Gold is up crazy today.

[TexasDevilDog]

http://www.kitco.com/images/live/gold.gif

[midniteblue5.0]

"i needs me gold"..lol

[grove rat]

<embed src="http://www.youtube.com/v/bZfyrIPw3wY&color1=0xb1b1b1&color2=0xcfcfcf&hl=en&fs=1" type="application/x-shockwave-flash" allowfullscreen="true" width="425" height="344"></embed>

[TexasDevilDog]

I found out what happened. Short story, some money market funds were holding bad debt, which they could not maintain their $1 level. Everyone is buying treasuries and drove the short yield to .01%, yes 1/100 of a %. Then everyone fled in to the next safe haven, gold. The credit markets are siezing up. This is not going to be good.

The S&P futures for tomorrow are current down 4%. :o

[Vertnut]

I found out what happened. Short story, some money market funds were holding bad debt, which they could not maintain their $1 level. Everyone is buying treasuries and drove the short yield to .01%, yes 1/100 of a %. Then everyone fled in to the next safe haven, gold. The credit markets are siezing up. This is not going to be good.

The S&P futures for tomorrow are current down 4%. :o
Nice...real nice.

[TexasDevilDog]

Look at these Treasury yield rate curves

Date .......1 mo 3 mo 6 mo 1 yr 2 yr 3 yr 5 yr 7 yr 10 yr 20 yr 30 yr
09/02/08 1.64 1.72 1.93 2.12 2.26 2.51 3.00 3.37 3.74 4.39 4.36
09/03/08 1.57 1.70 1.90 2.08 2.26 2.48 2.95 3.29 3.71 4.36 4.32
09/04/08 1.56 1.69 1.89 2.04 2.20 2.41 2.87 3.21 3.64 4.31 4.27
09/05/08 1.53 1.68 1.90 2.07 2.23 2.44 2.91 3.24 3.66 4.31 4.27
09/08/08 1.59 1.71 1.92 2.12 2.30 2.49 2.96 3.26 3.66 4.30 4.26
09/09/08 1.59 1.66 1.89 2.06 2.23 2.43 2.90 3.21 3.62 4.24 4.20
09/10/08 1.58 1.65 1.87 2.06 2.22 2.42 2.91 3.23 3.65 4.27 4.23
09/11/08 1.53 1.61 1.85 2.01 2.18 2.38 2.87 3.21 3.64 4.25 4.20
09/12/08 1.37 1.49 1.84 2.02 2.23 2.45 2.97 3.32 3.74 4.36 4.32
09/15/08 0.36 1.02 1.55 1.66 1.78 2.01 2.59 2.99 3.47 4.14 4.12
09/16/08 0.23 0.84 1.52 1.72 1.89 2.12 2.64 3.02 3.48 4.12 4.08
09/17/08 0.07 0.03 1.03 1.50 1.64 1.91 2.52 2.93 3.41 4.12 4.08

If they continue to crush the short end, we are in for a whole of hurt. This means many people wants to park their money only in the US Treasury. There is a lack of confidence in the banking system. They would rather get no return on investment, than risk loosing it to a bankruptcy or something else. :o