Apple now has more cash than the U.S. government

[Iwinyourmoney]

Maybe the cash-strapped U.S. government should start selling iPads.

According to the latest statement from the U.S. Treasury, the government had an operating cash balance Wednesday of $73.8 billion. That's still a lot of money, but it's less than what Steve Jobs has lying around.

Tech juggernaut Apple had a whopping $76.2 billion in cash and marketable securities at the end of June, according to its last earnings report. Unlike the U.S. government, which is scrambling to avoid defaulting on its debt, Apple takes in more money than it spends.

[jjgold]

unreal stat

us is fukked

[SportsMushroom]

if I where an influential politician in the US I would make a list of all apple employees of arab descent, accuse apple of harboring terrorists and seize all their assets

then of coarse use those assets to pay the defence industry that so patriotically provides the US army with equipment so that it can continue its war on terrorism

[FuzzyDunlop]

Take advantage of US tax system while hiding your income offshore, hire Chinese people to produce so much that suicide is their only option and sell your company as a religion to those that gave up on religion. Brilliant!!

[patswin]

Ha ha ha I m not surprised

[davidchong]

where is that info??

[Emily_Haines]

at 14.3 trillion in the hole

everyone here at SBR has more cash than the US government

[pavyracer]

Does Apple have Fort Knox?

[falconticket]

Are the strategic oil reserves worth anything?

[ronjon619]

Apple can almost print it's own money soon.......

[doublej95]

The United States has the largest gold reserve in the world.

[Davydave]

"President Jobs" has a nice ring to it.

[cash$bro91]

Maybe the US government could seize control of Apple to continue on with their Communist policies.

[SportsMushroom]

The United States has the largest gold reserve in the world.

errr, that gold reserve does not belong to the government, it belongs to the people of the US, that gold represents the money in circulation and needs to be kept in reserve to preserve the value of the dollar

[ACoochy]

errr, that gold reserve does not belong to the government, it belongs to the people of the US, that gold represents the money in circulation and needs to be kept in reserve to preserve the value of the dollar

So u havent noticed that in past 24 months you'd have made over 100% profit by simply shorting the US dollar? What 'value' of the dollar are u referring to?

[SportsMushroom]

So u havent noticed that in past 24 months you'd have made over 100% profit by simply shorting the US dollar? What 'value' of the dollar are u referring to?

are you american? is english your first language? were you taught comprehension at school?

my point was not how much the dollar is trading for, my point was that the US government cannot use the gold reserve because it does not belong to them, it belongs to the citizens, every currency is backed by gold, if there is no gold behind the dollar then the dollar is worth exactly 0, it will not be worth the paper it is printed on

of coarse there are conspiracy theorists that believe that there is no gold behind the dollar any more, or at the very least, there is not enough gold to back the US dollar, because the government printed too much money

[Mammon]

Apple is a Democrat.

[doublej95]

errr, that gold reserve does not belong to the government, it belongs to the people of the US, that gold represents the money in circulation and needs to be kept in reserve to preserve the value of the dollar

Sporty crawl out from under that mushroom. Nixon put an end to the gold standard back in 1971. The value of the dollar is controlled by the people that run the printing press. Print more money value goes down. It was actually a smart move to remove the gold standard, if the dollar was backed by gold, silver, coffee, or anything of trade you would have to turn over that asset upon default.

[SportsMushroom]

Sporty crawl out from under that mushroom. Nixon put an end to the gold standard back in 1971. The value of the dollar is controlled by the people that run the printing press. Print more money value goes down. It was actually a smart move to remove the gold standard, if the dollar was backed by gold, silver, coffee, or anything of trade you would have to turn over that asset upon default.

you are actually correct, did some research on it and yes it seems that nixon ended the gold standard and I am a moron for thinking it still applied

let me ask you this then, what happened to all that gold, by ending the gold standard some people must have become very rich

[doublej95]

you can stay the gold is the peoples gold but not really. they ain't going to give you a brick if you asked them nicely. It's kinda like your house and the White house, you can go piss in your front yard if you want but try that at the White house even though as a tax payer its your house also. The largest gold deposit's are held in Fort Knox and the Federal Reserve in NYC. In the 30's Roosevelt prohibited the citizens from owning gold so the citizens had to sell their gold to the government. So the United States got rich off the gold.

[aceking]

there is no gold in USA banks .

[Iwinyourmoney]

where is that info??

http://m.cnn.com/primary/_IogEeo-i82f4yCLXi

[floridagolfer]

Apple also is better run than the U.S. government.

[pavyracer]

Apple also is better run than the U.S. government.

If Apple run the U.S government it would cost you $10 to mail a postcard and the tolls in the highways would be $100.

[onlooker]

Their devices still suck ass.

[freeVICK]

iPhones will become the next world reserve currency

[kmarinouofm]

Take advantage of US tax system while hiding your income offshore, hire Chinese people to produce so much that suicide is their only option and sell your company as a religion to those that gave up on religion. Brilliant!!

yeah it was.. he is a genius

If Apple run the U.S government it would cost you $10 to mail a postcard and the tolls in the highways would be $100.

true.. but your postcard will arrive yesterday.. and the highways would be empty and fun to drive.. it will also be the nicest toll booth you have ever seen.. complete with wifi

[ACoochy]

are you american? is english your first language? were you taught comprehension at school? my point was not how much the dollar is trading for, my point was that the US government cannot use the gold reserve because it does not belong to them, it belongs to the citizens, every currency is backed by gold, if there is no gold behind the dollar then the dollar is worth exactly 0, it will not be worth the paper it is printed on of coarse there are conspiracy theorists that believe that there is no gold behind the dollar any more, or at the very least, there is not enough gold to back the US dollar, because the government printed too much money

LMAO u keep living ur delusions and meanwhile back in reality il keep shorting the USD and looking after mine. So u truly believe that gold belongs to the citizens?? Try and take ur fair share worth and let me know how far that gets you.
The gold price and the value of the US dollar are inextricably linked (would you like for me to explain that multi syllable word 4 u). Thing is if ur country defaults and ur $ becomes worthless then all that gold will do is see to it that Hyper inflation will kick in once converted to cash. Ur currency will be reduced to junk bond status and then economically speaking u may as well begin calling yourselves the west's version of zimbabwe, basket case country...