Combination of a word fag/faggot + illuminati. Secret society, member of which are faggots. Presumably the once, who want to establish New Gay World Order (NGWO).
Steve: Hey, John. Did you hear abot fagguminati?
John: Come on, Steve, you once again speaking about crazy conspiracy theories.
John: Come on, Steve, you once again speaking about crazy conspiracy theories.
by penumbrumobscurum July 30, 2023