27
11/09
Something Wicked this Way Comes (Again-Thank you Banksters!)
by John Galt
November 27, 2009
Needless to say on this day of eating, giving thanks and eating, we were all getting fatter, dumber and happier while the rest of the world chugged on and announced their problems into the vacuum of the American financial media. Well, the Internet has guaranteed this void has been filled and the news is disturbing. I’m going to post two charts that tell the tale of the problems we are about to witness and endure. The first chart, the ETF UUP, indicates that if we don’t get a short to intermediate term recovery, this sucker is heading downtown and big time. The Dubai crisis might just save the dollar thanks to our friends in Europe taking it in the shorts from this crisis but the U.S. will not go unscathed thus why there were lights on at so many banks and trading desks today.
The second chart is that of our 2 year Treasury Yield and folks, we haven’t been here since, well, see for yourself:
Tonight the yield is 0.66%, 1 beep above the disaster of last winter.
Buckle up gang and get ready for Benron and Geithner to pay lip service and proclaim all is well.
That worked out real good for the employees at Lehman, WaMu and the United States Taxpayer last year, didn’t it?
0400 update:
As you can see from the chart at about the time the Arab region markets opened, someone sold a buttload of gold. That is your tell tale sign of someone in desperation attempting to raise cash quickly. While this is a volatile number the 2 Year Treasury yield is now 0.63% a new low since these series of crisis have begun. Stay tuned, this will not be a dull day.
