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Treasury Cash Drops By $15 Billion Overnight, At $51.6 Billion; $5 Billion In SFP Bills Roll Off

Tyler Durden's picture


Two weeks ago Zero Hedge first presented the comparison of the Treasury cash balance to cash equivalents held by global public companies (a meme that has since propagated in a very dumbed down and unattributed fashion). Here is the update. As of last night, the US Treasury had just $51.3 billion in Federal Resere cash, and furthermore, Tim Geithner let the $5 billion in residual CMBs under the Fed's Supplementary Financing Program mature without rolling. In other words, the Treasury just burned $15 billion, or $20 billion when accounting for the CMB roll off, overnight. At this burn rate there is precisely 3 days or so of cash, although this naturally does not include the bulk payment due to SSTN discussed previously. It is now officially time to panic, although those who so wish, can put their money in not just Apple ($76.2 billion), but GE ($136.4 billion) and Microsoft ($62.4 billion) all of which have more cash than Tim Geithner. Of course, as Gartman put it, in three days everyone will have more cash than the US Treasury. Incidentally, someone may wish to inform the irrelevant data chasers that a far better comparison is that of the US Treasury not to companies that have X cash, but to those that have a $15 billion cash burn per day.

And a history of Treasury cash:


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Fri, 07/29/2011 - 16:21 | 1506286 mynhair
mynhair's picture

Who got bribed this time?

Fri, 07/29/2011 - 16:22 | 1506289 mr.glitch
mr.glitch's picture

Yawn...So when do gold and silver start moving in a big way?

Fri, 07/29/2011 - 16:41 | 1506367 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Gold has been on a big run!  Where have you been?  But when will they move together "in a big way"?  The end of August, through fall, and into winter.

Fri, 07/29/2011 - 17:00 | 1506439 mr.glitch
mr.glitch's picture

I've been stacking physical on the way up, I'm well aware of the "big run" you are talking about.  Seeing as how people are not rushing into gold and silver right now amidst the looming crisis, the prices appear to be rangebound.

I was thinking we'd see SOMETHING as a catalyst for the next leg up this week but it hasn't happened, which leads me to believe the next leg will be down in a big way.

Why "end of August" as the beginning?  Isn't this whole facade worth a few bucks of premium on spot given the consequences we are facing from both a domestic and international front?

Gold and silver not running to new highs all week is foreshadowing bad things for commodities.



Fri, 07/29/2011 - 18:55 | 1506726 AustriAnnie
AustriAnnie's picture

"Gold and silver not running to new highs all week is foreshadowing bad things for commodities." the short run perhaps.

I HOPE the next leg will be down.  It makes me giddy just imagining how many more shiny maple leaves I can buy for the money!  

Fri, 07/29/2011 - 19:06 | 1506755 LongBalls
LongBalls's picture

QE 3 is coming. My precious to the moon.....MMMMM my precioussssss...

Sat, 07/30/2011 - 02:26 | 1507354 StychoKiller
StychoKiller's picture

Perhaps everyone is waiting to BTFD after the debt ceiling gets raised, I know I am!

Fri, 07/29/2011 - 16:23 | 1506292 LaughingMan
LaughingMan's picture

Everything that rises must converge.

Fri, 07/29/2011 - 16:23 | 1506293 davepowers
davepowers's picture

prediction - next week's Fed balance sheet will show a sizeable boost to the Treasury checking account at the Fed, offset by a corresponding reduction of bank reserves at the same place.

what the typist giveth, the typist taketh away

and vice versa



Fri, 07/29/2011 - 16:26 | 1506295 bob_dabolina
bob_dabolina's picture

Harry Reid has said extremists have locked down the White House. 

He says they have vests laden with deficit cutting measures. They are threatening to bring responsibility to our government. 

If they succeed, it's the end of life as we know it he says.

Nancy Pelosi says, if they succeed it's the end of life on planet Earth. 


Fri, 07/29/2011 - 16:29 | 1506315 mynhair
mynhair's picture

Pelousy was referring to herself.

Fri, 07/29/2011 - 16:35 | 1506328 dwdollar
dwdollar's picture

They fail to see that more and more people want life to end as we know it and a new paradigm to emerge.

They should be careful using that scare tactic.

Fri, 07/29/2011 - 16:51 | 1506363 bob_dabolina
bob_dabolina's picture

So we won't all turn into stone if the debt ceiling is not raised? 

