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Is Something Serious Up at Treasury?
Economic Policy Journal ^ | 1/29/2011 | Robert Wenzel

Posted on 01/30/2011 7:21:25 AM PST by FromLori

On Sunday, Treasury Secretary Geithner will have dinner at Treasury with former secretaries of the Treasury.

What's up with this? There was no indication on the weekly Treasury schedule, put out just a day ago, that this dinner was planned. Very unusual.

On top of that, the Treasury put this notice out at 9:00PM on a Saturday night. Sure looks like a rushed meeting to me.


TOPICS: Government; News/Current Events
KEYWORDS: economy; treasury
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To: C210N
I have a very rakish blue and white porcelain vegetable strainer that will serve nicely in this situation.

Any Faraday cage will suffice, however.

51 posted on 01/30/2011 8:21:10 AM PST by Aevery_Freeman (Fear God and Government - especially when one tries to become the other!)
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To: NVDave
On Sunday, Treasury Secretary Geithner will have dinner at Treasury with former secretaries of the Treasury. What's up with this? There was no indication on the weekly Treasury schedule, put out just a day ago, that this dinner was planned. Very unusual. On top of that, the Treasury put this notice out at 9:00PM on a Saturday night. Sure looks like a rushed meeting to me.

Your track record is that you're right more often than wrong - - much more... what do you think?

52 posted on 01/30/2011 8:21:13 AM PST by GOPJ (http://hisz.rsoe.hu/alertmap/index2.php - World Disaster Map)
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To: FromLori

Turbo Tax Timmy just finished his tax return, and wanted input from the other gentlemen.

Seriously, it’s time to let the markets work, even if it means a short term spike in oil prices. I don’t care if the Saudi stock market falls by 80%.

It would be very helpful for the Obama Administration to announce immediate action in a plan to boost domestic energy supply.

I know, I’m singing “The Impossible Dream”.


53 posted on 01/30/2011 8:22:28 AM PST by Night Hides Not (If Dick Cheney = Darth Vader, then Joe Biden = Dark Helmet)
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To: DesertRhino
Just storing the gold bullets in corpses.
54 posted on 01/30/2011 8:23:18 AM PST by mad_as_he$$ (V for Vendetta.)
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To: FromLori
What's up with this?

Quite aside from the current topic--and regardless of any other topic under discussion--would it be possible for us to agree upon the above clause (and its variant, What's up with that?) as one of nature's verbal warning signs of a speaker or writer so firmly stuck in the stand-up comedy conventions of twenty years back that whatever follows could automatically be regarded as probable nonsense?

I know that's probably intellectually lazy, but every time I read or hear that, I can't help but remember Cliff Claven in Cheers in his stand-up comic period, punctuating every commonplace observation with "What's up with that?" and expecting laughter and looking more like a fool than ever.

Sorry for the rant, but stomach is currently in revolt against its contents, and it's got to come out one end or the other.

Regards,

Dunce.

P.S. Also unrelated to the current topic: Could we also hope for a moratorium on the use of the phrase "Back in the day" by anybody under the age of forty-five?

55 posted on 01/30/2011 8:25:26 AM PST by Dunstan McShane
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To: DesertRhino
Don't forget H2O!

Food does you no good without water.

You will need purified drinking water and water for hygiene.

56 posted on 01/30/2011 8:32:40 AM PST by Aevery_Freeman (Fear God and Government - especially when one tries to become the other!)
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To: Ev Reeman

When debt is money you must grow debt. It is what fractional reserve banking is all about.


57 posted on 01/30/2011 8:34:34 AM PST by FightThePower! (Fight the powers that be!)
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To: Bullish; CJ Wolf; houeto; Quix; B4Ranch; Whenifhow; Silentgypsy; blam; FromLori; Lurker; ...
More-grist-for-my-mill-and-I'm-taking-bets-on-whom-Monday's-opening-bell-shall-toll-for ping.

