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Auction System Failure Forces US Treasury To Postpone 3, 6-Month Bill Auctions
While nobody is impressed by breaking equity and options markets anymore, since this has become a virtually daily ocurrence and the habituation level is high, bond markets, and especially the US government's "guaranteed" bond issuance machinery, are a different matter altogether. Which is why any time something out of the ordinary happens, people pay attention. Such as what happened moments ago when the US Treasury announced that it would delay the closing of the 3 and 6 month Bill auctions, originally scheduled to close today, to tomorrow.
The reason: "an error that occurred during a test of Treasury's auction system."
This is curious, as it implies there was a test of the system running concurrent with the actual bond auction. One wonders if instead of the stated reason, there simply wasn't yet another "glitch" with TAAPS, which as we reported in September, had an error due to an order by none other than Goldman Sachs, being stuck in the quere, for reasons unknown resulting in yet another abnormal 3 and 6 month Bill auction.
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Wow, that system's pretty much constantly in use, you'd think they'd have the bugs worked out by now.
Please do not worry.
It's just Skynet/NSA penetrating you by the back door.
Oh, wait a minute... that's not at all how I wanted that to sound. Ah, screw it. It stays.
AKA Goldman didn't get the price they wanted.
what a charade.
To paraphrase Dear Leader: "If I knew how to code I'd fix it myself."
Honest.
I can't make this shit up
I didn't make this shit up by myself...
Brought to you by the same folks that gave us healthcare.gov
And all the sparks at NSA Utah.
A "need to lie" moment.
.."you didn't make that shit up!"..
yea, the error is that buyers have figured out Charmin is a much cheaper and better brand of toilet paper.
Maybe is use share code from Healthcare.gov?
Just the part that talks to the NSA and the IRS.
As much as I would like to blame the wet weather...
My spidey senses, and our internal numbers, tell me that something is up in the real economy, and the smell of the .gov BS is getting stronger.
November was the wettest and worst month on record for us in 10+ years.
Somebody save us!
I gets all tingly looking at her.
Real tits.
She didn't grow those wet tits all by herself.
If you like your tits..., you can ,er..., nevermind. (didn't read far enough)
If you like those tits you can keep those tits. Or, you can look at government tits.
"I gets all tingly looking at her."
You mean you get all wet looking at her.
Tee-hee.
Must have taken some parts from the Treasury servers to fix the OCare servers over the weekend.
Like I keep sayin, it will be the machines that finally bring down this whole shitshow.
or at least they will be the excuse
Uh-oh... Failure of Treasury Auction is trigger event for ultimate collapse, no?
Most certainly a warning shot.
One may now walk out the door, or wait for the sprint.
Ah, before they came in need to declare the auction a failure they'll say the system has failed. O.k., another day makes it another try. One question: Will it be over by end of week?
Is the PBOC refusing to roll over its short dated bills ?
As it no longer wants dollar reserves,it is the next logical step.
I wonder what Minitru will tell us on the day that finally happens. Maybe some bullshit about technical issues forcing them to delay the audtion.
They announced that just last week. They converted all long term bonds during the "twist" Now they want cash and they are npo longer buying ANY bonds. Timber.......
Because?
Because... Obama.
Does the market really need any more supply on a day like this?
A bond market failure should be good for another 100 pts on the S&P.
Are these HPQ, or Dell Servers? Same shit Servers
The cracks in the dam keep growing...
http://www.zerohedge.com/news/guest-post-there-will-never-be-failed-us-t...!
LOL. I guess Brian Rogers needs to look for a new gig
This isn't a failed auction. Failed auction means that not enough bids were received.
Which actually did happen once before.
Back in the 70's
The Fed told everybody it was a pro rata award or rebid
Everybody rebid.
Auction cleared.
I don't suppose that people have noticed that they are systematically introducing instability into the internet. I suspect this is part of a longer term plan to get people to not expect the high level of performance that they once had taken for granted.
Glitchez ... Bitchez
Mortimer Duke: Turn those machines back on..
http://www.youtube.com/watch?v=B71HytDmEso
Not glitchez. They are patching with code designed to hide future market failures so that they can continue the illusion of normality while they help the big guys get themselves out of the hole.
The real reason is everybody buys Quarks now....
Bubbles Chronicles: Bill Still Is Pumping Quark vs Bitcoin - Collapse Is Near
All world has gone mad: Bill Still is pumping Quark! Just watch this video and remember how the Bubble stage looks like and what are the arguments presented to buy something "which definitely will go up." We must be very close to the Bitcoin final parabolic rise before the Crash. If Bill Still can not withstand the plot to get fast rich scheme, what can we tell about the other people? It is very interesting that Bill talks about another 30 crypto-currencies and there are at least 100 else are in existence. Why on Earth to buy Bitcoin at $1200 if you can buy "the better" Quark, which was pumped by Bill Still only to 4.5 cents by now (more then 2000% as Bill proudly has noted!?). Just Sell you Bitcoin now and move down the food chain - "it will be a sure thing: all crypto-currencies will go up once Chinese will be able to buy it, particularly after the Bitcoin will be Crashed." It looks like we have found finally our own youth portion and will spread our bets evenly among all 100 crypto-currencies, with this kind of sure gains how can we lose anyway? Can you imaging if India will join this crazy feast, what about Malaysia? You can monitor some of those Crypto-Currencies here: Crypto-Currency Market Capitalisation. Junkcoin is not doing well - must be something with its name ... all others are "solid investments". Can somebody tell Obama to put NSA to proper work finally? Just make the super duper NSAcoin with triple encryption, warranted from Spying and accepted for Tax payments and let Obama to Pump it a little bit ... 17 Trillion in Debt will be repaid very soon - at least we will have better roads and bridges. Can we get into this one as well at the start of Pumping? And yes, who needs Gold and Silver any more, particularly, when it goes nowhere in price or even down compare to Quark as Bill is reporting? All that dirt, billions of investments - who are those silly people buying all that Gold any more? http://sufiy.blogspot.co.uk/2013/12/bubbles-chronicles-bill-still-is.htm...
A lot of money came of nowhere to capitalize quark it would seem. Wonder who that could be?
https://www.youtube.com/watch?v=qvkXD4UgKBM
509 Bandwidth Limit Exceeded
They must be piggybacking ObamaCare on the the Treasury server.
I thought that Net Ludd warned the machines was gonna take over.
Not just break shit.
Glitch = cyber attack.
Should not have tossed Bebe under the bus.
somebody entered that 00000000 launch code just for shits and giggles
The printer's smoking at 33 Liberty, let it cool for a cold-boot.
Boy, they are smacking the metals down again. Oil is up, though. I feel like we're in the part where everything is reeling out of control. Brace for impact everyone.
Perhaps the chinese revenge for the over-fly was a 2 week strike on bond-buying ?