2011年10月14日 星期五

Foreigners Dump $74 Billion In Treasurys In 6 Consecutive Weeks

www.zerohedge.com

Over the weekend, we observed the perplexing sell off of $56 billion in US Treasurys courtesy of weekly disclosure in the Fed's custodial account (source: H.4.1) and speculated if this may be due to an asset rotation, under duress or otherwise, out of bonds and into stocks, to prevent the collapse of the global ponzi (because when the BRICs tell the IMF to boost its bailout capacity you know it is global). We also proposed a far simpler theory: "the dreaded D-day in which foreign official and private investors finally start offloading their $2.7 trillion in Treasurys with impunity (although not with the element of surprise - China has made it abundantly clear it will sell its Treasury holdings, the only question is when), has finally arrived." In hindsight the Occam's Razor should have been applied. Little did we know 5 short days ago just how violent the reaction by China would be (both post and pre-facto) to the Senate decision to propose a law for all out trade warfare with China. Now we know - in the week ended October 12, a further $17.7 billion was "removed" from the Fed's custodial Treasury account, meaning that someone, somewhere is very displeased with US paper, and, far more importantly, what it represents, and wants to make their displeasure heard loud and clear. Whether it is China - we do not know: we may have a better view in two months when the September/October TIC data hits, but even then it will be full of errors, as Direct Bidder purchases by the UK usually end up being assigned to China at the yearly TIC audit. And the sellers know this all too well. What they also know is that over the next few days (or weeks - ZH tends to be a little "aggressive" in its estimates for popular uptake), as soon as the broader population understands what has transpired, concerns about the reserve status of the greenback will start to resurface, precisely as many have been warning. And what has happened is that in six consecutive weeks, foreigners have sold $74 billion, or more government bonds in a sequential period of time than ever before.

So... perhaps it is time to reevaluate US intentions for a trade war with any of its "evil" mercantilist, UST-recycling partners. Unless, of course, they want $74 billion to become $740 billion, and to force the Fed to have no choice but to intervene, only this time not with a duration sterilized procedure, but one where the Fed has to buy everything that China et al are selling.

On the other hand, judging by the traditional reaction of various precious metals to this kind of fiat suicide, perhaps it is not such a bad idea after all...

27 則留言:

  1. 剛在淘寶落了order, 買一個金銀珠寶電子秤, 可量度安士,兩,金衡安士,g. 見到鴨寮街電器鋪有得賣,同一model, 350蚊.
    計埋運費都係90蚊人仔, 平咁多, 水貨都唔戒意了

    http://item.taobao.com/item.htm?id=8590266971

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  2. Which bullion do you want to weight?

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  3. http://item.taobao.com/item.htm?id=8223579597&ad_id=&am_id=&cm_id=&pm_id=

    旺旺:我總覺得用有罩呢D先夠準確, 而不是"差不多", 開金舖/貴金屬回收店必備:)

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  4. Charen,
    對,有罩的較準,仲要看可以量度的小數位,我公司用的是小數後6位磅,價值50000!還要三個月calibrate 1次。
    不過無両,同金衡安士,度唔到金銀

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  5. 鑽石也未用到小數後6位磅吧,我猜是化驗所。

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  6. 有沒有看視帝套新劇.
    已經呼之欲出了XD

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  7. CSI?

    嘩哈哈,你驗金銀無敵鳥。包呃你唔做啦

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  8. 勁乜呀,同輩,上司個個係叻人,我係符碌入左去,壓力好大。
    結果搵左炒賣來解壓

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  9. 回旺旺,
    以後用買金銀幣的方法減壓啦 !
    買多幾個靚幣, 妳一定會開心好多的 XD !

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  10. 旺旺
    如你驗到有邊的鋪頭金/銀成份唔足.....講聲比大家知好喎..

    卡卡卡

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  11. 旺旺
    The first thing you need to exam is not gold/silver or diamond but the weight itself.

    As a professional, will you trust things selling in 淘寶?

    BTW, why do you exam 上商一兩金粒? Any reason that raised your suspcious?