(Thanks null and void)

"Economic Holocaust" ping.

Increasing volume ping list watching the slow motion Economic Holocaust.

FReepmail me if you want on or off
The Comedian's "Economic Holocaust" ping list...


Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

58 posted on 01/30/2011 8:36:34 AM PST by The Comedian (It's 3am all over the planet.)
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To: mad_as_he$$

Dude, thats funny! And i guess gold projectiles would sure put an end to the practice of spray and pray.


59 posted on 01/30/2011 8:37:12 AM PST by DesertRhino (I was standing with a rifle, waiting for soviet paratroopers, but communists just ran for office)
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To: onona
Lessez le bon temps roulez !

Regardez la femme. Plus ça change...

60 posted on 01/30/2011 8:39:46 AM PST by danielmryan
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To: FromLori

Sounds like the Administration is rounding up support to raise the debt limit the same way they rounded up former Secretaries of State to support the START treaty. Obama knows that there is going to be a huge budget fight coming up.


61 posted on 01/30/2011 8:39:54 AM PST by kabar
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To: Night Hides Not

Banana Ben’s not going to stop intervening unless he is forced to because once he does the SHTF he may now be forced to anyway. I like the way ZH sums it up..

” And this is just the beginning. If there are any further rumors (or confirmed sighting) of protests in Jeddah and elsewhere, regional markets will go bidless, oil will go offerless, GETCO and other NYSE SLPs will go bankrupt in their attempt to keep the stock market alive, and Bernanke will just go, once the entire world realizes that Genocide Ben, which is what ZH has been calling him for quite a while now, is really much more appropriate an appellation for the man who gives a bad name to helicopters.”

http://www.zerohedge.com/article/saudi-stock-exchange-plummets-6


62 posted on 01/30/2011 8:40:02 AM PST by FromLori (FromLori">)
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To: ctdonath2


Today is a good day to die.
I didn't say for whom.

63 posted on 01/30/2011 8:41:38 AM PST by The Comedian (It's 3am all over the planet.)
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To: The Comedian

Down 220....gold up $30.


64 posted on 01/30/2011 8:42:33 AM PST by Vermont Lt (Don't taze my junk bro.)
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To: DesertRhino

I am reminded of the Chris Rock bit, where he adovcated Bullet Control not Gun Control. He was saying we should tax bullets to the point where it cost to much to shoot someone: “Brother, when I am going to come back in four weeks when I can afford a bullet and put a cap in your ass!”

Funny stuff. And yes, he was joking.


65 posted on 01/30/2011 8:45:38 AM PST by Vermont Lt (Don't taze my junk bro.)
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To: EQAndyBuzz

Hah - good one!

Geithner is doing exactly what he’s told: Ruin America’s economy before Barry’s term is up. Soooo....

Impeach the bastard Barry - High Crime: Fraud against the American people for lying about eligibility to be POTUS. Once that is documented, down he goes with his whole administration. Boehner steps up. Works for me.


66 posted on 01/30/2011 8:46:28 AM PST by Sioux-san
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To: FromLori
Accounting Tweak Could Save Fed From Losses
67 posted on 01/30/2011 8:48:38 AM PST by Minus_The_Bear
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To: Vermont Lt
Down 220....gold up $30.

I'll see your Dow down 220 and raise your Gold close to touching $1400. Silver will go back up to $30 probably before lunch.

That is, until the POMO/Plunge Protection Team comes in to dampen silver and boost the Dow.


Today is a good day to die.
I didn't say for whom.

68 posted on 01/30/2011 8:54:43 AM PST by The Comedian (It's 3am all over the planet.)
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To: kevslisababy
Well, I can’t afford gold, but stuff to use and barter, I can do that.

Time to thump the tub for the lowly 5c piece again. It's melt value is near 7c now. Probably when it gets over 10c they will start to disappear, the govt. will rant about hoarders (illegal to melt 'em) and replace them with a debased coin. That will create a secondary market like silver coins have.

