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Is Something Wrong With This Six Sigma Picture?

Tyler Durden's picture


The chart below represents the bid to cover on the US 4 Week Bill auction. Needless to say, the US just sold $30 billion at a yield of 0.000%. We will leave it up to readers to figure out why the announcement of the result at 11:30 am today led to a violent sell off in EURUSD.

And no, this is not seasonal:

Lastly, a Six Sigma way of showing today's result

chart: Bloomberg, John Lohman


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Tue, 12/20/2011 - 12:44 | 1997800 GeneMarchbanks
GeneMarchbanks's picture

At least it wasn't negative...

Tue, 12/20/2011 - 12:45 | 1997806 catacl1sm
catacl1sm's picture

It is when you include inflation. :)

Tue, 12/20/2011 - 12:47 | 1997810 GeneMarchbanks
GeneMarchbanks's picture

I was workin' on my spin. Thanks for nuthin' (unintended)

Tue, 12/20/2011 - 12:56 | 1997843 TruthInSunshine
TruthInSunshine's picture

London calling, bitchez.

Old man Rothschilds is breaking the debt serfs balls, from the grave and beyond. Never (let your alleged elected representatives) make a pact with the devil.

London calling to the re-hypothecation zone
Forget it, brother, an' go it alone
London calling upon the derivatives of death
Quit holding out-and draw another CDS breath
London calling-and I don't wanna shout
But when we were talking-I saw you margined out
London calling, see we ain't got no sovereign highs
Except for that squid with the taxpayer prize
Tue, 12/20/2011 - 13:07 | 1997897 CvlDobd
CvlDobd's picture

+100 for the clash!

Tue, 12/20/2011 - 13:10 | 1997908 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I heard Ron Paul used to party with The Clash back in the '80s.  The story goes he would fly there on the taxpayers dime, go to clubs all night long, and bring home three to four groupies back to the Clash's hotel where he would rock out until dawn!

Tue, 12/20/2011 - 13:20 | 1997941 mckee
mckee's picture

That would get him my vote for sure!

Tue, 12/20/2011 - 13:31 | 1997983 GenX Investor
GenX Investor's picture

Holy, holy, holy... Sound the claxon, brace yourselves for dive position.

Tue, 12/20/2011 - 13:23 | 1997955 TruthInSunshine
TruthInSunshine's picture

The Republican National Committee is busy putting together an expose that they're going to forward to The Wall Street Journal AND New York Times, whereby they claim that Ron Paul had illegal 3.5 gallon-per-flush toilets installed in his house.

Tue, 12/20/2011 - 13:30 | 1997981 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Say it ain't so

Tue, 12/20/2011 - 13:36 | 1998002 RobD
RobD's picture

I'm thinking most people would see this as a plus more then a minus. As I like to say " You know the .gov has gotten to big when they start telling you how much water your toilets can flush and how much water can flow through shower shower head".

Tue, 12/20/2011 - 13:40 | 1998016 Xkwisetly Paneful
Xkwisetly Paneful's picture

It is clearly negative including transaction costs.

Tue, 12/20/2011 - 13:47 | 1998045 RobD
RobD's picture

I was replying to TNSs comment about illegal toilets not the ROE of 0% one month treasurys. Though I agree with your comment btw.

Tue, 12/20/2011 - 19:01 | 1999245 RMolineaux
RMolineaux's picture

You'll know why when the well runs dry.  Some folks are just incapable of cooperating for the common good.

Wed, 12/21/2011 - 10:52 | 2000867 smlbizman
smlbizman's picture

a recent  article in politico has the gov. and hi-level repub backers saying their have been major hacking threats to their voting system....and basically if ron paul wins it will be due to this and ruin the integerity of the iowa caucas....even the states repub. rep in dc is banging this drum.....amazing 

Tue, 12/20/2011 - 13:14 | 1997899 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

His whole plan revolved around that he would never have to work from the grave because his family would be keeping business in house forever.

The House of Rothschild: Volume 2- The World's Banker: 1849-1999, by Nigel Ferguson:

*Please buy from your local bookstore

Tue, 12/20/2011 - 14:03 | 1998109 GeneMarchbanks
GeneMarchbanks's picture

Fuck Ferguson and his book. What a shill he is. Recently I read somewhere that he said Germans should be buying the  £ for safety. Yet another ponce the Americans always fall for.

Tue, 12/20/2011 - 14:15 | 1998174 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Fine, he is a shill, but he wrote the book on the Rotheschildes.

Tue, 12/20/2011 - 19:03 | 1999251 RMolineaux
RMolineaux's picture

What did he promise them to get access?

Tue, 12/20/2011 - 12:55 | 1997848 SheepDog-One
SheepDog-One's picture

Somethin's fucky...

Can you feel the way the shit clings to the air?

Tue, 12/20/2011 - 12:58 | 1997861 Odin
Odin's picture

Winds of Shit Ran...Wiiiinds of Shit

Tue, 12/20/2011 - 14:03 | 1998108 Manthong
Manthong's picture

A little life put back in VIX.


