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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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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


Fri, 06/24/2011 - 11:07 | 1398496 augie
augie's picture

Do elves come out from under 33 liberty street and buff that man's head? 6 years in the Marines, i've never seen anything shine like that. 

Fri, 06/24/2011 - 11:11 | 1398504 plocequ1
plocequ1's picture

+1000 for Adobe. Stock symbol ADBE

Fri, 06/24/2011 - 11:15 | 1398520 PaperBear
PaperBear's picture

I could stay laughing at this picture all day.

Thank you.

Fri, 06/24/2011 - 11:29 | 1398574 williambanzai7
williambanzai7's picture

And to the 4 Little Junkers, Ben, Timmah, Lloyd and Larry, A very good Juncker to you as well.

Fri, 06/24/2011 - 11:33 | 1398608 LMAO
LMAO's picture


That amplifier is the predecessor of all things transi(s)tory.




Fri, 06/24/2011 - 11:01 | 1398480 scatterbrains
scatterbrains's picture

Fischer coming up on Bloomie in a minute..

Fri, 06/24/2011 - 11:05 | 1398483 Long-John-Silver
Long-John-Silver's picture

Treasury bond bubble is obvious to all holders on physical PM's.

Fri, 06/24/2011 - 11:13 | 1398517 Boston
Boston's picture


Fri, 06/24/2011 - 11:17 | 1398522 Boston
Boston's picture


Fri, 06/24/2011 - 11:16 | 1398523 Boston
Boston's picture


I own a bunch of silver and gold.....all of which was paid for by riding the long Treasury wave.  If the sheeple want to buy Treasuries at stupid high prices, what's wrong with front-running them and later selling to them?

But don't get me wrong, the Treasuries are a trade. The PM's are buy & hold.

Fri, 06/24/2011 - 11:04 | 1398490 Alfred
Alfred's picture

The mainstay of US hegemony has always been the petro dollar. The competition has been the eruro. The competion is being killed chemo-therapy style. Yes, it hurts the body, but if it kills the cancer who cares?

We are not insane. This is economic warfare.

Oh, and those aircraft carriers... they're pretty bitchen too.

Fri, 06/24/2011 - 11:09 | 1398494 Note to self
Note to self's picture

Fort Cooper nuclear distration in 4  . . . . 3 . . . . 2 . . . .

Fri, 06/24/2011 - 11:06 | 1398498 Dapper Dan
Dapper Dan's picture

Spin this news Robotrader!


Fri, 06/24/2011 - 11:16 | 1398539 Zing
Zing's picture

Huge demand for paper, treasuries and dollar! /sarc

Fri, 06/24/2011 - 11:11 | 1398501 FranSix
FranSix's picture

Meh.  So you buy the near futures gold contract and sell the spot price to get around this foible, once gold goes into backwardation due to Dodd-Frank.

Fri, 06/24/2011 - 11:11 | 1398502 Cassandra Syndrome
Cassandra Syndrome's picture


Fri, 06/24/2011 - 11:13 | 1398505 Dr. No
Dr. No's picture

Are money markets going to break the buck (again) in this latest turmoil?  Will congress backstop money markets?  There is your ponzi: Pay the treasury to keep your money, congress bails out moneymarket to pay you back.

Fri, 06/24/2011 - 11:10 | 1398511 Cassandra Syndrome
Cassandra Syndrome's picture

Even demand deposits aren't trusted to park funds.

Fri, 06/24/2011 - 11:14 | 1398513 Superslam
Superslam's picture

It's one thing to have negative real interest rates, but negative nominal rates? Holy shit...US debt problem solved!

Fri, 06/24/2011 - 11:17 | 1398518 John McCloy
John McCloy's picture

And Ben loves it.Right on track for 80.00 oil, 1100 S&P, beat down in PM's and then he can get QE rocking and rolling again. The U.S. economy now requires QE since nobody else can fill gap to buy our debt.