Every time you have a couple of bucks to spare (I know, I know) buy a roll and put 'em in a drawer - all you're risking is 5c each. Since it has an intrinsic value it will increase in this inflationary economy. A $100 face value MIGHT bring $1,000 or more in buying power in the near future

69 posted on 01/30/2011 9:00:03 AM PST by Oatka ("A society of sheep must in time beget a government of wolves." –Bertrand de Jouvenel)
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To: FromLori
Banana Ben’s not going to stop intervening unless he is forced to because once he does the SHTF he may now be forced to anyway. I like the way ZH sums it up..

Banana Ben knows that Ron Paul wants to take away his keys to the car. Tea Partiers will stiffen the spines of those Pubbies in the House who will be wavering on doing more bail outs. The message we sent in November was clear: No More Bailouts!

Time for Wall Street to walk the walk on being capitalists. I say "let the markets work", no matter the short term pain that results. Real estate in the US has yet to bottom out, poorly managed banks need to fail, etc. There's a lot of dead wood that needs to be cleaned out.

Blankfein, Dimon, et. al. are not capitalists. In the time honored tradition of Jay Gould, they are "crony capitalists", where they want to rig the rules of the game. The last time around, Hank Paulson was there to do their bidding. Now they've got Geithner in the same spot. Thank God the Tea Partiers are there as a check and balance.

70 posted on 01/30/2011 9:02:12 AM PST by Night Hides Not (If Dick Cheney = Darth Vader, then Joe Biden = Dark Helmet)
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To: Minus_The_Bear

“The New York Branch of the Fed is leveraged more than 80 to 1. Meaning, that a loss of asset value of less than 1.5% would send it into receivership if it were a different kind of institution”

http://www.zerohedge.com/article/jim-grant-fed-now-business-manipulating-stock-marketshould-confess-it-has-sinned-grievously


71 posted on 01/30/2011 9:08:04 AM PST by FromLori (FromLori">)
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To: FromLori

Sounds like a “we need to get our stories straight” meeting.


72 posted on 01/30/2011 9:09:29 AM PST by NewJerseyJoe (Rat mantra: "Facts are meaningless! You can use facts to prove anything that's even remotely true!")
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To: The Comedian

I don’t doubt the gold price. Sa far as silver goes, we saw quite a squeeze on Friday, and most of the idiots probably had no idea why the price was going up. They will bail, and bail fast on Monday AM. It will be interesting to see where it opens. My guess we will see silver up $2.50 overnight, and brought back down to about another $1.25 at the open. That puts it somewhere in the mid $28’s?


73 posted on 01/30/2011 9:15:08 AM PST by Vermont Lt (Don't taze my junk bro.)
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To: Former MSM Viewer

“...Buy and hold cash, in the bank and under your mattress...”

You’re onto something...I agree

__________________________________________________

US Federal Reserve Notes lose value daily and banks aren’t paying enough interest to keep up with inflation. Holding Fed Notes only ensures you will lower your future purchasing power. I’ve bought PMs and more stable foreign currencies as quickly as I can with my Federal Reserve Notes.


74 posted on 01/30/2011 9:15:37 AM PST by JohnKinAK
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To: DesertRhino

Here is an interesting article if you are considering buying gold: http://www.projectworldawareness.com/2011/01/will-gold-be-currency-or-will-cash-be-illegal/

Just something to think about. . .


75 posted on 01/30/2011 9:22:01 AM PST by Library Lady
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To: Vermont Lt

What is your prediction for silver?


76 posted on 01/30/2011 9:56:19 AM PST by JPG (Work for conservative change like your country depended on it.)
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To: JPG

It will be up...aside from that I have no idea. That market is so twisted and it moves in synch with Gold one day, and with the whim of the wind the next. It SHOULD be up with gold and oil, but it depends on what the dollar is doing as well.


