Everything Not Nailed Down Getting Sold

Tyler Durden's picture

The market has finally realized that "this" is getting real. As of the open everything, including USTs, has been sold off aggressively. Well, except for gold of course, but we all knew that. Gold just hit a new all time record above $1628. In other news, there will be a Republican press briefing at 10 am according to C-Span. Stay tuned.

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Flore's picture


TruthInSunshine's picture



I was going to mention this, too.

I miss the Ran Squawk feeds badly.


Back On Topic:

Everything not nailed down getting sold, and a lot of things in urban areas that are nailed down are getting torn up in the middle of the night and getting sold, too.

I saw a deserted 480 unit residential development yesterday. It was a PUD (Planned Unit Development) whereby some of the sites had a single dwelling, some had multifamily structures on them, and most sites were vacant.

Anyways, of the 15% to 20% of the multifamily structures that had been completed, which were mostly 12 to 24 unit buildings each, every single one of them had the outside AC units stolen (not a few or most, but all, with the wires cut and copper conduit stripped away. Some security guard that the bank or bagholder hired told me that not only has every single AC unit been stolen, but that thieves have been hitting breaking into foreclosed/unoccupied homes, and stripping all copper wiring from them.

Gotta love this recovery. Hank Paulson, Timmay Break It Again Jeetner, The Bernank and Obama are doing one helluva job, bitchez.

Popo's picture

And the Yen.  Oh oh.. the Japanese have got to be freaking out....

They're not going to be selling much this month...

BobPaulson's picture

Dust off the DOW 10000! ball caps and strap them on tight.

PulauHantu29's picture

20 Cities Where Housing Prices Are Still Dropping Like A Knife


Read more: http://www.businessinsider.com/20-cities-where-housing-prices-are-still-...

Smiddywesson's picture

So we have a vast shadow inventory of houses rusting at the pier.  Nobody is going to buy them and they can't sit empty without slowly being destroyed.

Bullish for the banks in this topsy turvy world

jmcadg's picture

There's been a spate of manhole cover thefts in the UK. Iron Ore bitchez.

Zero Govt's picture


Ransqueek guy was looking fuking ill yesterday, green face, shirt, ears!.. he's knocking on deaths door, give the guy a break ok

slaughterer's picture

U.S. Treasury to ZeroHedge:

"Don't you guys know?  It is debt deal discount day for all the Robo-traders on your site.  Buy NFLX, AAPL, AMZN, GOOG, etc.  Show your patriotic duty. Go long today.  Obama will not let you down.  Signed, Timmy.  P.S. Just signed my contract at head office of Goldman Sachs so I can watch my children grow up in NYC."

qussl3's picture

What about those new safe havens the AUD and NZD?

Its a new paradigm!

Permanently high plateau!

Quintus's picture

Not Gold or Silver though.

But, but......they told me that it would be a repeat of 2008 and metals would be dumped overboard as quickly as possible.

Not this time.  Loss of faith in unbacked paper currency bitchez.

GetZeeGold's picture


Screw 2008 bitchez.


Cash_is_Trash's picture

Raise the margins! P. Metals are getting feisty!

Long-John-Silver's picture

At this point even 100% margins will not stop this stampede

Hmm...'s picture

they told me that it would be a repeat of 2008 and metals would be dumped overboard as quickly as possible.

I will start by saying I have 100% of NO idea what will happen to metals.  however, IF metals are dumped it wouldn't be now.  It would be if/when the US is downgraded and IF the fools make the Pension Funds drop Treasuries because they are no longer AAA, and also IF the idiot exchanges do undue haircuts on Treasuries as collateral.  In that case you'd see margin calls and POTENTIAL selling of metals to cover.

also: metals face another possible headwind if/when a deal is made.  IMO the current rapid rise is due to the metals acting as a safe haven from UNCERTAINTY.  Once it is certain that the Govt goes on its spending spree then Gold/Silver will lose some (not all) of its luster.  It then goes back to being a boring holder of wealth.  Nothing wrong with being a boring holder of wealth... quite the contrary...  however parabolic moves in metals occur with uncertainty IMO.

the crash of the dollar, although a certainty, may still be a ways off. 

Quintus's picture

All valid points.  I agree that IF an agreement is reached shortly metals are likely to sell off (With lots of encouragement from the Bullion Banks who are sitting on masses of new shorts they need to cover) in a knee-jerk reaction.  Just like as the Euro pop on the so-called 'Solution' to the Greek issue being agreed last week.

However, like the Greek agreement, it seems to me that there is no good answer to the problem the US faces, and once the Debt Ceiling deal has been digested for a few days, and the pressure will resume and metals will proceed higher.  Again - just like the Euro deal.

Can-Kicking will no longer suffice to calm the markets, I feel.

