This page has been archived and commenting is disabled.
Is Something Wrong With This Six Sigma 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
»
- 16858 reads
- Printer-friendly version
- Send to friend
- advertisements -
At least it wasn't negative...
It is when you include inflation. :)
I was workin' on my spin. Thanks for nuthin' (unintended)
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 zoneForget 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
+100 for the clash!
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!
That would get him my vote for sure!
Holy, holy, holy... Sound the claxon, brace yourselves for dive position.
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.
Say it ain't so
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".
It is clearly negative including transaction costs.
I was replying to TNSs comment about illegal toilets not the ROE of 0% one month treasurys. Though I agree with your comment btw.
You'll know why when the well runs dry. Some folks are just incapable of cooperating for the common good.
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
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:
http://www.amazon.com/House-Rothschild-Worlds-Banker-1849-1999/dp/0140286624
*Please buy from your local bookstore
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.
Fine, he is a shill, but he wrote the book on the Rotheschildes.
What did he promise them to get access?
Somethin's fucky...
Can you feel the way the shit clings to the air?
Winds of Shit Ran...Wiiiinds of Shit
A little life put back in VIX.
Rhymes.
When Greece defaults, it will be negative.
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.
+10 - great analogy for what's going on here.
CNBS just called to say that your 2:00 on air interview has been cancelled...
I wouldn't call 60 pips a violent sell off.
I wouldn't call 60 pips a violent sell off.
@molecool
2 wrongs don't make a right... But 3 rights make... a LEFT!
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.
Buba unloading some Euro for $ instead of CHF?
Wait. Bid to cover of 9? Algos Gone Wild? Waddell and Reed buying treasuries now? Ok, I give up.
let me in, let me in, don't fucking leave me out here with these euros
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?
Collapse imminent bitchez!
That’s what I thought.
Is a EURO breakup imminent?
It's been imminent for at least a year now.
A retrospective(link):
The Simpsons "Are We There Yet?" YouTube
New dictionary definition of imminent?
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..
It's been imminent for three years actually but I don't think anyone is paying attention anymore.
Oh come now. It's just Bugs Bunny:
http://www.youtube.com/watch?v=wsTXumUC3jg
Tyler please explain further.
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.
Or as I like to point out, a prime example of Stockholm Syndrome...
http://en.wikipedia.org/wiki/Stockholm_syndrome
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?
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.
Not in our lifetimes. Too busy with details to see the war.
Too logical, agreed.
...and too burdened with shame.
Say, there is a new Holocaust museum going up in town. I hear it will be spectacular.
Certainly that is a tactic used against them to great effect. You want to talk shame, Japan is king.
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.
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.
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%?
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 ?
Probably.
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.
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....
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.
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.
So why did the Euro strengthen vs USD? :s
A drowning man standing on another shoulders for a few more breaths..
They're gonna bite his toes!
But but but, everybody and their grandma's were supposed to be buying the insolvent zEuro-sovereigns, not Uncle Gorilla bills @ 0%.
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)...
So, 'smart money' believes the best case over the next month is their money returned at guaranteed 0%. All I need to know.
In US dollars.
After all, it's money which by the very definition will not be returned.
Bingo. And that's scary........
Is NOW, right NOW, the time to buy TZA?
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.
what's deflating ?
Not the Fed.
The Bernank and the William Dudley?
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.
everything... but confidence in Euro denominated collateral is winning the race to the bottom for the moment. Nice platform for more LSAPs'.
Anyone have an update on volumes at Sigma X?
The banks need more money.
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.
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:
http://www.politico.com/news/stories/1211/70674.html
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.
"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.
"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.
that politico article is so funny. i love watching those fuckers shaking in their boots! go ron paul!!!
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.
Fuckin' Politico. Bunch of asshats.
Ron will spark a civil war. People vs Neo-fascist Corp.
once ron paul's vision for america is enacted, people will wake up and these establishment fuckers will be OUT OF BUSINESS!
Once Ron's vision is enacted, the violence to resist and maintain control will get ugly.
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
Umm that is the Declaration of Independendence Doc.
My bad, forked that up when writing it. Thx...
Heres a start.
Most of these turds spend more time defending themselves than doing anything constructive for the people at all.
http://www.crewsmostcorrupt.org/search/node/Giffords
Feeling represented yet?
add to that list, soldiers, police, TSA! you turn on us, we turn right back at ya! choose sides wisely!!!
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.
"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.
"It's the "process" that's led to the disenfranchisement..."
That was one issue I was attempting to highlight by posting the article, comrade.
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
"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.
what kind of marks are they claiming he has on his ears? liverspots? i know for sure they aint peirced!
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…
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.
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.
John Law, put a headline above your article so we know what it's about. Thanks, boss.
Agreed. That is a good idea.
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.
"We be fucked."
On the local news....
http://thecaucus.blogs.nytimes.com/2011/11/28/barney-frank-to-quit-house...
He picked a good time to get out of town
Good riddance to that POS
Now if only Pelosi would fucking quit
And they call "us" usless eaters....
Mr. Slurry McManBoobies tool of the left!
QE3...?
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.
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).
BPA and cooties too!
One thing is certain, people have too much money.
That will be resolved for the Sheeple within the next years time frame!
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.
"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.
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.
That's right
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.
People are getting hungry. They aren't starving, but they can no longer afford their fourth meal.
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.
You can't eat oil!! ;-)
Sell the Deus Ex strength
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.
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.
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.
"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.
Don't have access to bloomberg but when was the last time bid to cover was this high? march 09?
never
Yikes...
Should've used the deer dude...
Good thing you can eat USTs
Bubble [cough, COUGH]
How can this be rational behavior? if it's 0%, you might as well just have cash.
If you can stuff it under you mattress.
Otherwise your bank might go bust.
They just paid commission to get their money back in a month..
As opposed to...
thats what i dont understand ....this behaviour of these millionaire investors
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.
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.
http://www.economagic.com/em-cgi/charter.exe/fedstl/m1sl
http://www.shadowstats.com/charts/monetary-base-money-supply
And you better have a pretty big mattress if you want to hold that kind of cash.
Re: "when was the last time bid to cover was this high?"
Maybe in the 1930s
http://chart.ly/uploads/i6cscnd.png
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?
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!
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.
http://en.wikipedia.org/wiki/Multiple_comparisons
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.
I'd like to know as well.
Ruh roh.
Who shouted fire in the theatre this time?
Must be a league game...Mark it zero, Dude.
how much do you want to pay BNY to hold your cash?...lol
http://online.wsj.com/article/SB1000142405311190336650457648812396546801...
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
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.
shit, i'll given em 75% back. a 25% haircut may not be a bad thing...