77 posted on 01/30/2011 10:16:42 AM PST by Vermont Lt (Don't taze my junk bro.)
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To: FromLori
"On Sunday, Treasury Secretary Geithner will have dinner at Treasury with former secretaries of the Treasury...What's up with this?"

You don't expect Timmy to shred all those documents by himsef, do you?

78 posted on 01/30/2011 10:21:37 AM PST by Joe 6-pack (Que me amat, amet et canem meum)
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To: The Comedian

I could drink to that!


79 posted on 01/30/2011 10:27:58 AM PST by Gator113 (I'm voting for Sarah Palin, Liberty, our Constitution and American Exceptionalism.)
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To: Former MSM Viewer

From http://www.bloomberg.com/markets/stocks/world-indexes/
DOW JONES INDUS. AVG 11,823.70 -166.13 -1.39% 01/28

From http://www.bloomberg.com/markets/stocks/futures/
DJIA INDEX 11,775.00 -169.00 11,938.00 11,964.00 11,760.00 01/28

Looks to me that the DJIA was down 166 on Friday, and the DJIA futures are down and additional 169, but I could be reading this incorrectly.


80 posted on 01/30/2011 10:28:09 AM PST by SubMareener (Become a monthly donor! Free FreeRepublic.com from Quarterly FReepathons!)
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To: FromLori

He just needs help figuring out Turbo Tax 2010.


81 posted on 01/30/2011 10:42:15 AM PST by bmwcyle (It is Satan's fault)
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To: Dunstan McShane
would it be possible for us to agree upon ...

No

I know that's probably intellectually lazy...

Yes

stomach is currently in revolt against its contents...

Gross

Could we also hope for a moratorium...

No

Next!

82 posted on 01/30/2011 10:46:12 AM PST by lonevoice (Where the Welfare State is on the march, the Police State is not far behind)
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To: FromLori
Treasury Secretary Geithner will have dinner at Treasury with former secretaries of the Treasury, What's up with this?

Watch for the color of the Business Case when he walks out the door.


83 posted on 01/30/2011 10:48:05 AM PST by Koracan
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To: Vermont Lt; The Comedian
"Down 220....gold up $30.

Nah.

Open down 38 with a quick rebound into positive territory and a close near +80.

Gold will be down 22 $ at 5:00PM.

Most of the Asian markets will be down tonight but will follow the US lead and rebound the next day.

The collapse that many are expecting will happen out of the 'clear blue' later. (when the big boys get the small guys back into the market)

My two cents.

84 posted on 01/30/2011 11:07:24 AM PST by blam
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To: SubMareener

yeah you are...look at the date...1/28


85 posted on 01/30/2011 11:19:25 AM PST by Former MSM Viewer
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To: Sioux-san

That would be the answer to many prayers.


86 posted on 01/30/2011 12:03:42 PM PST by mcshot (So this is how it feels to be flushed. The "that's impossible" days are upon us.)
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To: blam

And that, my friend, is why markets work. You think its going to do one thing, and I think it will do another. No government intervention needed. You pays your money, you takes your risks.

I DO think that you are right with the BIG takedown, but sometimes other events ruin even the best planning. They might just lay it down all at once. But then again, I still think that AQ has to be looking at this and thinking it would be a nice time to slap us again. (Or have I been reading too much Tom Clancy....?)


87 posted on 01/30/2011 12:37:09 PM PST by Vermont Lt (Don't taze my junk bro.)
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To: SubMareener
I believe down 169 would be what happened in the ‘after hours’ trading Friday. I know the futures weren't low like that in pre-market trading (which are also futures), so it pretty much has to be what the futures fell AFTER the market fell 166 for the day.
88 posted on 01/30/2011 12:59:06 PM PST by Kay Ludlow (Government actions ALWAYS have unintended consequences...)
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To: FromLori
The New York Branch of the Fed is leveraged more than 80 to 1.