Tell that to the 100% of senate democrats that voted against raising the debt ceiling INCLUDING HARRY REID & OBAMA (while Bush was in office)

Harry Reid and Obama would have been considered "extremists" in their own words (by their own standards) just a few short years ago. 

Fri, 07/29/2011 - 16:47 | 1506345 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

And Mel Watt just screamed his head off about lord knows what.  And now Fwank is on the mic, looking like he just swallowed his tongue.  Name calling, name calling, name calling.  And Shiela Jackson Lee urges the President to invoke a debt raise on his own, which is insane.  She is insane.  Repubs look just as stupid.  They have not brought up one real issue on why the debt is a problem.  The problem is this country has handed over all their wealth to an group of corporate banks.  There is no accountability from either side.  Both ignore the problem:  Monetary and fiscal policy is a sham. 

It is run by a private banking cartel known as the Federal Reserve System.  The "Fed" and its cartel of globalist banking housees seem to be in the clear, while politicians nit pick about the crumbs that are left out of the people of the Unidted States of America's pocket.

One big circus, I tell you.  One big circus.

Oh, and the US government will default.  Yes they will.  And then the BIS, IMF, and World Bank will swoop in and treat the situation like they do with failed 3rd world states.  They will use as collateral the gold on the Fed's books, the debt/GDP of the US, and the other credits and obligations of the Treasurie and Reserve Bank.  Good luck America, for we hardly knew thee.

Fri, 07/29/2011 - 16:47 | 1506391 Vic Vinegar
Vic Vinegar's picture

Okay this is another comment that should be locked-in.

Is your picture showing the Motor City Madman?  I don't like these small photos.

Fri, 07/29/2011 - 16:52 | 1506416 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

John Carpenter's They Live.

Fri, 07/29/2011 - 16:57 | 1506430 Vic Vinegar
Vic Vinegar's picture

Then that must make you the Street Preacher:

Outside the limit of our sight, feeding off us, perched on top of us, from birth to death, are our owners! Our owners! They have us. They control us! They are our masters! Wake up! They're all about you! All around you!

Fri, 07/29/2011 - 16:50 | 1506408 Piranhanoia
Piranhanoia's picture

It's just a television show with bad actors that have voluntarily canceled their pensions and future plans of world domination. You can turn it off.

Fri, 07/29/2011 - 19:01 | 1506741 AustriAnnie
AustriAnnie's picture

+ gazillion green up-arrows!  This party-blame-game has been going on for an eternity.  Like Ron Paul said, people should stop talking about the U.S. defaulting.  It already IS defaulting.  What does your dollar buy you today?  What will it buy you in five years?  Default has hit Americans square between the eyes and they still don't recognize it.

Fri, 07/29/2011 - 16:48 | 1506395 glenlloyd
glenlloyd's picture

Perhaps she really means it's the end of life on planet Pelosi?

Sat, 07/30/2011 - 02:28 | 1507356 StychoKiller
StychoKiller's picture

Solution seen in Tiawan:

(and clampers will be violated!)

Fri, 07/29/2011 - 16:23 | 1506297 Vic Vinegar
Vic Vinegar's picture

a meme that has since propagated in a very dumbed down and unattributed fashion

It's on the top of Drudge right now.  Drudge sometimes links to some shitty sites.

Fri, 07/29/2011 - 16:24 | 1506299 lieutenantjohnchard
lieutenantjohnchard's picture

since gold is not money as bernanke says wonder if after 3 days at the $15b/day burn rate if tiny tim would like to test bernanke's hypothesis.

Fri, 07/29/2011 - 16:25 | 1506304 bania
bania's picture

Gartman - always good for a chuckle, whether you laugh with him or at him!

Fri, 07/29/2011 - 16:34 | 1506331 bob_dabolina
bob_dabolina's picture

Gartman knows when earthquakes happen before earthquakes even thought about it.

Fri, 07/29/2011 - 16:43 | 1506376 CrimsonAvenger
CrimsonAvenger's picture

Gartman doesn't use sunblock; the sun uses Gartmanblock.

