1 Month Bill Offered At -0.005%; 3 Month At 0.000%

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Thu, 06/23/2011 - 09:35 | 1394338 Cognitive Dissonance
Cognitive Dissonance's picture

Flash Crash...............Bitches.

The one month at -0.0005% brings new meaning to the term "Pay the man".

Thu, 06/23/2011 - 09:41 | 1394386 kaiserhoff
kaiserhoff's picture

Money for nothin' and chicks for free;)

Thu, 06/23/2011 - 09:53 | 1394419 Josh Randall
Josh Randall's picture

Cue Plunge Protection Team...ready in in 5...4...3...2...

Thu, 06/23/2011 - 10:07 | 1394497 karzai_luver
karzai_luver's picture

nothin' fo money and hoes for rent



Thu, 06/23/2011 - 11:02 | 1394831 wandstrasse
wandstrasse's picture

and chicks for free

for free bitchez?

Thu, 06/23/2011 - 09:54 | 1394422 HelluvaEngineer
HelluvaEngineer's picture

Trash holding up well today.  CMG green, BIDU about to go green.  Obviously great stores of personal wealth.

Thu, 06/23/2011 - 10:14 | 1394579 oogs66
oogs66's picture

i checked google trends....flash crash dropped back to almost zero...now that no one is expecting it, maybe we can get it

Thu, 06/23/2011 - 10:40 | 1394736 10kby2k
10kby2k's picture

5 year TIPS has been negative for a year.

Thu, 06/23/2011 - 09:31 | 1394342 Cassandra Syndrome
Cassandra Syndrome's picture

Nobody wants to touch commodities as well. So where else can the funds go?

Thu, 06/23/2011 - 09:42 | 1394377 Ray1968
Ray1968's picture

Funds are getting low. Might as well just buy some beer and consume it. Then recycle the liquid waste back to Mother Earth. 


That's what the government is doing to our future... P*ssing it away.

Thu, 06/23/2011 - 09:53 | 1394442 konputa
konputa's picture



It's about the bier bitchez. I'll have something Belgian.

Thu, 06/23/2011 - 10:03 | 1394476 Kayman
Kayman's picture
“We don't have a precise read on why this slower pace of growth is persisting.”

Fed Chairman Ben Bernanke A primer in economics for Ben: 1. Printing is not savings. 2. You have a demand problem. 3. You have a debt problem, relative to incomes. 4. New debt must be paid from future earnings. Ergo, no future earnings means new debt is a drag on the economy. Ben.... they want you to come to the Dean's office....
Thu, 06/23/2011 - 09:36 | 1394346 Edward Beargman
Edward Beargman's picture

Twist and shout!

Thu, 06/23/2011 - 09:37 | 1394347 Boston
Boston's picture

Any day now, I'll start liquidating my Treasury portfolio (mostly 5 year).

But not yet.  First, Bill Gross has to start buying...... 

Thu, 06/23/2011 - 10:03 | 1394483 drom
drom's picture

You must be dumb enough to think your smarter than Bill Gross

I am sure Groos is still shorting Treasuries and dollar cost averaging the short.  Bill Gross is not a short term trader so allthough he has not done well so far, this is only the very beginning of his trade.  He is most likely dollar cost averaging in then will hold for years, then all the idiots that thought his trade was over and done after 3 months will eat their words.

Thu, 06/23/2011 - 10:07 | 1394521 Boston
Boston's picture

Um, I went LONG 10 year notes in Feb, and my profits are locked in.  Bill Gross went flat/short.    

Who's the dummy, dummy?

Thu, 06/23/2011 - 11:06 | 1394897 Goldust
Goldust's picture


Ester: Who you calling ugly sucker?

Fred: YOU!  I could push your face in some dough and make gorilla cookies.

Thu, 06/23/2011 - 13:44 | 1395592 Bananamerican
Bananamerican's picture

Ester: Fred Sanford, you're a messy fool!!

Fred: uh, an, an' you a cessy pool!!

Thu, 06/23/2011 - 10:11 | 1394555 Voodoo-economist
Voodoo-economist's picture

you shouldnt take bills public words for granted. remember, monetary policy must be surprising to have an effect.

Thu, 06/23/2011 - 13:53 | 1395609 fallout11
fallout11's picture

Right. Bill often says one thing (for public consumption) and then does the opposite, or later reverses course. He even contradicts himself from time to time.  If you like I can dig up some examples. He did not start investing yesterday after all.

Thu, 06/23/2011 - 09:33 | 1394350 kito
kito's picture

yes pay the cat burgler to guard your money

Thu, 06/23/2011 - 10:03 | 1394484 d00daa
d00daa's picture

No, better to be fully invested in equities, right?  Dow 15k bitchez!!!  Fucking moron.

Thu, 06/23/2011 - 10:25 | 1394608 kito
kito's picture

???? Youre long treasuries????

Thu, 06/23/2011 - 09:37 | 1394351 AUD
AUD's picture

The Fed Funds 'target' Rate is not quite at zero yet. There's still some room to move.

