Treasury calls a secret meeting of the .01%

Government Source Document

Notice is hereby given, pursuant to 5 U.S.C. App. 2, Sec. 10(a)(2), that a meeting will be held at the Hay-Adams Hotel, 16th Street and Pennsylvania Avenue, NW., Washington, DC, on November 1, 2011 at 9:30 a.m. of the following debt management advisory committee: Treasury Borrowing Advisory Committee of the Securities Industry and Financial Markets Association

That is the order by the Treasury Secretary for the meeting.

Secretary of the Treasury and the making of recommendations of the Committee to the Secretary, pursuant to Public Law 103-202, 202(c)(1)(B). Thus, this information is exempt from disclosure under that provision and 5 U.S.C. 552b(c)(3)(B). In addition, the meeting is concerned with information that is exempt from disclosure under 5 U.S.C. 552b(c)(9)(A). The public interest requires that such meetings be closed to the public because the Treasury Department requires frank and full advice from representatives of the financial community prior to making its final decisions on major financing operations.

Meaning that this is a secret meeting that will be closed to the public and the discussion notes will be kept secret as well.

I am betting they will be in discussion about the Fed being in big trouble and the banks and title insurance companies and other stakeholders. The system is unraveling and the banksters know it all the way to the top.

It's time to take a road trip!!!!

This makes me sad, mad, and care-free all in one. Man I hate Earth sometimes.

reply to post by Absco


I hear you dude. Some times I think the .01% want to drag us all down into some hellish dystopia. The cause of all of this malinvestment, corruption, greed and insanity has to be some demonic force. It is hard to think that humans can be so depraved they will rape the world for ravenous greed.

I like George Carlin's take on this :

Thank you for posting the source document, I read it and found something there that I think you should have quoted as well.

Treasury staff will provide a technical briefing to the press on the day before the committee meeting, following the release of a statement of economic conditions and financing estimates. This briefing will give the press an opportunity to ask questions about financing projections. The day after the Committee meeting, Treasury will release the minutes of the meeting, any charts that were discussed at the meeting and the Committee's report to the Secretary.

I'm not quite so panicked now about a secret meeting.

reply to post by wayouttheredude


his speech reminded me of this...

reply to post by charles1952


I am guessing the notes of that meeting will be highly redacted. I see your point but the language of the document I linked in seems to refute the full disclosure of the meeting minutes.

The sad part is that what could we actually do about it. I'm not just talking about the meeting but this whole nonsense. Obviously this is another topic for another thread and the whole point to the website but man, it's days like today that I'm analytical enough to make a stand and to try and do something about this. Which will lead me either to jail or death. I just don't know what to do. I just don't know.

Originally posted by rogerstigers
reply to post by wayouttheredude

 

his speech reminded me of this...

Reminds me of this

reply to post by charles1952


...if there is a secret meeting you will never know about it........duh!
we are all screwed, had, taken to the cleaners.........the pob will do what they want, when they want, how they want. you thought you had some say in this stuff. ha ha.
even the ows is just to let the peoples let off some steam. If the pob want to stop it they will...........
go back and listen to the carlin clip......seriously.......we are not in the club and when it all goes down....you are had.
watch the news.......5 years ago gadaffi was in the club, he was sold out, iraq was sold out......iran is probalby next and israel too.........we have been bought, sold long ago..........and the bill of sale is in the fed. trust me. we are done. slaves we are all unless you are in the group that has "no name" and has meeting that you will never ever hear of...........silly to even think otherwise ......the pob are not stupid and it has taken them thousands of years to get us all corralled.......we are slaves people......slaves. just chose your master that is all........

reply to post by InformationAccount


Heh.. that's a scene from Brazil, isn't it?

reply to post by wayouttheredude


Thanks for posting this, OP. In reading it over something came to mind. There was a ruling 2 days ago by the Massachusettes Supreme Court that rules most of the foreclosure sales done in the last 5 years are void. Think a moment on what that would do to the banks in question in terms of lawsuits being filed against them for fraud. It may possibily be big enough to trigger this kind of meeting to take place, you know... good old boys circling the wagons so to speak.

When the potentially millions of lawsuits are added to the complaints filed by investors in MBS, we think the banks will finally be revealed as wholly insolvent. The only other way it could happen faster, is if the average American home owner, realizing he may never obtain clear title to his home (short of an indemnity from his bank), finally stops making his monthly payments on his invalid note (which completely lacks a valid security instrument). In this way, the existing insolvency of banks would be recognized in a matter of days rather than months or years.

