What Is Mnuchin's Treasury Hoping To Hide?

in the new Orwellian we face today, where freedom is slavery and ignorance is strength, one wonders just what it is that the US Treasury Department is trying to hide by its recent push for discussions about US government debt trading 'transparency' with the nation's biggest banks.

Transparency?

The U.S. Treasury Department plans to meet with market-makers and other electronic trading firms to discuss ways to bring more transparency to the $14.5 trillion market for government debt.

Bloomberg reports that U.S. officials are seeking industry feedback on how to publicly report prices for Treasury bonds for the first time, according to a person familiar with the matter.

Meetings will be held with New York-based firms this week and Chicago traders next week, said the person, who asked not be identified because the information is private. This follows conversations with the 23 primary banks and brokers that buy and sell U.S. debt directly from the government, said a different person familiar with the matter.

...

The current environment gives Wall Street dealers total knowledge of prices and trades while investors and market makers are in the dark about deals between banks and their customers, which comprise half of all trading.

It also hinders the ability of enforcement agencies to craft coherent policies because they don’t fully understand how Treasuries trade.

...

Some observers have expressed skepticism that any new rules will be implemented.

Mnuchin “vowed only to ‘study’ the wider dissemination of trade data, with the first principle of any reform to ‘do no harm,’” said Jim Greco, a co-founder of Direct Match Holdings Inc., a Treasury-trading firm that’s failed to break the banks’ stronghold on the market.

“I interpreted that as code for the new administration being much more friendly to banks, who universally oppose greater dissemination of trade data.”

So, forgive us a moment of speculation (while we don our tin foil hats) but the timing of Treasury's sudden interest in just how 'transparent' the market for US government bonds is - and the auction process for new debt issuance - is notably coincident with the growing threats and tensions with China (trade wars vs reduced bond auction participation) and Russia (actively reducing Treasury holdings).

With a nod and a wink from Treasury and The Fed, are the biggest primes being nudged to soak up the deficit-busting supply in a way that the current 'transparent' rules shade from the average joe's eyes?

 

Comments

ted41776 Mon, 04/02/2018 - 13:12 Permalink

14.5 trillion? lulz  come on now

http://usdebtclock.org/

you see that currency and credit derivatives number? that's the official version of how fucked we are. it should also be in red since currency and credit derivatives are not assets but liabilities

Rapunzal ZENDOG Mon, 04/02/2018 - 13:30 Permalink

Mnuchin just another sock puppet for the Rockefellers and Rothschilds.

all those rules and new laws are just handed to him, to make the public believe we are living in a democracy.

all politicians around the world are only puppets to the NWO/TPTB.

 

The media is trying hard to sell us those decisions are made by those goons. What a shit show.

In reply to by ZENDOG

Tippoo Sultan Bes Mon, 04/02/2018 - 14:07 Permalink

Speaking of Mnuchin, I received a Series 2017 bill for the first time the other day: Mnuchin printed his name, no cursive signature for the Secretary of the Treasury.

When Trump eventually shows Mnuchin the door, perhaps Steve's replacement will simply make his mark and scrawl, "X."

In reply to by Bes

GreatUncle Mon, 04/02/2018 - 13:14 Permalink

Oh so the creating a new Libor is that what this is?

You know so they have 0% risk on trade knowing they can manipulate it.

[edit] The investors are fucked before they even start investing you have to understand the hegemony principle that if the system inflates by 2% they award themselves 2.1% the 0.1% is the better make sure scenario.

small axe Mon, 04/02/2018 - 13:49 Permalink

The banana, Mnuchin is playing hide the banana with Mrs. Trophy Wife.

or he's hiding imminent bankruptcy of the US, but that wouldn't really be a surprise.

geno-econ Mon, 04/02/2018 - 13:55 Permalink

Any bonds today ?

That's what I'm selling,

Any bonds today.

Scrape up the most you can,

Here comes the debt man,

Asking you to buy a share of debt today.

 

The Treasury Man with the Trophy wife,

Will be knocking at your door,

Allowing government to spend even more.

Get your savings out today,

When you hear him shout,

"Any Bonds Today"

SmittyinLA Mon, 04/02/2018 - 13:59 Permalink

Somebody is dictating censorship at facebook, google, youtube, and Yahoo, is it the state or shareholders that want fewer views and lower profits?