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I know this is OT: but where do you put this? WTF? LOL Who in their right mind would touch car dealers? They get bailed out, then tell the government what they are going to do. This is funny.
General Motors Co. is preparing for an initial public offering that would sell 20 percent of the Treasury’s stake in the automaker and reduce the U.S. to a minority owner, said two people familiar with the plan.
The aim is to sell a fifth of the government’s 304 million shares, said the people, who asked not to be identified revealing private discussions. That would reduce the Treasury Department’s stake to less than 50 percent from 61 percent now. Final decisions on which owners will sell how many shares haven’t been made and may change, the people said.
A registration statement may be filed in August, aiming for a November stock sale, said four people familiar with the plan. The sale will probably raise $10 billion to $15 billion, depending on the company’s performance, the strength of the economy and the health of the IPO market, the people said.
buy, err rent the short, long and zero coupon bond for 2 years...until US has its funding crisis, then get out of dodge
position in WHOSX
Speaking of Cover...
I'm surprised Tyler Mathisen hasn't been made to sit in between MCC(s) & Ms Drury.
Not quiet the cats in a sack as it is with Ms Quick & Ms Drury but it has potential.
Our ever-loyal Primary Dealers, borrowing cheap and putting $21 billion right back in the kitty. What a nice racket. What did we ever do to deserve friends like them?
Primary dealers got nothin to do with it...I'm bettin it was the household sector again. hahaha
30yr bond today at 4.08% as money floods into long term treasuries at an ecliptic rate. Money is pouring out of the ponzi on Wall St. in the masses. 10yr is at 3.14%
No one wants to be in stawks anymore.
And the USD/UST gets to continue its reign as the One Eyed King in the Land of the Blind for at least another month.
The currency crash/unemployment wave kicks off beginning June 28, with markets shaking quaking event. The currency woes of July will build to a crisis point of insurmountable proportions by August 1, and the crushing economic reality will come shining through for all to see. This summer will be the absolute last peak in the markets structure, while this fall will be three months of vomiting. The summer debt explosions go to such heights as to create massive overwhelming hyper-inflation in Fall that sweeps across countries globally with such ferocity bringing down governments. Riots and mob unrest will become a regular news story as the currencies are shredded publicly and planetary panic to buy precious metals overwhelms the censors in the propaganda press. June 28 provides the flood word for the precious metals, as well as the floating away of silver from gold. New reorganized currencies will not gain support and will be laughed at when introduced. The metals, especially silver, will from June 28 onward express their own destiny separate from the currencies. -HPH
June 26-28 Gulf coast/Florida region, thunderstorms deluges, tornadoes/waterspouts, followed by flooding later. Tropical Storm forecast with 80% confidence. - Piers Corbyn (weatheraction)
Starting soon and over the remainder of this year the oil volcano will place pressures of irresistible magnitude on the populace forcing the relocation of tens of millions of Americans, creating chaos in America. Poison air and gas clouds will be visible even within the mainstream media. -HPH
Also, locusts, curious frog rainfall and the Mississippi turning to blood. I think Someone is unhappy with us.
Guys, I have a feeling that all these treasury auctions are a fake and profanation at least nowadays. Most probably nobody is buying anything, nobody is selling. They just print, if needed. I think it is total fake show for philistines.
Santelli gave it a "D" for dogshit.
I have to concur. Everything above 2 years is looking mighty poor now.
Verge of collapse.
So the primary dealers came in knowing that they would soon shlep the heap of steaming USTs on the taxpayers through the next "bailout".
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