Sourced Article

There is also an interesting ATS thread on the ruling found here: BOMBSHELL: Mass. Supreme Court Rules That Most Foreclosure Sales From Previous 5 Years Are VOID

Originally posted by Absco
The sad part is that what could we actually do about it. I'm not just talking about the meeting but this whole nonsense. Obviously this is another topic for another thread and the whole point to the website but man, it's days like today that I'm analytical enough to make a stand and to try and do something about this. Which will lead me either to jail or death. I just don't know what to do. I just don't know.

you are right to be miffed at it. I am too. there is little we can do but maybe and i mean maybe choose our master. we are all slaves........we lost the right a long time ago and we have been brainwashed into thinking we are a free society......we are not free, nor are we liberated.......and the ows movement.......it is little more than the pob letting us minions let off steam. they are testing the waters to see how serious we really are..........you either work for the "man" or you work for someone who works for the "man". none of us are free, including obama, the senators, the ows chanters..........as long as there is a banking system(of which we all are slaves too, I see no way out if you are to live in this society)........we are stuck as slaves.I am one........we are all slaves . there is no way out except death. Gadaffi knew this..........that is why he was taken out. anyone who dares to stand up is taken out. Iraq was taken out.........anyone or thing that has worth and is owned.......and everything is.......if it tries to fight against it(PTB, powers that be) will be "taken out. It won't be pretty nor nice because they want to make a point......fight back and we will remove you and make you an example...............................do easier to not struggle.

reply to post by MyMindIsMyOwn


I had the same conclusion as you did there. TSHTF day has arrived for the big banks the government and everyone involved in this from the title insurance industry, the banks, the government and the government retirement accounts that are heavily exposed to these derivatives contracts and CDS notes.They have to figure out how to unravel this mess before it unravels the world economy.

The following documented minutes from their August 2nd meeting at the same location might give us some idea of what they're going to be speaking about:
www.treasury.gov...

The five largest outlay categories were defense, Social Security, Medicaid, Medicare and interest on the debt.

DAS Rutherford then turned to deficit forecasts. A recent survey of the primary dealers revealed that they expect the deficit in FY 2011 to total $1.358 trillion, more than $70 billion below their estimates during the last refunding. It was noted that many forecasters are expected to change their figures after enactment of the budget deal. Generally, however, most estimates assume the deficit will fall to below $1 trillion by FY 2013.

Director Kim then turned to a discussion of the Treasury Inflation Protected Securities (TIPS) program. He noted that Treasury remains pleased with demand for inflation protection, particularly given Treasury’s goal to gradually increase TIPS supply. For the calendar year, Treasury expects to issue over $125 billion in TIPS. As a percentage of the portfolio, TIPS have stabilized at approximately 7 percent.

And this topic is most likely going to be discussed:

Several members asked if Treasury was going to bring back the supplementary financing program (SFP) in light of the debt limit increase. DAS Rutherford explained that no decision had been made at this point regarding the SFP, but he noted that the implementation of the debt limit increase over the next several months would make it difficult to bring the program back in the near term. Rutherford explained that much of the initial increase in the debt limit would be used to restore the accounts affected by the extraordinary measures used by Treasury since May 16.

As well as this:

The Committee then discussed the implications of a potential downgrade of the U.S. sovereign credit rating. None of the members thought that a downgrade was imminent.

NONE of them believed that the US credit rating was going to be downgraded? I find this hard to believe. I guess their astonishment will be discussed at this next meeting.

Turning to rollover risk, the presenter stated that the risk is likely low since Treasury debt is denominated in dollars. The presenter suggested that floating rate notes could reduce rollover risk.

I'm sure this is going to be discussed, too. I wonder how many are going to be changing their stance on this?

And the minutes concluded:

In conclusion, members agreed that there was much more work that needed to be done with regard to maturity extension and the optimal distribution of debt. This was recommended for discussion at the November quarterly refunding.

The meeting adjourned at 12:00 PM.

The Committee reconvened at the Department of the Treasury at 5:00 p.m. The Chairman presented the Committee report to Secretary Geithner.

A brief discussion followed the Chairman's presentation, but it did not raise significant questions regarding the report's content.

The Committee then reviewed the projected financing for the remainder of the July through September quarter (see attached).

The meeting adjourned at 5:45 p.m.

So, from the previous meeting minutes, the meeting on November 1st is NOT an emergency/secret meeting. This is just one of their usual quarterly meetings, but I'm sure it will be an important one considering the issues. I'm sure many will be discussing how they could have been so wrong regarding the topics I highlighted.

Like I've said so many times before, we'll just have to wait and see.

Secret meetings are good for 200+ points on the DOW. They eat this stuff up!

I don't care if they meet up, it's not as if they have any real control over anything.

This thread is a lot of smoke with no fire.
The meeting discussed is NOT a secret meeting. It is a normal quarterly meeting and nowhere in the link does it specify that the 0.01% have been called to attend. If I'm wrong or I've missed something, please point out where the rich and powerful have been asked to or are planning on attending.

I still think that the protesters should descend upon this location and remain for the duration of the meeting, but it's not right to make something out of nothing to stir up hype and illicit an emotional response.

reply to post by wayouttheredude


Sounds like a PERFECT place for all the OWS folks to get to know each other!! Imagine all the movements from all the cities converging there!

reply to post by getreadyalready


I think you might be right on that. A large crowd gathered in the street from #OWS would speak to the urgency of some serious actions from treasury and the banks to fix the mess they have made of the global and US economies.

All the eggs in one basket.Go smash them!