Fri, 07/29/2011 - 17:01 | 1506431 bob_dabolina
bob_dabolina's picture

The moon doesn't revolve around the earth; the moon revolves around Gartmans portfolio, and the Earth revolves around the moon

Fri, 07/29/2011 - 16:26 | 1506305 davepowers
davepowers's picture

got a question

since the Treasury has tapped all sorts of Fed retirement accounts, does that mean that once the debt ceiling is lifted, the Treasury will have to 'pay back' what it tapped? And, if so, won't that more quickly eat up whatever debt ceiling room is added?

ok, that's two questions

Fri, 07/29/2011 - 16:30 | 1506318 mynhair
mynhair's picture

1. No.  It's defined benefit.

2.  See 1.

Fri, 07/29/2011 - 16:41 | 1506343 davepowers
davepowers's picture

then what funds have been tapped, if any?

tyler has been posting all sort of articles over the last month or so which I read (possibly wrongly) as tapping retirement accounts at the Federal level.

here's an example

once the ceiling is raised, will the Treasury have to reverse this plunder, thereby consuming headroom within the new debt limit?

Fri, 07/29/2011 - 16:44 | 1506380 Larry Darrell
Larry Darrell's picture

Tiny Tim was not tapping the accounts themselves.

He was tapping new money that was supposed to go in to fund said accounts.

So instead of taking X number of dollars from tax receipts and paying into the accounts, he took the X dollars and spent them elsewhere.

Since government parasites are on defined BENEFIT plans instead of defined CONTRIBUTION plans, he does not have to immediately put the money that was supposed to go into the funds into them when he gets his new money.  He can put it in when he feels like it because, well, we are ruled by psycopaths who do what they want when they want.

Of course, this only causes those funds to run out of their promised defined benefits to federal retirees later, but hey, this is Amerikka, and we steal from our children.

Fri, 07/29/2011 - 17:23 | 1506510 davepowers
davepowers's picture

thanks for the explanation

i wonder which of our leaders will make a big deal about it if Treasury persists in leaving a another dry IOU in the retirement accounts?

Fri, 07/29/2011 - 19:08 | 1506763 AustriAnnie
AustriAnnie's picture

They will all pretend to make a big deal about it, then promptly write more checks to their special interest group of choice.

Fri, 07/29/2011 - 16:44 | 1506382 mynhair
mynhair's picture

Depts, such as the USPS, are supposed to put in token cash to the account to give the appearance of solvency each quarter.  That's the gruel being stolen.

Fri, 07/29/2011 - 16:49 | 1506404 JohnG
JohnG's picture

That's what's supposed to happen, but will it?  Do you trust these bastards?

Sat, 07/30/2011 - 02:32 | 1507359 StychoKiller
StychoKiller's picture

The purpose of a system is what it does!  What is the purpose of this system?

I "Trust" this system to eventually shaft most Public Employees and NOT pay them what the Govt owes them.

Fri, 07/29/2011 - 16:31 | 1506310 EscapeKey
EscapeKey's picture

GE's got $136bn in cash? Presumably those are stashed overseas. Additionally, don't GE have some crazy mountain of debt?

Anyway, it's probably a good thing they put the money to use, while it still has some kind of worth. USD/Yen @ 76.88.

Fri, 07/29/2011 - 16:36 | 1506344 EscapeKey
EscapeKey's picture


Total debt: $472bn.


Balance Sheet Total Cash (mrq): 136.40B Total Cash Per Share (mrq): 12.86 Total Debt (mrq): 472.00B Total Debt/Equity (mrq): 361.96 Current Ratio (mrq): 180.73 Book Value Per Share (mrq): 12.08
Fri, 07/29/2011 - 16:44 | 1506377 Freebird
Freebird's picture

Chf 78.64

Fri, 07/29/2011 - 16:33 | 1506311 mynhair
mynhair's picture


As good at cash management as he is at filing taxes.

Best and Brightest (of all the dim bulbs in the drawer).

Fri, 07/29/2011 - 16:32 | 1506323 equity_momo
equity_momo's picture

BRING OUT YOUR DEAD.   Im sorry i cannot be bothered with intelligent discussion tonight. Bwarnet Fwank just put me off my dinner so im going to sit on my porch sipping Bourbon whilst polishing my metal until the blinding light.

Anyone offering pain free solutions now is as high as Amy Winehouse was circa 4 days ago. A hail of bullets or a ball of fire.  Enjoy your choice.

When the "extremists" are the only ones with answers you know your country is fucked.

Fri, 07/29/2011 - 16:35 | 1506342 mynhair
mynhair's picture


Bring out yer banks!

(ding ding)

Bring out yer banks!

Happy FDIC Friday!

Fri, 07/29/2011 - 16:59 | 1506433 andybev01
andybev01's picture

"I'm not insolvent yet..."

Sat, 07/30/2011 - 11:03 | 1507635 Iam_Silverman
Iam_Silverman's picture

Now that was funny!