Tue, 12/20/2011 - 12:51 | 1997824 Boston
Boston's picture

When Greece defaults, it will be negative.

Tue, 12/20/2011 - 12:51 | 1997826 mick_richfield
mick_richfield's picture

I am not an economist, but I feel confident that passengers on a sinking ship who all rush to the end that seems to be going down last -- still have pretty dim prospects.


Tue, 12/20/2011 - 13:03 | 1997875 Al Huxley
Al Huxley's picture

+10 - great analogy for what's going on here.

Tue, 12/20/2011 - 14:28 | 1998245 Potemkin Villag...
Potemkin Village Idiot's picture

CNBS just called to say that your 2:00 on air interview has been cancelled...

Tue, 12/20/2011 - 13:26 | 1997973 molecool
molecool's picture

I wouldn't call 60 pips a violent sell off.

Tue, 12/20/2011 - 13:26 | 1997974 molecool
molecool's picture

I wouldn't call 60 pips a violent sell off.

Tue, 12/20/2011 - 14:30 | 1998255 Potemkin Villag...
Potemkin Village Idiot's picture


2 wrongs don't make a right... But 3 rights make... a LEFT!

Tue, 12/20/2011 - 14:38 | 1998286 SAT 800
SAT 800's picture

You would if your job was to collect page clicks by producing sensational journalism. The Euro is at 1.3095 basis Mar. profitable for my long position and will probably continue to rally.

Tue, 12/20/2011 - 12:46 | 1997807 maxw3st
maxw3st's picture

Buba unloading some Euro for $ instead of CHF?

Tue, 12/20/2011 - 13:01 | 1997808 gdogus erectus
gdogus erectus's picture

Wait. Bid to cover of 9? Algos Gone Wild? Waddell and Reed buying treasuries now? Ok, I give up.

Tue, 12/20/2011 - 12:47 | 1997809 Raynja
Raynja's picture

let me in, let me in, don't fucking leave me out here with these euros

Tue, 12/20/2011 - 12:48 | 1997812 Cdad
Cdad's picture

Ummm...because Central Bank Butchers had gone to town killing Average Joe's currency this morning which, in retrospect, is now starting to look like a back alley craps game with guys who are wearing even bigger knives on their belts?

Tue, 12/20/2011 - 12:49 | 1997814 Ese Pinche
Ese Pinche's picture

Collapse imminent bitchez!

Tue, 12/20/2011 - 12:51 | 1997827 EL INDIO
EL INDIO's picture

That’s what I thought.


Is a EURO breakup imminent?

Tue, 12/20/2011 - 12:55 | 1997850 GeneMarchbanks
GeneMarchbanks's picture

It's been imminent for at least a year now.

Tue, 12/20/2011 - 13:05 | 1997881 Schmuck Raker
Tue, 12/20/2011 - 13:09 | 1997910 old naughty
old naughty's picture

New dictionary definition of imminent?

Tue, 12/20/2011 - 13:13 | 1997918 Calmyourself
Calmyourself's picture

Impending, looming, threatening, imminent.. For at least a year.  Will the PTB plans ever be finalized?  Collapse already so we can see what the new ponzi consists of..

Tue, 12/20/2011 - 13:21 | 1997949 CPL
CPL's picture

It's been imminent for three years actually but I don't think anyone is paying attention anymore.

Tue, 12/20/2011 - 12:57 | 1997857 youLilQuantFuker
youLilQuantFuker's picture

Oh come now. It's just Bugs Bunny:

Tue, 12/20/2011 - 12:48 | 1997816 virgilcaine
virgilcaine's picture

Tyler please explain further.

Tue, 12/20/2011 - 13:04 | 1997860 hedgeless_horseman
hedgeless_horseman's picture



Timmy's Phantom Menace Euro Version is working like a charm.  Interest-free funding of US debt, and a rock-solid Petrol Dollar.  All for the price of a few Aegean Islands.  What a bargain!

America owns the battlefields of the 21st Century resource wars.

Tue, 12/20/2011 - 13:06 | 1997893 GeneMarchbanks
GeneMarchbanks's picture

Or as I like to point out, a prime example of Stockholm Syndrome...

Tue, 12/20/2011 - 13:47 | 1997961 hedgeless_horseman
hedgeless_horseman's picture



Yeah, the Euro bankers have got to see what we see...buying UST strengthens their destroyer.  Just like a drug addict and dealer. 

Stockholm Syndrome, Gene, or enough pro-American financial wizards (21st Century EHM) have infiltrated European banks, just like pro-European financial wizards had infiltrated American banks 100 years ago.  Pay-back is indeed a mother-fucker.

Will the Continentals ever learn their place, like the Nippons and the Arabs have, or will Oceania always be at war with Eurasia?

