The Supercommittee That Really Runs America - Presenting The November 1 TBAC Minutes

Tyler Durden's picture

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Henry Chinaski's picture

We are pawned pawns pwnd.

HoofHearted's picture

And we are pwned by a TBAG TBAC committee...make it even worse

TruthInSunshine's picture

A member then broached the subject of Floating Rate Notes (FRNs), noting that it was recently discussed with primary dealers ahead of the November refunding.  DAS Rutherford noted that while FRNs have many features that make them a potentially attractive instrument for Treasury, there is still a lot of work that needs to be done on the product related to cost, structure, and demand.  DAS Rutherford emphasized that no decision has been made on whether to introduce this product.  It was the view of the Committee that Treasury should continue to study the product idea with a focus on cost.  


And on the subject of that FRN acronym, which also stands for Federal Reserve Notes, being symbolic of all inherently worthless fiat everywhere, upon which the greatest global ponzi in history is based, these people are not the ones who rule the world.

These people who meet so openly are mere errand boys/girls.

The ones who rule the world are behind the curtain, rarely seeing the light of day.

But they have a simple Modus Operandi, that has served them well for centuries.

1)  Create fiat using nothing more than an computer/ledger entry, backed by nothing of inherent value, that has legal recognition.

2)  Circulate such fiat via loaning it out, charging interest upon it.

3) Successfully get nations, business entities and individuals to borrow said worthless fiat that was conjured from thin air, and pay interest, pledging their real, inherently valuable assets in exchange for said worthless fiat (i.e. meaning that their real, inherently valuable assets can be taken if the conditions that make it impossible for them to repay the worthless fiat are [intentionally] induced).

4) Set the rate of interest payable on the loans of fiat that was conjured from thin air, solely at their discretion.

5) Supply more of such fiat, or withdraw fiat, to/from the system, at their discretion, bringing about inflation or deflation.

6) During times of large scale loan defaults, on the repayment of the fiat that they conjured from thin air, backed by nothing of inherent value, seize the most valuable assets that exist on the planet, many of which mankind depends on for its very survival.

topcallingtroll's picture

Yeah he makes it sound so appealing.

Is turbo tax Timmah really part of this strategem?

Couldnt they have picked a better guy to run the treasury?

BigJim's picture

Thank God our leaders would never let it happen!

The Big Ching-aso's picture

I must say a very diverse group on this committee.   Affirmative action at work no doubt too. 

It's good to know that these stellar stewards of our financial system meet regularly to fuck things up consistently so we can plan accordingly.    The market hates uncertainty ya know.

Bring the Gold's picture

Excellent post. This is exactly what they do. Everyone who isn't completely compromised should take some time to reflect on financial history since 1870 onward (you can begin earlier in Europe especially England and Venice) in the US. You can also look at the history of the first two banks of the United States. You can see how engineered panics (1907 etc.) brought about the current FED system to operate in just the manner described. This system was perfected in Europe and imported to the US. Several of the Founding Fathers and early presidents (Andrew Jackson for all his other crimes and failings was on the right side of this issue) worked tirelessly against just such a system being implemented in this country.

SRV - ES339's picture

Well done TIN... clearly you get it!

Sent CNBS Asshat Hobbs a note to stop referring to the Greek protesters as anarchists yesterday... they're standing up to these monsters and I hope they force a default and blow the whole thing up!

It's time folks... no excuses if you try to squeeze a few last drops from the system before it goes down and you lose it all... ask anyone tied to MFG (how many traders saw the danger when they scooped up Lind-Waldock)!

eureka's picture

Okay - cool - agreed - so let's liste THESE REAL RULERS OF THE WORLD:

Rothschilds, Rockefellers, Koch Brothers, Bill Gates, Warren Buffet... anyone else - let's complete the list and then encourage EVERYONE on earth to completelt boycott any and all of their products and corporation.

What Do we really know? We should know who the real scumbag are - c'mon TRUTH IN SUNSHINE - name and list them all, please.

wang's picture

but who pays for travel, lodging and meal expenses and do they fly coach?

TruthInSunshine's picture

They could stay at the Red Roof Inn, since the U.S. Government bought that delapidated chain of slumtels with U.S. taxpayer money via the TARP/TALF scam, but I heard a rumor that they prefer 5 star hotels with Michelin Star restaurants.


AE911Truth's picture

Hey, what about using interest free Treasury issued money?

We could print enough to pay off the debt, eliminating all interest expense. This would save billions.

We wouldn't even need an IRS. Why collect tax when you can just print what you need? Doing away with the IRS would save billions.

Of course you would want to preserve your wealth in precious metals.

Any questions?

TruthInSunshine's picture

That would greatly upset the inner sanctum loan shark racketeering group (ISLSR), and would lead to a global war.

They like their fractiona reserve fiat alchemy that they've monopolized which brings them unlimited interest payments in exchange for perpetually driving nations, business enterprises and individuals deeper into debt servitude, and getting the best assets having real value that these nations, business enterprises and individuals previously owned when they ultimately default - and make no mistake about it, they will all default ultimately.

Tulips, dot.coms, real estate, house flipping, VISA/MasterCard, HELOCs, social networking IPOs - it doesn't matter the drug that gets the junkies addicted and indebted; the end result is always the same.

AE911Truth's picture

Dear Truth;

Your answer highlights why we need to stop using their debt based money. Perhaps we need a popular movement to create this change. Thanks

Quinvarius's picture

Yeah.  The last thing they want is a debt free public.  Imagine the velocity of money if people had no debt. 