I'm sure the three that made the list last night were saying the same thing!

Fri, 07/29/2011 - 17:46 | 1506486 DosZap
DosZap's picture


There are around 200 million "extremists", give or take, likely more.

The EXTREMIST's are the idots holding the World hostage over a 2012 Election Bye..............

Now that a balanced Budget Amendment is required, even Obama won't sign off on it............if he get's it past the election cycle.

I hate that the Walter Mittty of the Senate is the #2 Extremist.

Fri, 07/29/2011 - 16:32 | 1506327 YesWeKahn
YesWeKahn's picture

How they could have such high burn rate. If this was a public corporation, it would have been delisted, and Ch11'd long time ago.

Fri, 07/29/2011 - 16:33 | 1506335 The Axe
The Axe's picture

Of course this means that Monday will bring a huge rally....of course....

Fri, 07/29/2011 - 16:37 | 1506339 kevinearick
kevinearick's picture

Schools of Fish

The point of the Internet is to develop global communities of apparently random leadership, which requires intimate community relationships, beyond the knowledge of the sharks. If you do not know what you are going to do next, neither can the shark. The school looks like easy prey to the shark, but it loses interest quickly with each hunting failure, leaving it only its own algebraic reduction. The key at that point is replacing the divide and conquer mentality of good and evil with understanding that systems result in distributions of behavior within which individuals fall. As you improve social circulation / elasticity in your community, system economic profit increases. The planet requires a return on its initial investment in your surplus.

There will always be plenty of participants choosing to fall behind and become slaves to monetary masters, thinking that money is intrinsically valuable. Floating downstream is much easier than swimming against the current. The shark doesn’t go hungry; it fulfills its purpose. The point of the school is to protect and develop its youth toward self-sufficiency and surplus to open the NPV window, so kids may enter into the corporate contract as equals. Corporations and their ilk cannot think; they can only negotiate, seeking to catch the fish in a barrel before dropping the lure.

The economy is crashing because communities are providing the barrel and all participants are competing to become increasingly stupid, relative to those moving into the future. Because of the Internet, which is transitional by nature, the Corporation may no longer predict future behavior, leaving it to consume increasingly scarce resources with inelastic social processes. In fear, it seeks more and more control, automatically tightening the noose around its own neck. Now, its policy is to hire only the competitors still working for the system, which may only accelerate the result.

So, I’m in a town with “stated” 15% unemployment and all kinds of stimulus coming in, but the employers will not hire the locals and the local property owners will not rent to anyone without a job secured by the Corporation, to lure new participants into the barrel.

Have a nice day.

Fri, 07/29/2011 - 16:38 | 1506357 mynhair
mynhair's picture

You really need to go to a TEA party.  You are making the same mistake as all the Establishment types by not realizing 'this time is really different'.  There is a sea change occurring in politics; don't be left behind.

Fri, 07/29/2011 - 17:31 | 1506532 Use of Weapons
Use of Weapons's picture

The Koch brothers thank you for your continued donation of time and effort spent posting on their behalf.

Sat, 07/30/2011 - 02:37 | 1507361 StychoKiller
StychoKiller's picture

So, are you a Decepticrat or Republicon?  According to most, those are your only other valid choices...

Sat, 07/30/2011 - 12:11 | 1507752 Sven Sikztu
Sven Sikztu's picture

consider watching something other than CNN, okay? that those are the only two options is ludicrous. Those two groups are merely the ones the System loves to give you so you will stay uninvolved in changing said System due to extreme disgust with either.


Fri, 07/29/2011 - 16:38 | 1506347 wrs
wrs's picture

What exactly is cash?  If it is a T-Bill maturing in August, how is it considered cash?

Seems to me that all holders of  T-Bills maturing in August are in danger of being illiquid in much the same way the Auction Rate Security holders were back in 2008.

Fri, 07/29/2011 - 16:40 | 1506365 mynhair
mynhair's picture

Cash is the stuff you find in your couch.  Go Zen elsewhere.

Fri, 07/29/2011 - 16:43 | 1506375 tim73
tim73's picture

This is so retarded even real retards shake their heads in disgust. They are about to make the biggest self-screwing clusterfuck ever since the civil war. Even the proposed budget cuts are only about 100 billion dollars per year when the real cuts should be ten times bigger.

Fri, 07/29/2011 - 16:44 | 1506378 Piranhanoia
Piranhanoia's picture

2008 chart data looks good. I am sure it is real accurate.  I am blowing soup out my nose.