Fri, 06/24/2011 - 11:13 | 1398528 DrLamer
DrLamer's picture

As vacuum tubes slowly realize they were all cheated by the great European fraud headline and soundbite machine,

Despite the fact that ZeroHedge bears the honour to be the first in the world english-speaking web-site, describing the problem (actually it is a catastrophe for the humanity) of the world-wide computer trading machines, acting as a HUMAN, having the rights as a human,

despite this very important fact I am sad to say that I am ordered to STRONGLY recommend Mr. Tyler to CLOSE ZEROHEDGE. 

All these discussions are useless and worthless. The Decision already made long time ago.

And continuation of nice tries to save The United States of America will be considered as an act AGAINST God's decision. Mr. Tyler, You are free to ignore this official message and free to try it again and again (as I did), but in this case You will bear the same punishment from Creator as most modern americans.



Fri, 06/24/2011 - 11:14 | 1398533 Zing
Zing's picture

So the tinfoil hat brigade is in town?

Fri, 06/24/2011 - 11:19 | 1398547 DrLamer
DrLamer's picture

So the tinfoil hat brigade is in town?

Well, I have heard the joke about tinfoil hat from 2004 as a standard response for my messages. How about to ask japan's people about it?

Are there any japanese people here? What do You think about the necessity of tinfoil hat for your kids now?

Fri, 06/24/2011 - 11:25 | 1398561 Zing
Zing's picture

Do us all a favor and stop posting.  If this board is such a waste of time then spend your time elsewhere.

Fri, 06/24/2011 - 11:43 | 1398622 DrLamer
DrLamer's picture

Do us all a favor and stop posting.  If this board is such a waste of time then spend your time elsewhere.

There is one big problem: while the Decision is made, NOBODY can start The Process.

Neither God, nor His Holy Saints can start, (neither me). There is no signal.

I have read here on ZH messages like "Lets finally start the apocalypsis!".

I here now give Mr. Tyler the privilege to determine the start of REAL CRASH (please, allow 1-2 weeks for preparations).

Mr. Tyler, if you really want to start the painfull way of re-constructing the US society, which will possibly lead into a crash of the country legally called USA, please, simply say now: "Ok, lets start the CRASH of the system NOW" here.

If Mr. Tyler will avoid to respond, other respectfull readers of ZH are welcomed. Additionally You can establish a voting "When to start a real crash?". (Real crash does not mean only the crash of PRICING on NYSE, known as DJIA. Real crash is much wider. Actually the crash of DJIA is a sign of healing of an economy).

Please say it.

(And I will write here very, very seldom.)

Fri, 06/24/2011 - 11:43 | 1398637 Zing
Zing's picture


Fri, 06/24/2011 - 11:40 | 1398640 the not so migh...
the not so mighty maximiza's picture

"We" don't have to start anything.  The process was started before we were born.  We are spectators in this 3rd rate bad acted stage show.

Fri, 06/24/2011 - 12:08 | 1398737 DrLamer
DrLamer's picture

Two days ago Mr. Bernanke promised that "everything will be Ok".

I promise here that the real crash will start when ZH (Mr. Tyler Durden, voting, Leo etc.) says. Lets see who is on charge.

No men with balls to simply say it?

Fri, 06/24/2011 - 13:52 | 1399082 Herbert_guthrie
Herbert_guthrie's picture

Out of Meds, eh?

Fri, 06/24/2011 - 16:16 | 1399629 HungrySeagull
HungrySeagull's picture

And out of money with which to pay for said meds.


Be careful what you wish for.

Sat, 06/25/2011 - 21:44 | 1401930 DrLamer
DrLamer's picture

From the lack of responses I have made a conclusion that moderm so-called americans prefer 30+ years of Sluggishly progressing schizophrenia.

No crashes, no revolutions, only socialism. Small shakes and socialism.

Ok, deal. (Please, allow ONE medium-sized crash within 1-2 weeks as a proof).

Fri, 06/24/2011 - 11:21 | 1398543 Zing
Zing's picture

BTW who the heck are you?

Fri, 06/24/2011 - 12:31 | 1398811 DrLamer
DrLamer's picture

BTW who the heck are you?

Short report about my predictions is here:

Fri, 06/24/2011 - 11:24 | 1398573 treemagnet
treemagnet's picture

You broke my "weirdshitometer", thanks alot.

Fri, 06/24/2011 - 12:28 | 1398790 NotApplicable
NotApplicable's picture

Not bad for an educated lamer.

