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Guest Post: Treasury Is Re-writing History – Literally

Tyler Durden's picture




 
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Thu, 09/16/2010 - 15:45 | 586054 cougar_w
cougar_w's picture

Look it's only an estimate. $100B is like -- what -- a .001% margin of error now? I lop off the third decimal place in Excel spreadsheets all the time, never look back.

Thu, 09/16/2010 - 19:21 | 586610 mark mchugh
mark mchugh's picture

Wow, you're definitely US Government material!

Sure, you could look at it as a .001% error, if you failed the fourth grade.

Or you could look at it as 27% error in the case of Private pensions and a 14% error in the "other investors", if you didn't.

Close enough for government work, right?

How many tries did it take for you to get past the CAPTCHA?

 

Thu, 09/16/2010 - 20:50 | 586852 mark mchugh
mark mchugh's picture

Of course if you actually want to grasp the scope of this change, think of it this way:

Treasury issued $402B in 2009 Q4

After 2 1/2 months Treasury accounted for $265B (leaving $137B to be accounted for)

After 5 1/2 months Treasury accounted for the remaing $137B.

After 8 1/2 months treasury issued changes in allocation of the $137B totaling $253B.  Meaning the amount of the changes was actually greater than the entire amount that it took them 5 1/2 months to allocate (by 84%).

Making this either the biggest accounting fail I've ever seen or more evidence of the greatest fraud in the history of the world.

Nice to know you're cool with it!

 

 

Fri, 09/17/2010 - 05:17 | 587338 Tapeworm
Tapeworm's picture

I can't put my finger on it but a billion is a thousand million for those that need some help from non-existent accounting controls that went somewhere to help a poor bankster guy lift himself up by his own bootstraps to make a better life for all of his cohort. The misplaced sums now rival the net from all manufacturing/mining/agriculture (112 Bn in 2008)

 Why do these maggots think that their threats to blow themselves up are going to convince anyone outside of their northeast corridor?

Thu, 09/16/2010 - 15:47 | 586056 NOTW777
NOTW777's picture

when its not your money .......

Thu, 09/16/2010 - 15:47 | 586061 What_Me_Worry
What_Me_Worry's picture

The Bureau of Truthiness would like a word with you

Thu, 09/16/2010 - 15:55 | 586083 Translational Lift
Translational Lift's picture

Do we have a Truth Czar yet??

Thu, 09/16/2010 - 16:01 | 586106 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

Truth Czar all relative.

Thu, 09/16/2010 - 16:11 | 586137 Calmyourself
Calmyourself's picture

Nice turn of phrase, bravo...

Thu, 09/16/2010 - 15:48 | 586062 GIANTKILR
GIANTKILR's picture

Bravo, and well done my friend!!!!!

Thu, 09/16/2010 - 15:50 | 586067 WaltzTangoFoxtrot
WaltzTangoFoxtrot's picture

Obviously, Note 9 includes the Federal Reserve of United States.  Does it include Fan and Fred?

And I've heard that they put people in jail for fudging like this in the private sector!

WTF!

 

Thu, 09/16/2010 - 15:57 | 586091 Translational Lift
Translational Lift's picture

If you're in the Fed or Treas you can do just about anything with impunity..........

Thu, 09/16/2010 - 17:11 | 586326 doggings
doggings's picture

in China you'd get the 7.62 into the back of the head for less

http://a.abcnews.com/images/Blotter/abc_execution3_080215_ssh.jpg

Thu, 09/16/2010 - 18:57 | 586621 mark mchugh
mark mchugh's picture

Maybe Fannie and Freddie morphed into Federal Government pensions.

Thu, 09/16/2010 - 15:50 | 586068 bigdumbnugly
bigdumbnugly's picture

well, if you're only offering a hundred bucks for that video then no deal.  but since a $100 billion error is no big whoop i might just come up with it for that.

Thu, 09/16/2010 - 15:51 | 586070 AR15AU
AR15AU's picture

There should be a line item for Bill Gross's margin account...

Thu, 09/16/2010 - 15:52 | 586074 breezer1
breezer1's picture

this will be on cnbc tonight. just kidding...

