As 4 Week Bill Auction Closs At 0.000%, Bill Rates Now Negative Through November
That today's just completed 4 Week auction was not surprising: it closed at 0.000% - after all where is that money going to go: Bank of America? Gold (don't answer that)? Spam? What is surprising is that when it comes to preserving copious amounts of cash, investors are willing to bid up the entire Bill curve not just overnight, but well over two months. That's right - as seen on the second chart below, the entire curve is now negative through November!
4 week acution:
Curve:
(3 votes)
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Ummm...this is bad...right?
Not if you're into protracted recessions and dime-on-the-dollar real estate values.
Pre-Mutha-F'n-cisely.
Hell NO!! BDFD!!!
In a real free market this would never happen. This only happens because of central banks, and their private bankster masters.
Put your weapons down. I'm happy to pay you to hold my money. I know you'll keep it safe.
Yours,
Jon Sheeple-Doe
And equities are pricing Shangri La as usual. What a joke, lol.
This is bullish
I know you meant to write "bullshit."
Fixed!
+1 for avatar of the month. Former winners include Sudden Debt, SmiddyWesson, Pladizow, Caviar Emptor, Davey Jones, Long-Juan Silver, and the dude smashin' his head bloody on the piano...
I hear ya... but it was a keyboard, not a piano...
We cannot forget the mesmerizing Muir?
My vote for next month is that bug guy. I chuckle whenever I see that thing as I try to smush it.
pods
Username and Avatar are true stories.
Guess you never saw Speedy's avatar (o)(o) Boing, boing! :>D
I think your onto something with this spam as hedge.
People do want spam.
ever tried to eat gold? shit's disgusting.
Of course, never, in the history of the world has a farmer NOT accepted gold in exchange for food. The same can not be said of fiat paper. LOL!!
Never? Obviously you've never been in a famine-stricken, war torn environment where gold has as much value as urine. Trust me, there are moments in time when gold is worthless, particularly to certain people.
That said, I'd agree that in MOST economic environments, gold is acceptable for trade of any kind. It's "lack" of value is purely dependent on time, place, and mindset of the populace.
Sure buys a couple of goats easy enough...
http://www.delafee.com/luxury-chocolate-gift.php
just business as usual in a world run by pschopathic liars. the implosion will be epic when it hits.
TBT
TBT waking up from the dead.
Give me your money. I will hold it for you for free. About that interest, well sorry.
At what point do you stop saying "liquidity trap" and start calling it a liquidity vortex?
When committee has voted on that. Better, make that 3 committees.
Is there a compression trade to be made by shorting treasuries and gold? People can't be willing to pay very much to have their money held. At some point, it makes sense to install private vaults . . . .
Compression trade is looking good. The equity market is completly high on hopium today, while everything else seems to be pricing in reality.
So the trade would be shorting treasuries and shorting gold, which will work unless we can have both hyperinflation and hyperdeflation at the same time . . . I just the see the equities as being untradable at this point.
It good if you want Washington and Wall Street to continue screwing you
So I says to my client.....I am going to take your $100 dollar.....and in 2 months give you back $98....and you are good wid dat.......yep....life is good
Two dollars seems like a small price to pay for the illusion of safety.
When the economy completely implodes, what will the Dow be 12500, 13,000? DOW 36,000!
QE3 details get leaked today?
Let me see do I want a nice shiny St. Gaudiens or a zirp bond(correction: NIRP bond) with 6% inflation. Boy that was easy. Hello, is this Gainesville?
SPY/ES bears getting killed right now. Looks like Robo-trader revenge day.
We need to get well above Dow 12,700 for any Robo Revenge.
So apparently the algos have figured out that Obama's "jobs" package is really window dressing for QE3?
And this is Bullish for Stocks how????
It is not bullish for stocks, but that does not matter anymore.
No news flow + ZIRP + HFT = S&P up. It's getting predictable. When I start trading it though you can count it out.
Buy the rumor, sell the news (?)
i.e. the rumor of QE3.
I'm calling it "Watch Out Friday."
The market is showing QE something going on. Fed buying it up just as they have over the past 2 1/2 yrs.
Any reason for today's ES ramp job and outright gold liquidation?
I can't find any news.
Michelle-Caruso Cabrera must have taken off her blouse or something.
Transitory.
Yeah that's definitely bullish.
Central bank are leveraging gold to prop up the EURO and underwrite PIIGS bailout. Simple, and very transitory. Very good for equities.
In my opinion its because silver looks coiled for a hyperbolic move and gold ready to hit $2500 way ahead of the big boys predictions for later this year. Silver is sitting right at or +/- various moving averages and is way behind gold in terms of local term ratios. If silver starts accelerating (as it will despite their bs intervention), its going to send gold parabolic as well, even as the increasingly insolvent entities using funny money to bid treasuries to zero while hf and esf operatives pump up the stock market with clound vapor systems who's legs are shaking already.