Thu, 06/23/2011 - 09:33 | 1394354 VogonPoet
VogonPoet's picture

Why do people buy treasuries of one or three month duration at effectively 0% interest. Why not just keep the dollars and save on the transaction costs. Seriously im curious where the buying comes from and why. Thanks.

Thu, 06/23/2011 - 09:35 | 1394365 Dr. Engali
Dr. Engali's picture

Because they are stupid. And some funds have to be invested per their prospectus.

Thu, 06/23/2011 - 09:39 | 1394366 Quintus
Quintus's picture

No problem with that approach if you only have $100 to invest, but if you are managing $10 billion you can't put it on deposit at a bank and you can't put it under your mattress.

Thu, 06/23/2011 - 09:43 | 1394384 VogonPoet
VogonPoet's picture

Wouldnt I keep the cash in the same place I keep the trrasury notes, where ever those are?

Thu, 06/23/2011 - 09:46 | 1394390 Cognitive Dissonance
Cognitive Dissonance's picture

Explain what you mean by 'cash' if you don't mean currency. Because non currency 'cash' needs a holding vessel such as a savings account or CD, money market fund or a treasury bill. 

Thu, 06/23/2011 - 10:15 | 1394544 Dr. No
Dr. No's picture

or a mattress....

EDIT: of course for a mattress, you need 'cash' currency, i.e. pieces of real paper.

Thu, 06/23/2011 - 13:11 | 1395467 cocoablini
cocoablini's picture

I think you would be safe in the low mid range- where you will not get skunked by falling prices( long) or submerged by negative- I need it now borrowing- short notes.
Hanging on to currency and cash is very,very hard in deflation.
It gets stolen, it gets taxed, it gets diluted, it gets confiscated(reverse repo) and swapped for debt.
Yes, the dollar is essentially trash, but its a transactional vehicle that everyone needs. And when they need it, they need it NOW.

Thu, 06/23/2011 - 09:52 | 1394437 spartan117
spartan117's picture

You can elect to place your funds in a zero percent certificate of indebtness.  Like the name states, you get zero percent in this "account".  You can check it out at treasury direct. 

Thu, 06/23/2011 - 09:54 | 1394451 buzzsaw99
buzzsaw99's picture

cool nic

Thu, 06/23/2011 - 09:39 | 1394368 treemagnet
treemagnet's picture

In a cruel twist of irony.....safety.

Thu, 06/23/2011 - 09:36 | 1394370 kalum
kalum's picture

Keep the dollars? Where? In the matress?

Thu, 06/23/2011 - 09:56 | 1394458 spartan117
spartan117's picture

How about Chipotles?  CMG up $0.72.  Good lord.

Thu, 06/23/2011 - 09:40 | 1394372 Boston
Boston's picture

T-Bill buyers?  

Uh, how about today's S&P (and HY and oil and any other risk asset) sellers?

Thu, 06/23/2011 - 09:47 | 1394410 More_sellers_th...
More_sellers_than_buyers's picture

love the name...

Thu, 06/23/2011 - 09:39 | 1394364 snowball777
snowball777's picture

Hey Ben, how much to hold these for a month?

Thu, 06/23/2011 - 09:41 | 1394375 Cognitive Dissonance
Cognitive Dissonance's picture

He already has you by those. The question is, how much to hold this?

Thu, 06/23/2011 - 09:59 | 1394454 Silver Dreamer
Silver Dreamer's picture

We are paying him, and we are not holding it.  It's inside us.

Thu, 06/23/2011 - 10:03 | 1394482 fuu
fuu's picture

Well we are holding it with a sphincter.

Thu, 06/23/2011 - 09:36 | 1394373 hugovanderbubble
hugovanderbubble's picture

Credit Agricole is in Default. World Must know it

Thu, 06/23/2011 - 09:46 | 1394391 PY-129-20
PY-129-20's picture

Dexia, Santander

Thu, 06/23/2011 - 10:29 | 1394666 ZeroPower
ZeroPower's picture

Largest bank in the world by bank deposits. Not so fast there...

Thu, 06/23/2011 - 09:40 | 1394374 GeneMarchbanks
GeneMarchbanks's picture

OT2 is it? QE3?

Thu, 06/23/2011 - 09:42 | 1394381 alien-IQ
alien-IQ's picture

I suspect that it's only a matter of time before saving money is considered an act of terrorism.

Thu, 06/23/2011 - 09:45 | 1394402 Cleanclog
Cleanclog's picture

I wish that were funny.  But when TPTB get scared they do make all kind of "new rules" and saving money, holding gold, and feeding your children instead of theirs could become "illegal and treasonous".

Thu, 06/23/2011 - 10:00 | 1394463 Silver Dreamer
Silver Dreamer's picture

Citizen, you must be in debt.  To not be in debt is economic terrorism...  sure, why not?

Thu, 06/23/2011 - 14:00 | 1395649 fallout11
fallout11's picture

Ignorance is strength!

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