I share his concern. No, it's not an old Scandinavian toast. The Federation has a cash crunch. We lack liquidity. What alarms me about our current cash situation is that we don't have the money to pay our bills.
Retailers go under when creditors demand payment on past-due bills.
Terms become harsher, interest rates go up, and merchandise is cut off or provided on a cash-only basis. To be able to solve the Federation's problems candidates must first recognize that we have problems. I've looked at long-term strategies for growth and revenue enhancement in my previous three mailings. In the short term, the USCF must restructure its debt. By putting the Life Membership Account at a remove from operations, with separate trustees and investment counselors, the Federation meant to shield it from raids by operations during difficult times.