Tue, 12/20/2011 - 13:49 | 1998058 GeneMarchbanks
GeneMarchbanks's picture

I have to say h_h, that as you well know this is mainly a US, UK and Germany tussle if we're talkin' 'sovereigns'. I mean, I'm not sure there were many Slovakian EHM at any point in history as I've read it. EHM, is a growth industry BTW, but I digress. Europe has always had what Freud called 'the narcissism of minor differences' which has been used to further divide and conquer repeatedly.

By continentals you should really just say Germans, as they are the only ones with any chance to outwit the Anglo-American banking cabal. Not holding my breath though.

Tue, 12/20/2011 - 13:56 | 1998071 hedgeless_horseman
hedgeless_horseman's picture



...they are the only ones with any chance to outwit the Anglo-American banking cabal.

Not in our lifetimes.  Too busy with details to see the war.


Tue, 12/20/2011 - 13:56 | 1998078 GeneMarchbanks
GeneMarchbanks's picture

Too logical, agreed.

Tue, 12/20/2011 - 13:59 | 1998092 hedgeless_horseman
hedgeless_horseman's picture



...and too burdened with shame. 

Say, there is a new Holocaust museum going up in town.  I hear it will be spectacular.

Tue, 12/20/2011 - 14:07 | 1998133 GeneMarchbanks
GeneMarchbanks's picture

Certainly that is a tactic used against them to great effect. You want to talk shame, Japan is king.

Tue, 12/20/2011 - 12:59 | 1997862 Nate H
Nate H's picture

they sold $30 billion 1 month bills at zero yield. and there was 9:1 or 270 billion of interest lined up to get.....0%.  So someone large is trying to park money just for return of capital and doesnt care about return on capital. In other words there is more going on than meets the mainstream eye.

Tue, 12/20/2011 - 13:07 | 1997882 scatterbrains
scatterbrains's picture

MF global triggered run on brokers underway maybe ?  Or can someone explain to me why anyone would leave one dollar in a rehypothocated brokerage account just days or weeks before the Euro explodes ? You'd think that at the least they'd step aside until the shit show passes.


Tue, 12/20/2011 - 17:44 | 1999019 NotApplicable
NotApplicable's picture

So, out of $270B in bids, $180B were from primary dealers. I'm guessing that they are scrambling to get solid assets with only Uncle Sugar as a counter-party?

Also, does anyone know if there's any meaning behind the "12.9% allotted at high" number, when the high rate was 0%?

Tue, 12/20/2011 - 13:05 | 1997886 Ignorance is bliss
Ignorance is bliss's picture

What does it mean when a financial institution would rather have zero yield Govt bond vs. just parking it into a banking account? Is someone afraid of a banking collapse ?

Tue, 12/20/2011 - 13:23 | 1997957 Winston Smith 2009
Winston Smith 2009's picture


Tue, 12/20/2011 - 13:05 | 1997888 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Let's point out the person that showed interest is the second stupidest person on the planet, following closely behind whoever lines up to bid on Eurobonds.

Tue, 12/20/2011 - 13:06 | 1997896 SWCroaker
SWCroaker's picture

Thank you.  Those of us who have yet to nab a decoder ring like to think we're worth saving, despite being somewhat short in the keen insight department....

Tue, 12/20/2011 - 13:09 | 1997905 espirit
espirit's picture

The PD's and indirects have to pick up treasury slack tomorrow for about $16 billion BennieBux in two sales.

That alone would whup the markets...unless... they could SWAP.

Tue, 12/20/2011 - 13:43 | 1998027 wrs
wrs's picture

but they never do that with gold, they only sell it because it is so liquid.  brings to mind the question of when did they ever buy it in the first place before they sell it?  Answer, never, they just swap some shit for it so they can sell it for some other shit.  They only buy it back when it's cheaper than what they sold it for.

Tue, 12/20/2011 - 15:11 | 1998409 onebir
onebir's picture

So why did the Euro strengthen vs USD? :s

Tue, 12/20/2011 - 13:14 | 1997922 Calmyourself
Calmyourself's picture

A drowning man standing on another shoulders for a few more breaths..

Tue, 12/20/2011 - 17:46 | 1999024 NotApplicable
NotApplicable's picture

They're gonna bite his toes!

Tue, 12/20/2011 - 12:50 | 1997819 Dick Darlington
Dick Darlington's picture

But but but, everybody and their grandma's were supposed to be buying the insolvent zEuro-sovereigns, not Uncle Gorilla bills @ 0%.

Tue, 12/20/2011 - 12:50 | 1997822 Johnny Yuma
Johnny Yuma's picture

And these are prices that institutional desks are getting. This is without a doubt a negative ROR for the retail buyer that has a few points marked into it. But hey, things are fine, BAC is back above $5 (for now)... 

Tue, 12/20/2011 - 12:52 | 1997828 SheepDog-One
SheepDog-One's picture

So, 'smart money' believes the best case over the next month is their money returned at guaranteed 0%. All I need to know.