Fri, 07/29/2011 - 16:44 | 1506381 karzai_luver
karzai_luver's picture

I just don't understand their problem.


Don't we have a carrier group or two on the floor?


I asm sure we could get a year or two of spending if we sold off a couple of them.


What's the problem????????????


With any luck after they are sold they will take out enough bankers to seed the recovery.


Fri, 07/29/2011 - 16:48 | 1506394 drink or die
drink or die's picture

No, that will hurt "jobs".  You see, all the parts that are used to service and maintain and build those carrier groups are purposefully spread over all 50 states.  Thus, no senators will vote to kill that, because it will hurt jobs in their state.

Fri, 07/29/2011 - 16:48 | 1506401 mynhair
mynhair's picture

Better to rent out, than sell.

Hear Iran is in the market for a couple of them through Lloyd's, then sink them!  Collect damages from Iran = profit!

Fri, 07/29/2011 - 17:32 | 1506535 Use of Weapons
Use of Weapons's picture

Ask GS about Libya, and the cost of the SAS over there.



Sat, 07/30/2011 - 02:39 | 1507365 StychoKiller
StychoKiller's picture

Now that's thinking outside the box!  I'm interested in subscribing to your newsletter...

Fri, 07/29/2011 - 16:46 | 1506386 DonnieD
DonnieD's picture

Seems like most people I talk to are content to let this sucker sink. I assume that's because this economy has done nothing for them. Sniveling CNBC hosts can't understand this logic. They can't understand how people don't want another 2.5 trillion pumped into a corrupt financial system so their retirement account doesn't decline 5%. Whoopy-dee-fucking-doo if you still don't have a job and a loaf of bread now costs $10.

The tail is wagging the dog. All of our policy decisions are made to avoid a 5 point drop in the S&P or because they're worried about what will happen "when the Asian markets open". What an absurd way to run a country.

Fri, 07/29/2011 - 16:46 | 1506387 kito
kito's picture

we dont panic at ZH. we are all able bodied and well prepared for this. 

Fri, 07/29/2011 - 16:46 | 1506389 tim73
tim73's picture

"Improving Mexican economy draws undocumented immigrants home from California"

That is so funny :)

Fri, 07/29/2011 - 16:53 | 1506418 Vic Vinegar
Vic Vinegar's picture

Conan had a funny joke about this theme last night.  His show is so much better now that he's away from the pressure of the Tonight Show.

Fri, 07/29/2011 - 18:14 | 1506618 Freebird
Freebird's picture

"Improving Mexican economy draws undocumented migrants from California"

There, fixed it.

Fri, 07/29/2011 - 19:30 | 1506825 AustriAnnie
AustriAnnie's picture

You bet!  Why would I stay here and pay for this mess when I can work in Latin America, put my parents in a hammock on the beach down the street from affordable health care, and know they'll be taken care of?  Why would I stay here and pay into a dead system that won't do a thing for me or my ageing parents?   

My dad likes the ceviche and the sunsets down there.  He won't miss the Social 'Security" check one bit.

Fri, 07/29/2011 - 18:17 | 1506619 Freebird
Freebird's picture

Heard about the mamma in Shenzen telling her 5 year old to eat up all his rice as there are 45 mil. on food stamps & starving in the States.

Dupe recovery?

Fri, 07/29/2011 - 16:48 | 1506397 drivenZ
drivenZ's picture

As much as i would like to think now is the time to start panicking...i dont think it is.

this isn't the end...this is a manufactured crisis. you saw it yourself today. Yields for the 10 year are going down? yes. Everyone knows at some point the ceiling will be raised the US will issue debt and everyone gets payed. Everyone also knows the fed is rolling treasuries and may do more QE.

nobody cares, there isn't going to be a huge credit freeze. This isn't Lehman. Sorry, but it's not. To many people(cough cough, china) have too much invested to let shit hit the fan. when all else fails they will print...and the scheme will keep going.

Fri, 07/29/2011 - 16:52 | 1506410 mynhair
mynhair's picture

Panic?  No way.  Just went to Wally World and got 5 large boxes of popcorn!

My new 7-11 up the street even orders extra beer for me!  Would have the truck just drop it off, but those 50 footers are banned here.

Fri, 07/29/2011 - 16:53 | 1506417 kito
kito's picture

sounds bullish gold to me

Fri, 07/29/2011 - 16:58 | 1506423 mynhair
mynhair's picture

Yada yada yada.  Like you'd ever part with physical.  (Kinda like me.)