TruthInSunshine's picture

While there's no doubt that the velocity of money would slow absent a debt-reliant system, a cash and carry economy would certainly lead to far more prudent financial decisions, far fewer boom-bust cycles, and consequently, far fewer opportunities for TPTB (those who conjure fiat from thin air at zero cost and loan it out charging interest, while receiving pledges of collateral having inherent value to secure such fiat loans) to 'relieve people of their most valuable possessions' (many of which have been held by their families for a generation or more, as in the case of family businesses/farms/jewels/PMs - Niederhoffer's prized silver antique collection comes to mind, but he was fully in bed with the sharks).

In other words, a far less debt reliant system, based on worthless fiat loans & fractional reserve banking, would lead to far more sustainable, real, organic economic growth, with far fewer 'harvests of dispossession.'

pepperspray's picture

Iran already read this

metastar's picture

Terrorist have long ago invaded Washington & Wall Street dwarfing any threat posed by Iran.

GeneMarchbanks's picture

Mark Cabana = Mark Cuban?

There seem to be a lot of fake people at these meetings, as in made -up characters. Never heard of ninety percent of those lunatics....

i-dog's picture

The Squid's 'vice chairman' of the meeting is just 1 of their approx. 1,000 "managing directors" ... not even board or partner level. It's a side-show.

grunk's picture

Did they plan the office Christmas party?

Tsar Pointless's picture

I'm sorry. I read the whole thing, but all I got out of it was:


mkkby's picture

All I got out of it was... laughter.  If it had any meaning it wouldn't be displayed publicly.  These clowns are just the distraction.

Cursive's picture

Tim Geithner = sock puppet

bankonzhongguo's picture

Adding "puppet" gives an air of humanity.

Really just a sock.

marcusfenix's picture

"Director of the Office of Debt Management"

I'm guessing that's more of a ceremonial position, obviously bereft any any real meaning or function, kind of like the king of England or TOTUS...

traderjoe's picture

It's ALL about keeping up appearances.

CrimsonAvenger's picture

I have to note that Tyler continues to display a wicked sense of humor - I hope it gets him some action with the ladies. If I was that clever I'd be getting laid all the time.

My wife, of course, would be furious.

hedgeless_horseman's picture



Allow me to summarize.

Our banks' net interest margins are in the toilet.  How do we help?

narnia's picture

most of them would gladly accept the spread between past fixed rate obligations on depreciating collateral and ZIR with no loan growth than compressed spreads on rapidly depreciating collateral on rising IR with uncertain loan growth.

Zgangsta's picture

So that's why the Dow is soaring today!

e2thex's picture

The last time we met the wine list was rather shabby.

merchantratereview's picture

Zero hedge is the NY Times and Wall St Journal combined. Great reporting!

jayman21's picture

What kind of ZH'er would junk this?  Did someone piss on your cheerios this morning?

HellFish's picture

Probably due to the insulting comparison of ZH to the NYT.

11b40's picture

"Finally, the presenter concluded that Treasury should continue to investigate new product alternatives in order to diversify its investor base."

The junkers are probably from the GS marketing department....the same mentality that thinks the TSY needs to seek new "products" to divesify it's investor base.

Wasn't it all the new "products" conjured up on Wall St. that got us into this mess? 

In this instance, I would call any new "products" they came up with junk....and instead of "investor base", the proper term would be "suckers" if outsiders, or "scammers" if insiders, depending on how the "product" was structured and who it was marketed to.

zhandax's picture

No, it was that nightmare conjured on Jekyll Island and blamed on the panic of 1907 that got us into this mess.

Life of Illusion's picture



First thing they talked about.

All they care about is keeping that debt in tacked and re-inflated.

At any cost!


Sudden Debt's picture






bernorange's picture

"The presenter also noted that foreign investor demand for Treasuries still remains healthy by historical standards."


unununium's picture

The presenter noted ... A member broached ...

Not surprising that nobody wants their name associated with treason.

Use of Weapons's picture

You're missing the snark: Liberty Bonds?



Raging Debate's picture

Ahh the irony and ohhh the horror... Man has evolved past 3d models long ago. Attempting to force a 3d triangular peg of 6667 into a 4d box of 4444 will no longer work.

Someone please tell them this time is different. However, it appears thier are mathematical and computational tools to create the solutions. Anything else now just destroys confidence. Use post-modern physics not neoclassic inputs from Malthus day. The current priests are basically telling us to become sun-worshipers. It is insulting to 6b Interweb users but the 6b don't know why. Perhaps this is food for thought...

Use of Weapons's picture

Sirius, Sirius, my dear fellow.

Where once there were 230 possible phases, we have now gone to a 5 fold Fourier, and so we are opened up. Whilst meeting replicas is both pleasing and confusing, one has to remember compassion and deal with our problem of Quenched Disorder. To deal with a QD issue on the interweb, one has to embrace and consume the flesh of the m[i/e]metic load - holding 4 schema layers of virulently conflicting belief & alief at a time, whilst maintaining both a status quo performance and humanity, leads to bleed and a noise ratio unpalatable to (the) many. We understand the distraction and pain that can bring to harmony, but all antibodies require infection of the host to start with.

To cease pollution, sometimes poisons have to be administered both to the body, and the body politic, to allow moments of silence. Torture was required to provide an opening, and From Metaphor to Metamorphosis requires one to understand that the unconscious realm summons that worst of all - À la recherche du temps perdu. 


Song of the Sea, a Capella, and Unanswered


Shock reveal: this is my base