Tue, 12/20/2011 - 12:53 | 1997835 fonzanoon
fonzanoon's picture

In US dollars.

Tue, 12/20/2011 - 12:55 | 1997851 Papasmurf
Papasmurf's picture

After all, it's money which by the very definition will not be returned. 

Tue, 12/20/2011 - 13:00 | 1997869 J 457
J 457's picture

Bingo. And that's scary........


Is NOW, right NOW, the time to buy TZA?

Tue, 12/20/2011 - 13:17 | 1997931 blu
blu's picture

We are the best looking horse in the glue factory at the moment. Well okay for at least 4 weeks then.

And it might have been one player taking that much of the offer. Someone out there might be thinking they have only 4 weeks to live.

Tue, 12/20/2011 - 12:52 | 1997829 DMA
DMA's picture

what's deflating ? 

Tue, 12/20/2011 - 12:59 | 1997863 youLilQuantFuker
youLilQuantFuker's picture

Not the Fed.

Tue, 12/20/2011 - 13:07 | 1997901 fuu
fuu's picture

The Bernank and the William Dudley?

Tue, 12/20/2011 - 13:45 | 1998036 TruthInSunshine
TruthInSunshine's picture

The Federal Reserve's balance sheet is absolutely hyperinflating (although it's full of toxic sludge) as its credibly - and that of the Beard - is undergoing hyperdeflation.

Tue, 12/20/2011 - 13:47 | 1998053 InconvenientCou...
InconvenientCounterParty's picture

everything... but confidence in Euro denominated collateral is winning the race to the bottom for the moment. Nice platform for more LSAPs'.

Tue, 12/20/2011 - 12:52 | 1997832 Scisco
Scisco's picture

Anyone have an update on volumes at Sigma X?

Tue, 12/20/2011 - 12:53 | 1997833 BW
BW's picture

The banks need more money.

Tue, 12/20/2011 - 13:12 | 1997915 blu
blu's picture

Great snakes! Then get to the presses, man, and print more dollars! We must fund the banks at all costs! The very future of democracy hangs in the balance!

Ha ha okay that was fun. Seriously though, just take them out back and shoot them all in the head. Problem solved.

Tue, 12/20/2011 - 12:57 | 1997836 John Law Lives
John Law Lives's picture

It is quite telling that there was such a large bid-to-cover to get 0.00% on paper.

On a separate note, I was going to wait until ZH posted a new article on politics.  However, this thread will have to do.  This article shows how the GOP Establishment plays when someone they don't want surges in the polls:

This is dirty pool.  The same damn thing happened to Pat Buchanan in 1996 after he won the New Hampshire Primary.  The GOP Establishment set out to crush him.  Ron Paul certainly has more supporters and deeper pockets than Pat Buchanan had, but Ron Paul will be savagely attacked if he wins in Iowa (which looks very possible).  The machination that is the GOP Establishment is purely self-serving, and they are ruthless to the core.  People like Ron Paul terrify them, and they will line up to try and crush him.  We are going to see some really ugly politics if Ron Paul wins in Iowa.  I hope he wins big in Iowa so we can all see the true face of the beast that is the GOP Establishment.  Maybe this will shake them apart.

100% FUBAR.

Tue, 12/20/2011 - 13:06 | 1997891 Winston Smith 2009
Winston Smith 2009's picture

"I hope he wins big in Iowa so we can all see the true face of the beast that is the GOP Establishment."

Those intelligent and informed enough to see it already do.  The rest will stick with their "guns, gays, and god" BS.

Tue, 12/20/2011 - 13:50 | 1997994 John Law Lives
John Law Lives's picture

"Those intelligent and informed enough to see it already do."

I don't know the typical age of Ron Paul supporters on ZH, so I don't know how many were fully aware of the true depths that the GOP Establishment sunk to crush Pat Buchanan in 1996.  That is why I posted the link to the article.  I was a zelaous member of the "Buchanan Brigade" back then, as Pat Buchanan was pretty much the ONLY legit GOP contender speaking out against NAFTA and GATT and Free Trade and unnecessary foreign intervention among other topics that GOP Establishment cronies love.  They crushed Pat with every dirty trick in the book after he won in New Hampshire.  Ron Paul is going to get the same treatment if he wins in Iowa (which it appears he will do).  This is going to be really ugly stuff.  Hopefully it will galvanize Paul's supporters to stick it right back in their eye in New Hampshire.  If Paul is leading after the first two contests, there will be outright panic among the GOP cronies.

Tue, 12/20/2011 - 14:21 | 1998205 Troll Magnet
Troll Magnet's picture

that politico article is so funny.  i love watching those fuckers shaking in their boots!  go ron paul!!!

Tue, 12/20/2011 - 14:27 | 1998238 seek
seek's picture

Don't forget Paul has the nuclear option, unlike the last run he didn't promise not to run as a third party this go-around, and reaffirmed that on Leno just a few days ago.

At the moment, RP is probably the most powerful man in the country with respect to determining the Presidency.

