1 Month Bill: -0.005%

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Fri, 06/24/2011 - 10:52 | 1398411 alien-IQ
alien-IQ's picture

we're officially through the looking glass.

Fri, 06/24/2011 - 10:55 | 1398428 augie
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.  

Fri, 06/24/2011 - 11:01 | 1398481 P Rankmug
P Rankmug's picture

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

Fri, 06/24/2011 - 11:07 | 1398499 HelluvaEngineer
HelluvaEngineer's picture

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

Fri, 06/24/2011 - 11:53 | 1398680 Re-Discovery
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.

Fri, 06/24/2011 - 13:06 | 1398936 carbonmutant
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...

Fri, 06/24/2011 - 10:49 | 1398416 redpill
redpill's picture

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

Fri, 06/24/2011 - 11:10 | 1398493 Cdad
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...

Fri, 06/24/2011 - 12:06 | 1398715 Bay of Pigs
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. 

Fri, 06/24/2011 - 12:31 | 1398809 NotApplicable
NotApplicable's picture

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

Fri, 06/24/2011 - 12:48 | 1398879 TruthInSunshine
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.

Fri, 06/24/2011 - 13:51 | 1399071 Herbert_guthrie
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.

Fri, 06/24/2011 - 14:02 | 1399135 TruthInSunshine
TruthInSunshine's picture

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

Fri, 06/24/2011 - 10:53 | 1398417 MrBinkeyWhat
MrBinkeyWhat's picture

Physical PM's Bitchez. Sheesh!

Fri, 06/24/2011 - 11:04 | 1398478 Grifter
Grifter's picture

Exter's Pyramid, Bitchez

Fri, 06/24/2011 - 10:50 | 1398424 Danks18
Danks18's picture

STFR - Sell the Rips baby

Fri, 06/24/2011 - 10:51 | 1398427 Inflate-It-Out-...
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...

Fri, 06/24/2011 - 10:58 | 1398455 DrLamer
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.

Fri, 06/24/2011 - 10:56 | 1398429 Atomizer
Atomizer's picture

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


Fri, 06/24/2011 - 10:52 | 1398430 Pectoralis
Pectoralis's picture

so that's bullish, right?

Fri, 06/24/2011 - 10:52 | 1398432 achmachat
achmachat's picture

How could anybody prefer this to PMs?!

Fri, 06/24/2011 - 11:03 | 1398474 Pectoralis
Pectoralis's picture

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

Fri, 06/24/2011 - 11:06 | 1398497 BS_Merchant
BS_Merchant's picture

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


Fri, 06/24/2011 - 11:03 | 1398487 Boston
Boston's picture

I like BOTH.

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

Voila!  Free PM's!

Fri, 06/24/2011 - 11:54 | 1398689 WonderDawg
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.

Fri, 06/24/2011 - 10:52 | 1398433 americanspirit
americanspirit's picture

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

Fri, 06/24/2011 - 10:54 | 1398439 PaperBear
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.

Fri, 06/24/2011 - 11:36 | 1398624 ZeroPower
ZeroPower's picture

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

Fri, 06/24/2011 - 10:54 | 1398440 ElvisDog
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.

Fri, 06/24/2011 - 14:25 | 1399250 painequalschange
painequalschange's picture

It's so crazy it just might work.

No need to sieze 401k's at all.


Fri, 06/24/2011 - 10:54 | 1398442 carbonmutant
carbonmutant's picture

Bang the Gong...

Fri, 06/24/2011 - 11:11 | 1398519 Fundemental Pri...
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)!

Fri, 06/24/2011 - 11:01 | 1398449 Debt Rolling
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. 

Fri, 06/24/2011 - 11:05 | 1398484 achmachat
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!

Fri, 06/24/2011 - 10:55 | 1398450 ivana
ivana's picture

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

This is just amazing!

By the way, cash anyone?

Fri, 06/24/2011 - 11:07 | 1398488 Cheesy Bastard
Cheesy Bastard's picture

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

Fri, 06/24/2011 - 10:56 | 1398453 alien-IQ
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?

Fri, 06/24/2011 - 11:22 | 1398546 el Gallinazo
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.

Fri, 06/24/2011 - 10:58 | 1398456 Vinny
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. 

Fri, 06/24/2011 - 11:01 | 1398459 Zing
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!

Fri, 06/24/2011 - 10:57 | 1398460 The Axe
The Axe's picture

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

Fri, 06/24/2011 - 11:00 | 1398473 Haywood Yablomi
Haywood Yablomi's picture

I share your pain.

Fri, 06/24/2011 - 10:57 | 1398461 Goldtoothchimp09
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.

Fri, 06/24/2011 - 11:05 | 1398479 the not so migh...
the not so mighty maximiza's picture

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

Fri, 06/24/2011 - 10:58 | 1398465 Haywood Yablomi
Haywood Yablomi's picture

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

Fri, 06/24/2011 - 11:02 | 1398466 rubearish10
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?

Fri, 06/24/2011 - 11:00 | 1398469 Josh Randall
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

Fri, 06/24/2011 - 10:59 | 1398472 williambanzai7
williambanzai7's picture

Fri, 06/24/2011 - 11:02 | 1398485 Long-John-Silver
Long-John-Silver's picture


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