Thursday, February 3, 2011

The Latest in Treasury Plotting

Hot off the pt\ress. EPJ's Bob English takes a look at the latest minutes of the Treasury Borrowing Advisory Committee meeting where primary dealers advise various members of the Treasury on what type Treasury products might sell, given the Treasury's desperate attempt to figure out ways to raise even more money, as the deficit continues to soar.

Not surprisingly, English discovers:
Basel III is nothing more than an elaborate mechanism for artificially increasing demand for sovereign debt and globalizing banking regulation. Indeed, the minutes of the prior TBAC meeting revealed that new regulations aimed at "reducing banks' risk profile" are expected to generate at least $400 billion in increased US Treasury debt alone by 2015. However, this estimate has now exploded and has Treasury salivating.
You can read Bob's entire analysis here.

1 comment:

  1. If they are trying to come up with ways to generate treasuries that badly, I'm wondering at what point will the U.S. Government seek a portion (or even ALL) of the public's 401k's, 403b's, IRA's, etc to pay for 'stuff'.

    I trust these asshats as far as I throw them