That said, I truly believe the current Republican party would prefer the re-election of Obama to Paul being on the Republican ticket, so if they go after Paul, that may simply be an admission of that fact.

The gravy train for virtually all of congress is dependent on Paul not getting elected, with many billions in their personal income at stake, so yep, it's going to be ugly. Funny thing is, though, it shows how desperate TPTB are getting, the "unseen hand" sure has been getting revealed a lot lately.


Tue, 12/20/2011 - 13:08 | 1997903 Hansel
Hansel's picture

Fuckin' Politico.  Bunch of asshats.

Tue, 12/20/2011 - 13:19 | 1997936 GeneMarchbanks
GeneMarchbanks's picture

Ron will spark a civil war. People vs Neo-fascist Corp.

Tue, 12/20/2011 - 14:23 | 1998217 Troll Magnet
Troll Magnet's picture

once ron paul's vision for america is enacted, people will wake up and these establishment fuckers will be OUT OF BUSINESS!


Tue, 12/20/2011 - 14:45 | 1998312 GeneMarchbanks
GeneMarchbanks's picture

Once Ron's vision is enacted, the violence to resist and maintain control will get ugly.

Tue, 12/20/2011 - 13:19 | 1997939 AC_Doctor
AC_Doctor's picture

We need a website that can keep track of names and addresses of all crooks (banksters, lawyers, mortagage brokers, govt. employees, local and national politicians, educators & lobbyists) who have perpetuated this massive financial fraud, so they can answer to the people for their crimes against humanity and be tried and sentenced by a new unperverted court that follows the US Constitutional guidelines, when the great reset ensues in the near future.

"We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights,[74] that among these are Life, Liberty and the pursuit of Happiness. That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness. Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes; and accordingly all experience hath shewn, that mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security"  US Constitution July 4, 1776

Tue, 12/20/2011 - 13:29 | 1997978 RobD
RobD's picture

Umm that is the Declaration of Independendence Doc.

Tue, 12/20/2011 - 13:41 | 1998019 AC_Doctor
AC_Doctor's picture

My bad, forked that up when writing it.  Thx...

Tue, 12/20/2011 - 13:30 | 1997980 Theta_Burn
Theta_Burn's picture

Heres a start.

Most of these turds spend more time defending themselves than doing anything constructive for the people at all.

Feeling represented yet?


Tue, 12/20/2011 - 13:40 | 1998015 sabra1
sabra1's picture

add to that list, soldiers, police, TSA! you turn on us, we turn right back at ya! choose sides wisely!!!

Tue, 12/20/2011 - 14:48 | 1998322 americanspirit
americanspirit's picture

Could not agree more AC - that website needs to track both business and home addresses, addresses of second homes, full contact info, records from the Federal election Commission showing who they have 'contributed' to, names of boards of directors of their companies, etc. ZH should start a separate website that we can all contribute intelligence to about these assholes - maybe call it ZeroAssholes - and make that the goal.

Tue, 12/20/2011 - 13:22 | 1997952 Killtruck
Killtruck's picture

"Oh, oh, our precious process, the process is at risk, someone please get this madman away from our blessed process!"

Fuck your process, you batshit crazy navel-gazing Republican attention whore. It's the "process" that's led to the disenfranchisement of an entire generation, and that same process will either cause that generation to remake the Republican Party as it sees fit, or cast it onto the flaming scrapheap of history and start over.

Ron Paul is the only candidate with a chance of saving this country. And even then, that chance is very very slim.

Tue, 12/20/2011 - 14:07 | 1998137 John Law Lives
John Law Lives's picture

"It's the "process" that's led to the disenfranchisement..."

That was one issue I was attempting to highlight by posting the article, comrade.

Tue, 12/20/2011 - 13:26 | 1997970 Mark123
Mark123's picture

Classic article!  The whole piece talks about how RP is just abusing the system and will ruin everything for Repubs.  Then at the end of the article they have this to say:

"Rick Perry is now hitting his fellow Texan over earmarks and Bachmann and Newt Gingrich have begun targeting his foreign policy views. And their in-state surrogates have begun testing another line of attack — that Paul and his backers have “hijacked” the caucuses."


So....your article is part of the new "line of attack"?  LOL

Tue, 12/20/2011 - 13:57 | 1998042 John Law Lives
John Law Lives's picture

"So....your article is part of the new "line of attack"? LOL"

I was attempting to inform those who may not have been fully aware of what happened to another GOP candidate when that candidate threatened the rank-in-file GOP Establishment in a fight for the nomination.  I believe Ron Paul will be subjected to coordinated attacks on a grand scale that you haven't seen as of yet.


Tue, 12/20/2011 - 15:54 | 1998584 sullymandias
sullymandias's picture

what kind of marks are they claiming he has on his ears? liverspots? i know for sure they aint peirced!

