1 Month Bill: -0.005%

Tyler Durden's picture

As vacuum tubes slowly realize they were all cheated by the great European fraud headline and soundbite machine, the scramble into the relative safety of Uncle Sam's paper is once again reaching a crescendo. At last check, the 1 month Bill was trading 0.000/-0.005, whereby people pay Tim Geithner to prevent them from investing in the worthless asset class known as stocks.

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alien-IQ's picture

we're officially through the looking glass.

augie's picture

I use to play a computer game when i was in high school called "American McGee's Alice." They finally released a new one 10 years later called "madness returns" and i can't help feeling that the madness never left.  

P Rankmug's picture

We're through the looking glass, down the rabbit hole, and into the matrix.

HelluvaEngineer's picture

What do you mean?  BIDU, TZOO, PCLN, CMG all going vertical.  Perfectly normal day in bizarro world.

Re-Discovery's picture

This market is in complete Stockholm Syndrome.  It knows things are horrible.  Worse than the worst.  But it now loves the hand that feeds them, i.e. the Central Banking Cartle.  Complete fantastical thinking.

A cult.  And all cults end badly.

carbonmutant's picture

Well the current Administration did promise "Change you can believe in"

They got the change part down, they're still working on belief...

redpill's picture

This is the most retarded thing I've ever seen.

Cdad's picture

At last check, the 1 month Bill was trading 0.000/-0.005, whereby people pay Tim Geithner to prevent them from investing in the worthless asset class known as stocks.

LOL!  2008 redux.  Funny, this used to signal the level of sheer terror in the system.  I guess Skynet securities has things firmly in control now.

Any minute now, P. Najarian over at the BlowHorn [CNBC] is going to come on air and talk about the VIX...because he always talks about it when it is falling signaling snorting bullishness for equities.  

And I'm also sure that the BlowHorn is going to talk about how money is flowing into fixed income [fixed at negative rates of return] because they always talk about money exiting fixed income as a signal to wild bullishness for equities, and the BlowHorn would not want to be perceived as biased in the direction of long levered up criminal syndicate Wall Street bankers.

Holding my breath...

Bay of Pigs's picture

Less than one thousandth of 1%?

Gee, even gold and silver have better returns that that.

$1408 and rising (200dma), otherwise known as the FLOOR for the POG. 

NotApplicable's picture

Sounds like you need to get out more. ;-)

TruthInSunshine's picture


I think I will imbibe is some fine Belgian Ale at my favorite pub tonight, and leave the dark and haunting images of this burning, fiat-infected PonziWorld behind, at least for a brief time.

Herbert_guthrie's picture

Now this is a plan and direction that I can believe in.

If it was my choice, I would give you a leadership position over the entire planet.

TruthInSunshine's picture

Some of my wisest decisions were made after much Chimay or Westmalle Tripel.

MrBinkeyWhat's picture

Physical PM's Bitchez. Sheesh!

Danks18's picture

STFR - Sell the Rips baby

Inflate-It-Out-Bitchez's picture

This has been the plan all along to solve our debt problem.  Now you PAY for the "right" to be able to lend them money.  Makes sense...

DrLamer's picture

Now you PAY for the "right" to be able to lend them money.  Makes sense...

Oh, no. This is not a "right". Forget these outdated capitalistic words and terms.

Start think socialiZm.

Now this is a PRIVILEGE.

And it will be GRANTED to persons close to financial mafia.

Atomizer's picture

I'll bet a new rosey ponzi headline is being typed right about now.


Pectoralis's picture

so that's bullish, right?

achmachat's picture

How could anybody prefer this to PMs?!

Pectoralis's picture

mr market seems to expect some kind of deflationary shock..

BS_Merchant's picture

...or the money is leaving equities and needs to find a shelter to ride out the storm


Boston's picture

I like BOTH.

Use the profits from the Treasury gains to buy PM's........

Voila!  Free PM's!

WonderDawg's picture

Ah, well, there's this: Gold is somewhat volatile, particularly lately, and some forecasts have it dropping to below $1000 before it ever hits $2000. And silver? If you bought at $49 you're probably wishing right about now that you'd put your money into t-bills. Something to think about. And I'm not anti-PM, I own some myself, but you asked the question, so there's your answer.

americanspirit's picture

We have all heard Einstein's definition of insanity by now - voila.