Unless S&P can hit 1000, Bernanke and Co. have zero chance of announcing QE3 but the real Fed action (short term) will be expanding swap lines to a few giant banks in Europe that are about to be run. By the Swap lines and QE3 amount to currency devaluation, which ultimately, short of a complete destruction of the global banking system and a 30 year depression, mass civil unrest and so on, is the only choice the bilderbergs and their ilk have. I heard there is a list of the members addresses circulating among low frequency traders.
Just a thought. Silver is still going parabolic as the lack of QE3 announcement at Jackson Hole is likely to be an excellent catalyst to drive S&P to or below 1000 and that will move us towards a QE3/4 panic along with a new version of TARP as the US realestate market and general economy will call on the last remaining tool of the Fed (printing) to keep the major Fed members and the largest European banks from going into meltdown mode. By the way, RobotTrader, if you look anything like your avatar and are actually a woman, I'd love to bump into you some time.
Just a thought
Duffminster
Buying to open SPY Aug 26th 110 and 108 puts. Like the rest of the world, it seems.
Epic pump for paper pushers, epic fail for those who bring real value to the economy. Pefect, the DOW and gold will be a 25,000,000,000,000,000,000,000 as the economy implodes. Sure, it's bullish.
Look ma, The market is up.
bull market leading cattle to slaughter...still a substantial amount of wealth waiting to be destroyed.
Buried beneath the market fireworks of last week was the CPI report. I have been astonished that it got so little attention.
You all do realize these 0% rates are amid a
SIX PERCENT ANNUAL REPORTED INFLATION, per last week's report?
No, don't go quoting alternate CPI. It doesn't matter. The official number is what sets SS pension payouts in January (the September CPI does, if it holds this number, the whole system will blow up). It sets Medicare jacks. It Sets State And Local Pension Payouts In January.
AND IT DETERMINES THE SUPER COMMITTEE CALCULATIONS UPCOMING.
This 6% report was an earthquake that no one felt.
Yet.
crashis, I was having the same thought. 6% inflation no big deal?? And those are the govt. figures. What do you think it really is.
And with interest rates here, I guess Tyler does not want me to sell my gold, silver, or miners.
OK boss. :)
That 6% inflation is why QE3 is so unlikely.
And no, I'm not a gold guy. Don't care what happens to it.
I just know that it is a disaster position and in a disaster, no one will sell food for gold. It's societal window of value would seem to be pretty narrow.
"Storehouse of value" blah blah. There is no value if you're looking for food. Anyone with food would be insane to sell it for gold. If they want your gold, they can just sit back and wait for you to starve and then take it.
If you don't envision a future of tremendous disaster of that magnitude, then what you see is a system that will either endure or right itself. If so, why have gold?
It's just not a consistent array of thinking when you think of gold. But that's okay, people made money on tulips for a while too. This is not a derisive comment. It's just factual. People made money on tulips for a while, too.
QE3? No no no, you have it all wrong. The teleprompter is calling it a $2.5t "jobs" package.
Not worth thinking about. Won't pass the House.
Only the Fed can act, and they will, but it won't be bond buying.
CiO, you have always been logically consistent....I'll grant you that.
I think that if you ever wrote a movie review for "The Road" it would look something like this:
Now you see why the Bernank has to print in order to save Granny's pension.
simple rally in Bear market. looks all full of piss and vinegar. lot of turds in the toilet. No flush YET
Serious question: does this mean the market thinks there is some chance of Bernanke announcing negative interest rates on reserves?
Or Red FRN's or.... I need my Mommy. Ben's attempt to save his masters has guaranteed a prolonged ride on our bellies. Thanks Ben.
The circle jerk continues...Give us the money back, nothing gained nothing lost. And once we take Joe sixpack and his grandmother for another 1.5T you can have it back. No worries my little ponzi Kleptocrats, there will still be enough time to rally the bitch back up in time for bonus season.
BofA Cash Reserves= 0.000% :-)
http://www.bloomberg.com/apps/quote?ticker=NCLXX:US
Does this mean anything significant?
It was ignored becuase it will be ignored or fudged or changed or revised or adjusted.
You pick 'em.
I tried pushing <HELP> for explanation. It told me there was no explanation.
Oh Yeah! Spam! Spam and bacon and sausage and Spam gold and Spam Spam Spam silver Spam!
http://www.youtube.com/watch?v=anwy2MPT5RE
Edit: (singing) Spam Spam Spam Spam SPAAAAAAAAAM SPAAAAAAAAAM SPAAAAAAAAAM!
Eating spam is survivable.
When the people leave the building the stock market skyrockets. Dow up over 200 points, hah.
Insanity...
Shutterfly up $4 LULU and Hans way up. You can tell the days when the Fed induced buying comes in.