Tue, 12/20/2011 - 13:26 | 1997971 Smells_like_sALT
Smells_like_sALT's picture


The attacks have already begun.  This from NY Times/MSNBC First Read:

*** Those Paul newsletters: Ron Paul supporters often complain that their candidate doesn’t get enough media attention. But if they wanted him treated like a typical front-runner, they might see more coverage like today’s New York Times look at “decades-old unbylined columns in his political newsletters that included racist, anti-gay and anti-Israel passages that he has since disavowed.” One example: “A 1992 passage from the Ron Paul Political Report about the Los Angeles riots read, ‘Order was only restored in L.A. when it came time for the blacks to pick up their welfare checks.’” Also: “A passage in another newsletter asserted that people with AIDS should not be allowed to eat in restaurants because ‘AIDS can be transmitted by saliva.’” And: “[O]ne of his publications criticized Ronald Reagan for having gone along with the creation of the federal holiday honoring the Rev. Dr. Martin Luther King Jr., which it called ‘Hate Whitey Day.’” Paul has said that he didn’t write these things in his newsletter and that he disavows them. But just think all the scrutiny that Rick Perry got for that Texas ranch rock. These newsletters are just as problematic -- if not more so…

Tue, 12/20/2011 - 13:55 | 1998073 EscapeKey
EscapeKey's picture

The thing is, though, once the corporate media starts attacking Paul, he will get a lot more media attention, good or bad. And they desperately want to avoid him getting ANY media attention, as it might propel people into doing their own research.

Tue, 12/20/2011 - 14:03 | 1998111 whstlblwr
whstlblwr's picture

The problem for status quo. WE ALREADY KNOW AND WE DONT THINK ITS PROBLEM. Unless they find he donated money to hate group, or sponsored legislation for neo nazi to take over America they are losing.

Tue, 12/20/2011 - 13:38 | 1998010 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

John Law, put a headline above your article so we know what it's about.  Thanks, boss.

Tue, 12/20/2011 - 13:46 | 1998044 John Law Lives
John Law Lives's picture

Agreed.  That is a good idea.

Tue, 12/20/2011 - 14:51 | 1998333 msamour
msamour's picture

Thanks for brining it up. I was thinking the same. The only difference now between Pat Buchannan, and Ron Paul, is now Ron Paul has had the time to get to be known from Americans, and with the Internet it has become increasingly difficult for the establishment to not be seen for what they truly are. I seriously believe they are running scared now.

I think Ron Paul will only come out stronger form the attacks.

Tue, 12/20/2011 - 12:54 | 1997841 SeverinSlade
SeverinSlade's picture

"We be fucked."

Tue, 12/20/2011 - 13:00 | 1997867 Global Hunter
Global Hunter's picture

He picked a good time to get out of town 

Tue, 12/20/2011 - 13:18 | 1997935 Theta_Burn
Theta_Burn's picture

Good riddance to that POS

Now if only Pelosi would fucking quit

And they call "us" usless eaters....

Tue, 12/20/2011 - 13:20 | 1997947 AC_Doctor
AC_Doctor's picture

Mr. Slurry McManBoobies tool of the left!

Tue, 12/20/2011 - 12:54 | 1997845 buttmilk
buttmilk's picture


Tue, 12/20/2011 - 12:55 | 1997849 Esso
Esso's picture

Crap, and I'm sitting on all this Au & Ag that I can't even eat.

I miss out on all the good investment opportunities.

Tue, 12/20/2011 - 13:05 | 1997887 TruthInSunshine
TruthInSunshine's picture

Gold is edible, and silver is antibacterial.

Paper fiat is loaded with carcinogenic materials, covered in cocaine and germs, and an efficient conduit of virulent disease (watch out for the especially pernicious Bernankitis, a brain eating pathogen).

Tue, 12/20/2011 - 13:19 | 1997937 AC_Doctor
AC_Doctor's picture

BPA and cooties too!

Tue, 12/20/2011 - 12:57 | 1997858 YesWeKahn
YesWeKahn's picture

One thing is certain, people have too much money.

Tue, 12/20/2011 - 13:22 | 1997951 AC_Doctor
AC_Doctor's picture

That will be resolved for the Sheeple within the next years time frame!

Tue, 12/20/2011 - 13:01 | 1997859 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The most amazing thing about these markets is that they don't make any sense.  All markets are in complete cordination, with the EUR/USD front and center on the letterhead.  Yet the most important trades (oil/PM) are now on the backburner.  The Fiat Ponzi is worth zero intrinsically, but due to the false logic that a weak zero means a strong zero (as the Euro/Dollar exchange) has kept the economic Hegelian dialectic running full steam ahead- however close to the end of the rail it really is.

Bernanke, through such happenings as Mother Fucking Global, the Eurotrash Rescue Fund, etc, has successfully confused the "rational consumer".  He has made US paper important, and all the while he props up US equity by stealth through his President's Working Groups (yes there is more than one), and by his monetizing debt, flipping just issued USTs, and owning all MBS on market. 

