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Well, we’re almost to the point where we have to PAY Uncle Thug to lend him money

I never thought I’d live to see the day that, after racking up:

FIFTEEN TRILLION DOLLARS OF DEBT

…people would be piling into 4-week T-bills and accepting ZERO interest.

But here we are.

Look for yourself:

http://www.treasurydirect.gov/instit/annceresult/press/preanre/2011/R_20110823_2.
pdf

There it is, in black and white: Treasury auction results: ZERO interest rate.

So, what’s next? Us PAYING Uncle-T for the “privilege” of loaning him money?

And, so much for “credit rating downgrades”. Sheesh, if S&P were to lower Uncle’s credit rating to “Default”, 30-Treasury rates would probably collapse to 1%…LOL

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