"And there's your trade. Everyone is betting on this one idea - that the Fed
will never lose control of interest rates and the US Treasury will never have a
failed auction. The same way nearly every major financial player on the planet
was willing to bet that US real estate could never fall for an extended period
of time.
And we all know how that trade worked out.
Timing, please?
Of course, the big question for most Zero Hege readers is not if this will
happen, but when.
Who knows? Not me. Not Paul McCulley. Not the Bernank. Not Timmy G. Not
any financial pundit or TBTF economist. No one knows..."
at http://www.zerohedge.com/news/guest-post-there-will-never-be-failed-us-treasury-auction-until-there
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