The cheeky bastard oilgarchs are backslapping (or worse) Ben S. Bernanke now.  He has done their bidding.  How much longer he can is anyone's guess.

And we could say that people are waking up, but just as anyone wakes up in the middle of R.E.M. sleep, the peoples bodies are disconnected from their minds; still have a sleep, and drooling on themselves, their motor functions are not 100%.  People have tried to catch the intruder in their house, but can't use their voice yet.  The people can't quite see right, and the aperations are appearing as hallucinations.

So people mindlessly still prepare for X-mas, by buying crap presents and chopping down their pagan idols and decorating them.  Time has not changed, nor has the mind of man, but technology has, and it has allowed people to sleep through this crisis.  How much longer until the lights on the tree catch fire, setting the home ablaze and burning the half sleeping occupant is anyones guess.

Tue, 12/20/2011 - 13:17 | 1997930 Winston Smith 2009
Winston Smith 2009's picture

"The most amazing thing about these markets is that they don't make any sense."

I'd expect that from fully manipulated markets with 60-70% of trades being HFT.

Tue, 12/20/2011 - 13:22 | 1997944 CrashisOptimistic
CrashisOptimistic's picture

Look, guys, you're all sitting there and ignoring the STORY OF 2011.

It is that governments and government entities will DO ANYTHING TO KEEP THE WHEELS TURNING.  If something is a threat, like privately held debt of Greece, then the threat will be expunged by decree and the victims will be instructed to celebrate that the punishment they recieve is not worse.

The Wheels Will Not Be Permitted To Stop Turning.

It happened with GM.  It happened with Greece.  It will happen anywhere there is a threat to function.  There is no analysis.  There are no "laws of economics".  If things aren't working, they will be ordered to work by decree.

Only one thing, and one thing only, can stop this.  Oil.  Nothing else matters.  Bullets will not start to enter heads until food stops appearing on shelves.

Tue, 12/20/2011 - 13:24 | 1997964 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

That's right

Tue, 12/20/2011 - 13:33 | 1997992 Calmyourself
Calmyourself's picture

As I've posted many time hunger only hunger is going to end this.  If the PTB can keep that at bay we are entering a redux of the dark ages for the majority of mankind as the ptb use advanced technology to keep us serfs.

Tue, 12/20/2011 - 13:39 | 1998014 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

People are getting hungry.  They aren't starving, but they can no longer afford their fourth meal.

Tue, 12/20/2011 - 18:30 | 1999155 Calmyourself
Calmyourself's picture

Real hunger LH, the hunger of a fruit seller in N. Africa who burns himself to death as he cannot afford the graft to run a business and feed his children.  The hunger in a fathers eyes as his childrens bellies swell, these are men with nothing left to lose.  In this country, the US, you never want this many veterans and freedom advocates hungry. 

Tue, 12/20/2011 - 16:08 | 1998641 sullymandias
sullymandias's picture

You can't eat oil!!  ;-)

Tue, 12/20/2011 - 12:59 | 1997864 Caviar Emptor
Caviar Emptor's picture

Sell the Deus Ex strength

Tue, 12/20/2011 - 13:02 | 1997873 Winston Smith 2009
Winston Smith 2009's picture

Someone (or a number of someones) with a lot of money think that they need to stash their money in a safe place for the next four weeks with zero return on it which means that someone (or a number of someones) think that something really bad may happen within that time, probably thinking that as a result of insider knowledge that we dweebs only hear after the fact.

Tue, 12/20/2011 - 13:05 | 1997890 blu
blu's picture

take heart! all shall be revealed inside of 4 weeks.

of course we may all be too busy by then screaming in terror to notice.

Tue, 12/20/2011 - 13:35 | 1997998 Mutatto
Mutatto's picture

I keep thinking about Mish's article re: the holidays/end of year being prime time for gov'ts (Greek) to close the banks, seize the deposits, re-issue currencies.  The ZH updates about Greek bank runs and now the Greek gov't withholding payments looks like it is trending in that direction. 

All the poor people whom the Greek gov't owes money to, may be about to get paid in a shiny new, freshly printed currency. 

Kyle B mentioned something about mid December being a zero hour for Greece.


Tue, 12/20/2011 - 14:45 | 1998311 Winston Smith 2009
Winston Smith 2009's picture

"Kyle B mentioned something about mid December being a zero hour for Greece."

I recall that the exact date was 19 Dec, but I don't recall exactly what Greece debt event it was related to.

Tue, 12/20/2011 - 13:03 | 1997876 eucalyptus
eucalyptus's picture

Don't have access to bloomberg but when was the last time bid to cover was this high? march 09?

Tue, 12/20/2011 - 13:04 | 1997885 Tyler Durden
Tyler Durden's picture


Tue, 12/20/2011 - 13:10 | 1997909 GeneMarchbanks
GeneMarchbanks's picture


Should've used the deer dude...