Thu, 09/16/2010 - 15:52 | 586075 BORT
BORT's picture

He was using Turbo Tax Treasury Edition

Thu, 09/16/2010 - 15:56 | 586084 SpeakerFTD
SpeakerFTD's picture

LOL!  

Thu, 09/16/2010 - 16:21 | 586169 Fish Gone Bad
Fish Gone Bad's picture

+1

Thu, 09/16/2010 - 16:36 | 586216 HurricaneSeason
HurricaneSeason's picture

+2

Thu, 09/16/2010 - 17:20 | 586353 RichyRoo
RichyRoo's picture

+3

Thu, 09/16/2010 - 17:23 | 586363 RichyRoo
RichyRoo's picture

+3

Thu, 09/16/2010 - 15:56 | 586089 andyupnorth
andyupnorth's picture

Whatever happened to the $1 Trillion annouced missing on September 10th ,2001?

And didn't the Federal Reserve 'over-issue' another cool Trillion since then?

So this measily $100 Billion is just 5% of the above mentioned!

[Starting to daydream... man, how cool would it be to have $100 Billion... I wonder how the Rothschilds feel right now...]

Thu, 09/16/2010 - 16:10 | 586125 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

Whoops!  More "rounding errors" while tossing around REALLY BIG numbers.

September 10, 2001 was the day Donald Rumsfeld announced that the Pentagon was 'missing' 2.3 TRILLION dollars -- a mere 130% of the 1T mentioned above.

 http://www.youtube.com/watch?v=xU4GdHLUHwU

 Ah, who wants to quibble about a couple of Trillion amongst friends?

Thu, 09/16/2010 - 22:47 | 587055 mark mchugh
mark mchugh's picture

Good clip May I.

I'm gonna say that ground shifts like the one captured in this article is how Trillions get stolen.  And I completely misgauged how much and how many people care.

Thu, 09/16/2010 - 19:01 | 586629 mark mchugh
mark mchugh's picture

Andy, dude...

If 100B is 5% of a trillion in your world, enjoy those daydreams!

Fri, 09/17/2010 - 08:16 | 587488 A Proud Canadian
A Proud Canadian's picture

I like to think of it in physical terms....a stack of 100 Billion dollar bills , assuming they are 3 thousands of an inch thick with a half a thou separation would be 5,524 miles high.

Kinda hard to "lose" that much if it wasn't just electrons on a Fed computer.

Thu, 09/16/2010 - 15:57 | 586090 toathis
toathis's picture

You can keep exposing the media or politicians. But its always going to be the same. The system has been around for thousands of years, and it'll be around for much longer.

If you have a valid point on why it? will end soon due to this truth movement or somthing else, let me know.

Thu, 09/16/2010 - 16:09 | 586127 aheady
aheady's picture

Well bless my soul, if isn't Baby Bop!

Thu, 09/16/2010 - 16:43 | 586238 Voluntary Exchange
Voluntary Exchange's picture

Your statement is imprecise and inacurate. Study Ireland pre 1650, a stateless society that survived for over a thousand years.

Thu, 09/16/2010 - 17:23 | 586357 hedgeless_horseman
hedgeless_horseman's picture

Your statement is imprecise and inacurate.

Your statement is redundant and repetitive.  In addition, it contains a misspelling.  Otherwise, I agree with Ireland having tribalism before the rise of nation states, like every other civilization on the planet.  So I guess your statement is vacuous, too.

Peace be with you.

Thu, 09/16/2010 - 17:23 | 586360 hedgeless_horseman
hedgeless_horseman's picture

Dupe

Thu, 09/16/2010 - 18:04 | 586471 aheady
aheady's picture

.

Thu, 09/16/2010 - 15:57 | 586094 firstdivision
firstdivision's picture

<OT>Great time to short? http://www.google.com/finance?q=NASDAQ%3AOPEN</OT>

Thu, 09/16/2010 - 16:00 | 586101 Chump
Thu, 09/16/2010 - 17:06 | 586307 kinetik
kinetik's picture

Interesting article but to say the NYT is liberal.... I needed a laugh today and the author provided it with that quip.

Thu, 09/16/2010 - 20:59 | 586871 mark mchugh
mark mchugh's picture

I guess were even then, because your reading ability gave me a good one too!