Fri, 06/24/2011 - 11:16 | 1398531 lizzy36
lizzy36's picture


Fri, 06/24/2011 - 11:26 | 1398563 Fundemental Pri...
Fundemental Principles's picture

More paper to feed the TERMITES

Fri, 06/24/2011 - 11:29 | 1398593 earnulf
earnulf's picture

   There is no rail against the system.   We must fight the fight on the terms with which we are saddled.   Against all odds we must build our barricades and prepare our defenses for the hordes that will soon crash against them.   Tremble not as the dark pools discharge thier dastardly poisons and hold high the light of truth regardless of the sharp talons that seek to pull it down into the darkness of lies and despair.

  For though we are few and our numbers are scattered, we are the true believers, backed by the promise of redemption via the cleansing power of PM.

  All the non-believers and apostates will inherit the BM!


(okay, pontifical ravings off)

Fri, 06/24/2011 - 11:30 | 1398598 Zing
Zing's picture

The lunatics are really out today.

Fri, 06/24/2011 - 11:46 | 1398661 Caveman93
Caveman93's picture

So how many bong hits do I need to realize that this makes sense in some way, shape or form. We're paying them???? WTF!?

Fri, 06/24/2011 - 11:49 | 1398667 jal
jal's picture

China has a lot of US$ that it can use, through shell companies and institutions, to affect the future of the EU.

Diversification, control of assets, and improving cash flows is an objective that is not foreign to China.

I’m sure that China is not happy that it has so many of its eggs in the US market.

Getting involved deeper in the EU will prolong the shell game longer than expected and give China more control.

Keep your eye on the bouncing Chinese ball. The game is not over until China says so.


Fri, 06/24/2011 - 12:02 | 1398703 Catullus
Catullus's picture

I wonder how many fights with corporate risk and treasury departments there are around this. I suggested we post collateral in gold. The response I got back was "not funny". This is just epic retarded to use these fucking things as working collateral. You can't win. It's only a matter of time before a lot of people figure that out. And those swaps aren't worth dick in the SHTF scenarios.

Fri, 06/24/2011 - 12:30 | 1398806 NotApplicable
NotApplicable's picture

I wonder how much of this pressure comes from all of us with with 401 balances sitting in cash funds? Back in 2007, I went from a MMF to the closest thing they had to cash, which was still a fund that existed on nightly sweeps and T Bills. While I no longer contribute, I still have loan payments that go to the fund.

Perhaps this will be the first honeypot to be siphoned off into the longer-term Treasury space?

Fri, 06/24/2011 - 12:42 | 1398837 americanspirit
americanspirit's picture

Is this  a full moon day? I'll bet the psych wards are overflowing. Things fall apart - the center cannot hold.

By the way - where do you buy tin foil these days? I've tried aluminum and it doesn't seem to be able to pick up those vital messages from beyond the beyond.

Fri, 06/24/2011 - 12:51 | 1398889 TruthInSunshine
TruthInSunshine's picture

Tin has exploded in price due and is virtuously unobtaniumable to Bernankeconomics and Goldman/JPM/Glencore/LME metal warehousing scam.

Go with wax paper until that gets too pricey.

Fri, 06/24/2011 - 13:16 | 1398949 americanspirit
americanspirit's picture

Thanks TIS - I just made me a little waxed paper hat and sure enough, I'm getting messages. Only one word so far, repeated over and over - "doomed". My wax is melting - gotta go.

Fri, 06/24/2011 - 14:40 | 1399318 orangedrinkandchips
orangedrinkandchips's picture

Seriously, these dumptrucks are paying timmy to keep their money? Buy a fucking lockbox stupid shit stains, it's cheaper. tbt...

Fri, 06/24/2011 - 16:49 | 1399722 Spigot
Spigot's picture

They are moving money out of bank accounts...systemic risk.

Fri, 06/24/2011 - 16:49 | 1399723 Spigot
Spigot's picture

They are moving money out of bank accounts...systemic risk.

Sat, 06/25/2011 - 05:38 | 1400765 speedy
speedy's picture

You can say that again.

Do NOT follow this link or you will be banned from the site!