grand theft, and naked plunder of the treasury are caused by dictators, leaving in their wake trails of wanton destruction, horrendous carnage and human debris.
The organization of the government itself is something which we ought to examine in a more self-conscious way - the Federal Reserve and the Treasury and the Securities and Exchange Commission. The mission that each of them has is mainly economic but should be informed by good organizational practices.
When confronted with a direct threat to American security, Obama has shown he is willing to act unilaterally - in a targeted, get-in-and-get-out fashion, that avoids, at all costs, the kind of messy ground wars and lengthy occupations that have drained America's treasury and spirit for the past decades.
God who created us has granted us the faculty of speech that we might disclose the counsels of our hearts to one another and that, since we possess our human nature in common, each of us might share his thoughts with his neighbor, bringing them forth from the secret recesses of the heart as from a treasury.
If the U.S. Government was a company, the deficit would be $5 trillion because they would have to account by general accepted accounting principles. But actually they encourage government spending, reckless government spending, because the government can issue Treasury bills at extremely low interest rates.
I attended school regularly for three years. I learned to read and write. 'Lamb's Tales' from Shakespeare was my favourite reading matter. I stole, by finding, Palgrave's 'Golden Treasury.' These two books, and the 'Everyman' edition of John Keats, were my proudest and dearest possessions, my greatest wealth.
If taxation without consent is robbery, the United States government has never had, has not now, and is never likely to have, a single honest dollar in its treasury. If taxation without consent is not robbery, then any band of robbers have only to declare themselves a government, and all their robberies are legalized.
Regulatory changes have forced banks to closely examine their liquidity planning and to internalize the costs of liquidity provision. The costs of committed liquidity facilities will be passed on to clearing members. These costs are perhaps highest in clearing Treasury securities, where liquidity needs can be especially large.
There are several things that can create an alpha - stock buybacks are one. High dividend yields are another, especially nowadays because the stock market yields more than the banks and the tenure treasury. But by and large, it tends to be companies with a strong cash flow, rising sales, accelerated earnings, a profit margin expansion.
A decade ago, I lived in Saudi Arabia, in Riyadh, as the treasury attache to our embassy there, and I was, of course, on the ground in the Middle East whenever the Arab Spring started, and it's fast-forward a decade later, nine years later. It's hard to believe that I am still working on this issue. You know, here in the State Department.
What I'm not saying is that all government spending is bad. It's not - far, far from it, but there is no free lunch, as a former colleague of mine used to say. There is no public tooth fairy. Father Christmas does not work on the Treasury staff this year. You can never bail someone out of trouble without putting someone else into trouble.