PaperBear's picture

Yep it is the most liquid place right now.

But that could change in a heartbeat.

The precious metal holders are wondering when these chumps will realise what they are fleeing to is also a worthless asset class.

ZeroPower's picture

Gold should do just fine until around $4-5k/oz... silver however, that POS isnt moving for the time being.

ElvisDog's picture

This is a brilliant plan by Geithner to solve the U.S. budget deficit. Increase the negative yield on U.S. Bonds to a high enough level. Use all means at your disposal to fuck up the rest of the world, and deficit problem solved.

painequalschange's picture

It's so crazy it just might work.

No need to sieze 401k's at all.


Fundemental Principles's picture

... Git it on

Or prehaps: The sound that your'e hearing is only the sound of the Low Spark of High Heeled Boyz

<well heeled boyz?>

or prehaps just a bunch of heels (qiuggly heading for the exits)!

Debt Rolling's picture

Rate capping is already -- unofficially -- in effect, because what sucker would place his money in a de facto losing investment (even according to the official CPI!) when there are currently safer fixed income/warehousing offers elsewhere? It defies elementary logic and sanity. Even someone seriously believing in the future of the US gov. would not do that. 

The guys bidding these auctions are not self-interested genuine participants. They are the Bernank himself, operating thru proxies. Nothing bad in this, as long as the FED admits that the federal funding is a complete and total Ponzi scheme. 

achmachat's picture

if you put it like this, it somehow could make some sense.
Still... Very weird way of getting things done. It is not exactly the stealthiest way!

ivana's picture

ha ha ha saved this screen for kids when they grow up

This is just amazing!

By the way, cash anyone?

Cheesy Bastard's picture

I hope you printed it.  I don't recall seeing alot of laptops in Mad Max or The Road.

alien-IQ's picture

wouldn't it make more sense to stuff the money in your mattress than to PAY the treasury for the privilege of buying their shit? isn't that a little like sending the IRS a tip with your payment?

el Gallinazo's picture

Depends and how flush you are and the size of your mattress.  Maybe a king size might handle the average investor.

Vinny's picture

That does it. I am selling everything I own so that I can obtain as many paper dollars as possible and then investing them into a savings account. I will be so rich by next year. Just hope our central banks don't follow in Belorussian footsteps. 

Zing's picture

Patience guys and dolls.  Greece is going through massive deflation and loss of confidence in the monetary system of the EU.  Their response? Pile into gold.  This is coming to the USA eventually so hold that physical gold!

The Axe's picture

retard market.....How would you like to be short CMG<SINA<NFLX    in a down 110 market.....

Goldtoothchimp09's picture

It's amazing to me that in our screwed up society -- the stock market is supposed to pay for everything.  Pay for our retirements, pay for pension obligations.  Pretty much pay for everything long term.  Yet, common stock has very little real value.  Most stocks pay a pittance in dividends.  So what does stock ownership "get you".  Not any real voting rights.  Not much for dividend payments to compensate you for your ownership.  Basically, a stock certificate shows you've got some "honorary" ownership.  Doesn't matter how profitable a company is...common stockholders get nothing.  AAPL at $320 "gets you" the same as AAPL at $220, $120, or $20 per share.  A certificate showing honorary ownership.  Why anyone pays any real money for an honorary certificate stupifies.  It's just a cultural thing.  Invest in stocks, it's what people do.  I have a feeling it's going to end up just like investments in beanie babies.  People will ask "What was i thinking".  They weren't thinking.  Just herding a cultural trend.

the not so mighty maximiza's picture

preferreds are the way to go if you want to own stocks.

Haywood Yablomi's picture

Or they can invest in NFLX.  That overpriced turd just won't seem to fall.

rubearish10's picture

Question: So who would buy this stuff? Doesn't the Treasury have a cash flow problem once the first redemption cycle occurs which should be about now?

Josh Randall's picture

One of the best quotes I've ever read TD: "people pay Tim Geithner to prevent them from investing in the worthless asset class known as stocks"

That is a definition of a PROTECTION racket if there ever was one