Hmm...'s picture

I agree fully.

I hate every politician (except Denis Kucinich and usually not Ron Paul) and almost every finance person on Earth right now.  they have messed up so horrifically bad there is little to no way out. 

I wish I had the absolute devotion to the metals that some on zerohedge have, and could go "all in" into the metals.  But I have nagging doubts. 

Thus, I have tried to put myself into as "safe" a position as possible.  But the economic winds are way too uncertain given all that Big Govt and Big Biz have done.  Thus, I paid off all debt this year including my house once I found out it may not have been securitized by Wells.  Also CEF in my IRA.  But I have a sizable holdings of Treasuries in my 401k (what else can I put it in?) and over $100k in cash in a credit union (Took all my money out of that bastard TBTF Wells).

I hold some metals but not enough.  I am constantly afraid to pull the trigger on more.  That is my weakness and I get it...

am I safe enough?  who the hell knows.  According to some ZHers I should convert all my cash into Gold or Silver.  But that too has some risks...  thus, I sometimes post "are you sure" type of responses on ZH and at times I am junked to hell or called a socialist.  But I don't care because unlike others I don't worship gold... instead I see it as a very useful asset whose value I am having difficulty evaluating.   and unlike some of you I can't just go buying $100k worth of gold or silver based on comments like "Gold bitchez" or "Gold has maintained its value throughout time" (it has not, its value fluctuates although much differently than fiat).

Transformer's picture

Silver Bitchez!!!  That was good enough for me!

Raymond K Hassel's picture

Take a look at the miners - they are still cheap by any reasonable standard - they give you exposure to gold without paying 1600 an ounce plus - just be sure to hedge your paper bet with some of the things you might otherwise need physical for - unlike the PMs, you can buy physical food on sale with coupons. 

Boxed Merlot's picture

Miners are a good way to get exposure but here again the rule of law, and ultimately trust is a valuable commodity.  Governments have a way of laying claim to gold that is unlike any other "commodity" which is why the value of it above ground becomes almost sacrad.


As a holder of deeded mineral rights with proven reserves in CA, I've seen the US begin the seeds of reclamation during the Clinton era with the rewriting of BLM statutes limiting and tying up reserves out of the reach of the US citizen.  The closest thing to a personal federal reserve is a hole in the ground with a high grade ribbon.  Which is why land patents, assay offices and mints are such a threat to the current state of affairs.  Can't have the people of the US be soveign individuals, best to keep them "citizens" and "taxpayers".  Besides, our (s)elected officials are so much smarter and qualified to tell us what to do.

Pegasus Muse's picture

.... and unlike some of you I can't just go buying $100k worth of gold or silver based on comments like "Gold bitchez" or "Gold has maintained its value throughout time" ....

Just a bit disingenuous, don't you think, to conclude this is the only basis for ZHers' enthusiam with the shiny stuff. 

You might want to read/listen to more of James Turk, Bill Muphy, John Embry, Eric Sprott, Marc Faber, Jim Rogers, Felix Zulauf, Ben Davies and a host of others, who together manage ten of billions of their own and other people's money.  They have all concluded PMs are the place to be given the current macroeconomics and their decades of active investment experience.  While none of them AFAIK have written "Gold bitchez", no doubt they think it and have bought theirs in size. 


Thomas Jefferson's picture

You need to buy more metal bro.  Just do it.  Nothing will be safe including your paid off home.

owensdrillin's picture

I agree with buying more gold/silver but you just know it will get knocked back once a deal is made on the debt. It will take off from that point once the dust settles but that may be at a sub $1500 price.

No one can know for sure but based upon past senarios, it is unlikely that gold will continue it's constant move upwards.

If this comment comes up in the small print that it is showing on my screen, how do you get it to be larger?

Boxed Merlot's picture

I understand your reluctance.  Gold's most useful when held in trust by a sovereign power.  In the past, the US entrusted this virtue to it's inhabitants.  Not so much anymore.  If things get bad, the best  a gold possessor can do is get a one time shot at exchange.  The basic value to all commerce is trust.


The US is currently suffering from a populace that has become so jaded and distrustful of any and all forms of authority that I fear it's restoration may not occur with the current generation.  This did not happen in a vaccuum, it's on parade every day.  If the borrowing doesn't stop, our future generations will become ever more fearful and reluctant to engage in productive and meaningful activities and pursuits.


I'm in favor of equal application of uniform laws of bankruptcy and congressional control of providing sound currency for the people of the US.  These two items, with a cessation of borrowing, will go a long way in establishing resitution to the truly aggreived and reconciliation among the populace on our way back to the restoration of the trust in the rule of law.  imo.