Thu, 09/16/2010 - 16:54 | 586107 hedgeless_horseman
hedgeless_horseman's picture

Missing billions, Tim?  We could have asked those Japs that were caught smuggling hundreds-of-billions-of-dollars of US Treasuries from Italy into Switzerland in the bottom of their briefcases, TWICE!  Unfortunately, the smugglers were, "let go," BOTH TIMES before they could be questioned. 

If they were caught doing this twice (that we know of) how many times are they successful?

Lord, I wish this were tinfoil.

http://en.wikipedia.org/wiki/Chiasso_financial_smuggling_case

http://www.google.com/search?q=japanese+smuggling+treasuries+switzerland+italy&rlz=1I7GGLD_en&ie=UTF-8&oe=UTF-8&sourceid=ie7

Poof. gone.  I’ve even offered a hundred bucks to anyone who can find it, but I digress.

Have fun finding info on the second smuggling case that happened shortly afterwards. 

Memory hole, bitches!!!!!!

 

 

Thu, 09/16/2010 - 19:03 | 586638 mark mchugh
mark mchugh's picture

Flashy-flashy thing!

(MIB reference)

Thu, 09/16/2010 - 16:05 | 586117 enobittep
enobittep's picture

FUCK!

If an individual made an obvious mistake like this on their personal tax return - the computers would be scheduling an audit and the IRS agents would be greasing themselves up to crawl up that person's ass.  If a company filed similar sloppy SEC documents - same result.

Thu, 09/16/2010 - 16:08 | 586119 Restcase
Restcase's picture

Communications professionals are no longer required to do their own research.

And if their corporate overlords cut back research staff it's not the fault of the talent, is it?

Who says communication professionals have to answer to (ugh) bloggers, anyway?

I for one think the pro talent does a superb job reading, distilling, and presenting the press releases that they are provided with.

Thu, 09/16/2010 - 17:23 | 586366 RichyRoo
RichyRoo's picture

+1

Thu, 09/16/2010 - 16:28 | 586186 Commander Cody
Commander Cody's picture

What's all the fuss about?  Its the goobermint for God's sake!  Consider the source and don't be surprised.  They are not accountable.  Repeat: The goobermint is not accountable!

Thu, 09/16/2010 - 16:51 | 586259 ShankyS
ShankyS's picture

RACIST!

[/sarcasm]

Thu, 09/16/2010 - 17:29 | 586381 Bolweevil
Bolweevil's picture

TD,
martini lunches a mainstay these days? Your "fucks" and "shits" in your posts have increased dramatically. Stay focused. You're Obi-Wan Kenobi.

Thu, 09/16/2010 - 19:18 | 586651 mark mchugh
mark mchugh's picture

The "fucks" and "shits" are mine here, and if that's all that concerns you about this post, shove it up your fucking ass, dipshit!

Thu, 09/16/2010 - 17:42 | 586416 bankonzhongguo
bankonzhongguo's picture

I really think we are starting to see the real chronic change in American intellectual capacity.  Whether it is the story of Rome falling due to too much lead in their cookware, or the modern GMO food supply and mercury preservatives in needless vaccines, there is a progressive failing being witnessed.  You can see it in mainstream news articles with misspelled words, or these kinds of data presentations, or "off balance sheet financing," even the chronic downward revisions in BLS stats.  Maybe Idiocracy is a documentary.  Sure its easy to point to political maneuvering, complex systems, information "telephoned in."  But in time, either the words or the writer will no longer be trusted.  Like they say; "full faith and credit."  Coming soon with an asterisk.

Thu, 09/16/2010 - 21:46 | 586948 TwelfthVulture
TwelfthVulture's picture

This morning in my Foreign Policy Morning Brief, reporting on the Pope's visit to England they actually wrote that the Church of England was founded by Henry VII.  The seventh!

 

FUCK BITCHEZ, HOW THE FUCK DO YOU EVEN GRADUATE SEVENTH FUCKING GRADE WITHOUT KNOWING THAT IT'S HENRY THE FUCKING EIGHTH!!!!

Fri, 09/17/2010 - 02:00 | 587260 StychoKiller
StychoKiller's picture

Roman numerals are obsolete for a reason!

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