When will the miners react?

Beck is selling overpriced silver to support his Israel push, just to get the turban-tops upset.

Ok, camel jockeys.

Fri, 07/29/2011 - 17:05 | 1506458 flattrader
flattrader's picture


You are such a kill-joy.

It's so much fun to talking about stringing-up or stoning bankster, politicians, etc...feigning outrage, displaying false bravado while hiding behind our computer screens.

(The first rule of fight club is you don't talk about how small your dick really is.)

Please let us know when it's time to panic.

I'm watching Europe myself.

Fri, 07/29/2011 - 17:01 | 1506443 Wipewithpaper
Wipewithpaper's picture

I will gladly loan them some of my fiat at 33% interest, Greek Style loan. Eventually, they will print more and I can get some more fiat back.

At 33% I just might this year be able to keep ahead of the print machine, but who knows next year.

OH well, I can always use the returned paper for my posted name.

Everyone have a good weekend.


Fri, 07/29/2011 - 17:03 | 1506449 RobotTrader
RobotTrader's picture

<--I wish my wife looked like Amy Winehouse (+ 15 lbs.)

<--I wish my wife looked like Casey Anthony (less 15 lbs.)


If stocks, bonds and gold all took off huge on Monday with the dollar tanked, then you know its the start of a huge "Weimar Run".

Then you must be long anything that is not nailed down.

Anyone notice that the EEM closed green today?  That always happens when the market bottoms.

Fri, 07/29/2011 - 17:38 | 1506553 Vic Vinegar
Vic Vinegar's picture

You have the best polls on this site! 

Note that some readers may be Of Two Minds about their answer on this one, Charles Hugh Smith-style.

Sat, 07/30/2011 - 10:58 | 1507623 Iam_Silverman
Iam_Silverman's picture

"<--I wish my wife looked like Amy Winehouse (+ 15 lbs.)"

And a pulse?

Fri, 07/29/2011 - 17:06 | 1506456 Zymurguy
Zymurguy's picture

Monday's headline:

"Gun store sales surge over weekend"

Fri, 07/29/2011 - 17:14 | 1506483 Happy Days
Happy Days's picture

So what's the possibilities for this soap opera brought to you by the fine people in Dump City:


1. They will just print like they always have in the past.

2. Maybe they won't print (initially, that is) to create a panic situation for your enjoyment. Then the sheeple will cry mercy...(read SS, Medicare, welfare and the like)...after having been lead to the slaughter house and given a reprive. Then print.

3. RockeF$&$er, Rotschild and ASSociates use the opportunity to not let a good crisis go to waste and seize it all (Gold?...they did it before, IRA's,land, your first born, wife, husband...whatever) and  make the sheeple bend over (like thay have, so far) for servicing the account...maybe a little bit more war(s) then print.

4. Crash everything, new currency, then print

5. Fail the TBTF's, return to all the principles laid out in the Constitution to the letter. Prosecute accordingly and we are back to the Constitutional Republic originally intended...wait 4 generations, then print.

I'm sure I missed something, but does it matter at this point? Sheeple do what sheeple do...nothing but bending over.


So, if there is to be any hope, you all tell the sheeple to stop going to work, right now! Someone might take notice of that.

Fri, 07/29/2011 - 21:39 | 1507025 wwwmm
wwwmm's picture

removed content (advertising spam)

Fri, 07/29/2011 - 21:47 | 1507062 wwwmm
wwwmm's picture

removed content (advertising spam)

Sat, 07/30/2011 - 00:32 | 1507274 Syntaxkat
Syntaxkat's picture

fuck, this is bullshit. the short bond trade is being blamed on soros or gross.  its evident the possible is plausible n the bad guy is created.  its free money for the insiders. 

Sat, 07/30/2011 - 00:38 | 1507282 Syntaxkat
Syntaxkat's picture
Investors: The $1 Billion Armageddon Trade Placed Against The United States

Sat, 07/30/2011 - 07:25 | 1507464 Shineola
Shineola's picture

 Of course, as Gartman put it, in three days everyone will have more cash than the US Treasury.


Great!   Now, I can take out a home equity loan, hire some mercs, and invade the small oil producing nation of my choice.    EXXXXCELLENT!!!

Sat, 07/30/2011 - 11:46 | 1507704 hungarianboy
hungarianboy's picture

Looking at the chart before 2008 they had even less cash and the market marched higher and higher. Wouldn't it be worrysome if this was going up and not down? 

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