Ghordius's picture

"The US is currently suffering from a populace that has become so jaded and distrustful of any and all forms of authority that I fear it's restoration may not occur with the current generation." ??

I'm not sure I understand, I always had the impression (from the outside) that the US Citizenship is waaaay to trustful of Government in general. There was this question about "would you inform the police if your father/mother did some damage to community property with the car" and the US was at the very top of the "YES" answers, followed by all english speaking countries. Compare to Greece!

Boxed Merlot's picture

Interesting. I may be overstating it. Instead of "authority" maybe is should say commercial enterprise and the regulations designed to control it, including the fourth estate.

By and large, the "police" in the US are our neighbors, fathers, brothers and friends. Police are typically required to live within the areas they're employed in. Our police are not considered occupying forces.

Trust on a local level is not the same as trust in our (s)elected officials and the commercial enterprises that placed them in their current positions of "authority".

(in my personal opinion)

snowball777's picture

Move your 401k Ts into a self-directed IRA, it's not like holding the physical, but it beats worrying about your loan to Timmay defaulting.

jmcadg's picture

Understand your concerns, but surely holding physical with no counterparty risk is better than holding faith in the current banking system. Appreciate you've switched to Credit Union, but wouldn't they be as affected by a 'Bank Holiday'. 

If you're going to keep cash, I'd keep some of it under your mattress, at least you can get at it, then invest as much as you feel comfortable in silver, gold, food, water etc.

SMG's picture

This is certainly a possibility.  I hope it is correct.   I've been hoping for one last chance to load up.   I've been wrong to wait so far though.

chinaguy's picture

"the crash of the dollar, although a certainty, may still be a ways off. "

Agreed, The dollar is trash ONLY relative to the printing of alternative currencies...From what I observe, the EU, UK, Japan & China are ALSO printing like hell.

If the CB's all make sure that their CRA's ratings get dropped from AAA to AA AT THE SAME TIME - then there is no incentive for the vigilantes to hammer any single currency.

The implosion of the dollar will take longer than it would otherwise if there was an outside system of checks.

The CBs and their masters will make sure of this.





Ghordius's picture

Remember that generally Central Banks can only print at full speed if they get "proper"collateral from the equivalent Treasury.No Deficit spending = no increase in Bonds issues = less printing possible. Bernanke has become the biggest Treasuries holder, yes. Still, they had to be on the market, first.

I'm digressing: China prints because of the peg to the dollar, Japan because of similar reasons, the Bank of England is a different matter altogether, but please, the ECB is really trying not to. USA is the leader of the game, the others follow, each in his way. Any substantial currency that gets too good and you get the "hot money" flowing into like a river of molten lava, ready to flow back at the whim of a CNBC newscast. Remember the Asian Tigers?

slaughterer's picture

Latest news, dude: metals are getting dumped too right now. They are not fastened down either. 

Quintus's picture

Yeah.  3rd day in a row at 10:45am.  I suppose that's normal.  Large traders routinely operate by selling at a set time of day regardless of fundamentals, technicals or newsflow.  They just set a clock and then sit back with a coffee and donut waiting for the magic hour.

Popo's picture

Gold and silver are doing well. 

But SKF is kicking ass and taking names.   I'm still scared of the ultrashort funds... but I gotta say...



Bicycle Repairman's picture

The ultra short funds do not work.  Compare SKF to it's "non-inverse" counterpart.  You'll see that SKF doesn't properly mirror the results of the "non-inverse" index.  There are periods where both indices lose.

Smiddywesson's picture

Bait and switch history.  TPTB want you to look back a few years and do what you are told, but will belittle you if you look back further in history because it reveals their scam.

Hmm...'s picture

meh... less than 1%.  if the idiot-tards ever really figured stuff out the market would be down a minimum of 3-4% and more likely 10+%.  However, in these days of the Greenspan/Bernanke put every day is up, and a 0.5% drop is a catastrophe.  hahaha.  is this all the fear the markets can manage? 

Dr. Richard Head's picture

It's early in trading yet.  Wait a bit. 

Zero Govt's picture

European Indexes just (tried) to drop off a cliff in sympathy with the US Indexes in the time they had remaining today... if the US Indexes tank rest of today it'll be everyone cuing up overnight for the Exiits at Euro-opening tomorrow (sleepless night for the Hedgies here)

Debtless's picture

Rome burns as the two parties clammer about cutting less than 8% of the annual deficits we run.

What a total circle jerk.

Dr. Richard Head's picture

Let it be known to all in the land that the two-party system will now be known as Bukake Kabuki.

Zero Govt's picture


Japanese for 'Kick the Can' yes? 

Temporalist's picture

I'll just call it



LoneStarHog's picture

I want to SHORT Timmy Geithner, but NATURE beat me to it. 

fonestar's picture

fuck paper fiat