I guess it's a good thing that their liabilities carry 0% or 0.25% interest rates.

89 posted on 01/30/2011 1:05:36 PM PST by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Ev Reeman
He and the fed are doing nothing to stop the national debt crisis, the exploding federal deficit and budget, rampant inflation and the devaluation of the American dollar.

An accident? (;>)

90 posted on 01/30/2011 1:16:12 PM PST by Stentor ( "All cults of personality begin as high drama and end as low comedy.")
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To: Koracan
Watch for the color of the Business Case when he walks out the door.

What? Can you explain?

91 posted on 01/30/2011 1:21:51 PM PST by GOPJ (http://hisz.rsoe.hu/alertmap/index2.php - World Disaster Map)
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To: The Comedian
That is, until the POMO/Plunge Protection Team comes in to dampen silver and boost the Dow.

No sleep tonight for Blythe. She's got her team "sacking up".

92 posted on 01/30/2011 1:41:46 PM PST by Stentor ( "All cults of personality begin as high drama and end as low comedy.")
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To: GOPJ
Somewhat humoristic : It goes back to Greenspan, Day Traders placed their bets according to, see below


..If the briefcase is bulging, so the
theory goes, it is full of evidence gathered by
Greenspan to persuade other members of the
FOMC to vote for a higher interest rate target. If
the briefcase is thin, then markets can relax because
no change is likely...

93 posted on 01/30/2011 1:43:43 PM PST by Koracan
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To: Vermont Lt
The Euro And Aussie Are Diving, As Weekend Of Chaos Portends More Pain Ahead
94 posted on 01/30/2011 4:22:46 PM PST by blam
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To: Koracan
..If the briefcase is bulging, so the theory goes, it is full of evidence gathered by Greenspan to persuade other members of the FOMC to vote for a higher interest rate target. If the briefcase is thin, then markets can relax because no change is likely...

LOL - thanks for sharing...

95 posted on 01/30/2011 7:17:35 PM PST by GOPJ (http://hisz.rsoe.hu/alertmap/index2.php - World Disaster Map)
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To: Aevery_Freeman

yeah but what do you DO with the pennies?....no one will take them to melt, at least that I know of...


96 posted on 01/30/2011 9:46:08 PM PST by cherry
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To: blam

Bpy, Am i off the mark this morning. This is why you dont take investing advice from idiots on online forums (pointing the finger at me!)

I sit and scratch my head. Money flowing into the dollar? Boy, if that doesn’t point to the state of the world, nothing does.


97 posted on 01/31/2011 5:32:32 AM PST by Vermont Lt (Don't taze my junk bro.)
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To: cherry
"yeah but what do you DO with the pennies?....no one will take them to melt, at least that I know of..."

It is illegal to melt down US coins/money.

Loop Coins is presently selling 100 Wheat Pennies for $4.25 per bag.

I called and asked if they were buying pre-1982 copper pennies by weight for the copper content. They said that they'd just had a meeting on that subject but have not reached a decision yet.

Two weeks ago I sold 129 pounds of scrap copper pipe for $451.50.

Saving nickels is your best choice at present. Your every day nickel is worth about seven cents presently...that's because it is 75% copper and 25% nickel. I have thousands of them.

98 posted on 01/31/2011 7:56:11 AM PST by blam
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To: Vermont Lt
Ha.

I'm a retired chip-maker.

I don't even take my own advice on stocks.

IMO, things are so manipulated at present that your 'guess' could be correct tomorrow...plunge protection teams and all.

Money is probably streaming out of the Middle East into dollars.

99 posted on 01/31/2011 8:00:36 AM PST by blam
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To: GOPJ

No clue. At all.

As a peripheral observation, it appears to me that the Obama administration has reached the limits of what fame, good looks and an Ivy League degree can accomplish, on more than one front.


100 posted on 01/31/2011 9:49:29 PM PST by NVDave
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