speak easy
speak easy's JournalA fail safe for a debt default.
As at September 22, the Federal Reserve held $5.314 trillion of U.S. Treasuries.
https://fred.stlouisfed.org/series/TREAST
If necessary, the Board of Governors could cancel sufficient of its holdings as to stave off a default.
Why the French are so upset.
It was not just subs. On August 30, France and Australia held a ministerial meeting to establish a strategic defense partnership.
INAUGURAL AUSTRALIA-FRANCE 2+2 MINISTERIAL CONSULTATIONS 30 AUGUST 2021 JOINT STATEMENT
JEAN-YVES LE DRIAN, MINISTER FOR EUROPE AND FOREIGN AFFAIRS OF FRANCE FLORENCE PARLY, MINISTER FOR THE ARMED FORCES OF FRANCE SENATOR THE HON MARISE PAYNE, MINISTER FOR FOREIGN AFFAIRS AND MINISTER FOR WOMEN OF AUSTRALIA THE HON PETER DUTTON MP, MINISTER FOR DEFENCE OF AUSTRALIA
21 – BOTH SIDES COMMITTED TO DEEPEN DEFENCE INDUSTRY COOPERATION AND ENHANCE THEIR CAPABILITY EDGE IN THE REGION. MINISTERS UNDERLINED THE IMPORTANCE OF THE FUTURE SUBMARINE PROGRAM. THEY AGREED TO STRENGTHEN MILITARY SCIENTIFIC RESEARCH COOPERATION THROUGH A STRATEGIC PARTNERSHIP BETWEEN THE DEFENCE SCIENCE AND TECHNOLOGY GROUP AND THE DIRECTORATE GENERAL FOR ARMAMENTS.
https://alexpresents.com/2021/09/17/france-recalls-its-ambassadors-to-us-and-australia-in-submarine-deal-backlash-worldnews/
That defense alliance was founded the French submarine program. At the time that joint statement was made, Washington, London, and Australia were in to final stages of torpedoing the order for French subs.
At the very least, the Australians should have postponed their ministerial meeting with the French.
France recalls its Ambassador for the first time since the Revolutionary War,
cancels the commemoration of the Battle of Chesapeake Bay.
France recalls ambassadors to US and Australia after Aukus pact
First time France has recalled a US ambassador in alliance dating back to American revolution
... The French foreign minister, Jean-Yves Le Drian, said the order to bring the ambassadors back to Paris “immediately” was made at the request of the French president, Emmanuel Macron.
... Peter Ricketts, a former permanent undersecretary at the Foreign Office and former UK ambassador to France, tweeted: “Don’t underestimate reaction in Paris. It’s not just anger but a real sense of betrayal that UK as well as US and Aus negotiated behind their backs for 6 months. I lived the rupture in 2003 over Iraq. This feels as bad or worse.”
https://www.theguardian.com/world/2021/sep/17/france-recalls-ambassadors-to-us-and-australia-after-aukus-pact
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