    Recently, 上商一兩金粒 spread has increasd to $150 (pls see my blog, hehee), almost 1% and is close to Lee Cheong. The spread is even larger than those in gold coins and no reason to buy 上商一兩金粒 anymore.

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  12. 個磅就當然唔準,
    不過差唔多就可以了.
    因為我今次既要求好低:
    上商金粒有膠袋, 只要加埋包裝, 重過一兩我就收貨! 因為唔想折袋.

    淘寶貨品, 有D明知係中國製造的, 係可以買, 因為真係好平. for金銀, 買左甚麼?


    係kitco買的銀幣, 我每個都用膠盒收藏
    膠盒, 東洋買5元一個, 而淘寶有好多款買,圓的方的 只要知道銀幣呎寸,照配就可以了. 普通的, 幾毫子一個(即係東洋那些), 而水晶面的, 就2元一個. 仲有買左銀幣收藏冊, 20蚊, 而好旺角買緊百幾元. 咁我又睇唔到用一個2蚊的膠盒同用東洋的有甚麼分別.

    上商的金粒有少少唔安心唔夠一兩. 因為我買的那金粒表面明顯有一個小孔, 幸好肯換另一個,了解鑄出來的表面一定唔平, 但有小孔就太外眼, 職員說重量仍是一兩無影響的, 信唔信? 唔信, 所以要換.
    其實我都係買左一次上商金粒, 無再買了, 金幣精緻得多.


    其實比較後, 你覺得條還是幣好?之前我覺得無分別, 取決於重量, 買得多,條就容易收藏.
    但現在我傾向金銀, 都是買幣, 因為能容易的在外國買賣這因素加入考慮之列.

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  13. Thanks 旺旺, I also want 水晶面 too. Can you send me the link from 淘寶? Will check if it will be cheaper after adding transportation fee. Afterall, I only need a few capsules only.

    "條還是幣好?" For 9999 gold, coins have narrower spread than bars do. Premium is not important as "high buy, high sell". Spread is more important. So, even for investment alone, coins are more valued for money cf bars.

    However, some bars are also good looking than coins and the hand feeling is better with 5 tael than 1 oz. To the contrary of what other people think, I find bars are more appealing than coins but have to pay more. I'm waiting for my 2.5 oz bar, will show you the picture how nice it is.

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  14. 東洋5蚊隻膠拿應該係德國lighthouse燈塔,係好野來....
    我自己就係洶寶買左的水晶膠盒,質量都算唔錯....

    http://www.lighthouse.us/epages/lighthouse.sf/en_US/?ObjectPath=/Shops/leuchtturm_us/Categories/US/US_2281/US_2395

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  15. 東洋的是lighthouse出品? 估唔到.
    我在這間鋪買:
    http://item.taobao.com/item.htm?id=8685236528&_u=gkhbs5g939d


    其實你地點收藏銀幣呢? 入唔入盒?

    今日去Lisa and Honson介紹的鐘錶鋪買了一個10倍放大鏡, 我買的是無牌子, 但有LED, $230

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  16. 上商買金粒可以要求量重,佢地會攞個電子磅,在你面前磅重。

    我自己的maple silver就由佢一棟係原裝樽裡面,一棟約25個,可以慳位d。

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  17. 收藏銀幣就要對佢好的...入盒,存放在潮箱...

    其餘都會入盒,放入紅A膠箱就算,
    有些楓葉是原裝啤死

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  18. @旺旺

    PCCB/小号水晶圆盒,,質量高..我都有買

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  19. 旺旺:妳提供的買膠盒網頁剛入去睇過,上面標的價錢是否人民幣?都成3元港幣,再加上運費,唔平得幾多喎.

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  20. I got all my 膠盒 from KITCO ..HK$5.00 each .... : )

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  21. 鬍鬚仔:
    2。5是人民幣。咁一次買多少少,再訂下其他用品,運費夠cover啦

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  22. http://www.youtube.com/watch?v=xtZkc4gCF1o&feature=player_profilepage

    Let's share this one ~~~ :)

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