I have been saying for a while now that there is no conceivable buyer for all of these treasuries.

This is not a good sign for the USD. It is a good sign for the price of gold.

Hat tip to Tyler Durden

$75 Billion In New Treasuries On Deck
Submitted by Tyler Durden on 08/05/2009 15:10 -0500

If you missed your chance to stock up on double ply UST (T is for toiler) paper, fear not: you will have another chance to buy some again… and again… and again. The first opportunity will be on August 11th and 12th, when a total of $75 billion pieces of paper, backed by another rapidly deflating piece of paper will be made available for your indirect (or is that direct?) auction pleasure.

Specifically:

$37 Billion in Three Year Notes;

$23 Billion in Ten Year Notes;

$15 Billion in Thirty Year Notes;

And here is how America became $304 billion dollars more indebted to China (and Itself compliments of monetization), since July 24. That’s a almost a third of a trillion in new debt issued in under a month.

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