Tue, 12/20/2011 - 13:12 | 1997917 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Good thing you can eat USTs

Bubble [cough, COUGH]

Tue, 12/20/2011 - 13:14 | 1997921 dereksatkinson
dereksatkinson's picture

How can this be rational behavior?  if it's 0%, you might as well just have cash.

Tue, 12/20/2011 - 13:20 | 1997943 EL INDIO
EL INDIO's picture

If you can stuff it under you mattress.

Otherwise your bank might go bust.

Tue, 12/20/2011 - 13:32 | 1997987 dereksatkinson
dereksatkinson's picture

They just paid commission to get their money back in a month..

Tue, 12/20/2011 - 13:49 | 1998059 fuu
fuu's picture

As opposed to...

Tue, 12/20/2011 - 13:23 | 1997960 Tense INDIAN
Tense INDIAN's picture

thats what i dont understand ....this behaviour of these millionaire investors

Tue, 12/20/2011 - 13:58 | 1998085 in4mayshun
in4mayshun's picture

Gov securities are a form of cash. The only reason someone parks money at 0% interest is because they trust the USGOV more than they trust counter-party banks. Of course you can always stick it under the mattress, but when you're parking millions of dollars, it requires a big mattress.

Tue, 12/20/2011 - 16:14 | 1998666 sullymandias
sullymandias's picture

How can this be rational behavior?  if it's 0%, you might as well just have cash.

Someone who is worth a couple hundred thousand might be able to pull this off. But there were $270B in bids, right? That's more than 10% of USD paper money.

And you better have a pretty big mattress if you want to hold that kind of cash.

Tue, 12/20/2011 - 13:24 | 1997963 Cult_of_Reason
Cult_of_Reason's picture

Re: "when was the last time bid to cover was this high?"

Maybe in the 1930s

Tue, 12/20/2011 - 17:30 | 1998962 Winston Smith 2009
Winston Smith 2009's picture

Wow! That chart alone should prove to anyone that his time is indeed very different from any other "recession" subsequent to the Great Depression.

BTW, does anyone have a figure for the historical norm for the interest rates paid on bank savings and money market accounts? 

Tue, 12/20/2011 - 14:06 | 1998128 wbill
wbill's picture

And it never should happen!!!

6 Sigma events do not happen according to mathamatical law. But check this out from the statistitions:

A six sigma event assumes a 99.99996 % probability of occurrence. For a daily horizon this translates into one event happening once every 2'500'000 days. All the recent market slumps i.e. '87 Crash, Mexican Tequila effect, Russian Devaluation, Asian Crisis and Internet speculative bubble, .. have all been called six sigma events and they've all happened in the past two decades. 

The thing about math. It is always right. (Yes, statistics is math.)

Statistically impossible events are happenning and that can only mean that the statistics are wrong ( I.E. based on lies). Tyler has been pointing out a ton of 3, 4, 5 and 6 sigma events in the markets. It dosen't mean the events are actually rare. Or that statistical theory and law is defucnt. It means the MARKETS ARE A LIE!


Tue, 12/20/2011 - 16:23 | 1998709 sullymandias
sullymandias's picture

It means either your inputs are wrong, or your assumptions, or both.

You also must account for multiple hypotheses. Maybe there are a trillion possible events that should only happen once out of a trillion days. But any one of those events happen, you will notice. In that case, the chance of observing a one in a trillion event is not so spectacular.

In this case, it's more likely the assuptions are wrong. I really don't know, but I would imagine that the six sigma event is based on some form of "here is a model of this data series based on the last 10 years of data. If the model is right, then event X would be a six sigma event." But the model is wrong. It's way oversimplified, and built upon assumption of things being somewhat the same in the near future as they have been in the past 10 years.

Tue, 12/20/2011 - 13:06 | 1997895 dereksatkinson
dereksatkinson's picture

I'd like to know as well.


Tue, 12/20/2011 - 13:03 | 1997878 blu
blu's picture

Ruh roh.

Who shouted fire in the theatre this time?

Tue, 12/20/2011 - 13:09 | 1997906 urmomgoes2college
urmomgoes2college's picture

Must be a league game...Mark it zero, Dude.

Tue, 12/20/2011 - 13:09 | 1997907 Benjamin Glutton
Benjamin Glutton's picture

how much do you want to pay BNY to hold your cash?

Tue, 12/20/2011 - 13:10 | 1997912 Caviar Emptor
Caviar Emptor's picture

See when you tell the sheeple "all clear, the banks are saved", with your left hand you pull your money out of anything "risk" and stick it in TBills like your grandma who never trusted WS

Tue, 12/20/2011 - 13:14 | 1997919 Kali
Kali's picture

Shoo!  I'll hold their money for them for "free".  They might even get it back.  Or I'll charge even less than BNY.  Schizoid.  Too early to start drinking.

Tue, 12/20/2011 - 13:16 | 1997927 jay28elle
jay28elle's picture

shit, i'll given em 75% back.  a 25% haircut may not be a bad thing...

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