"The mass dump in Treasurys explains the $100 swing higher in gold in the past month."
1/12/12, "Foreigners Sell Record $85 Billion In Treasurys In 6 Consecutive Weeks - Time To Get Concerned?" Zero Hedge, Durden
"Last week, when we pointed out what was then a record $77 billion in Treasury sales from the Fed's custody account, in addition to noting the patently obvious, namely that contrary to what one hears in the media, foreigners are offloading US paper hand over first, there was this little tidbit: "The question is what they are converting the USD into, and how much longer will the go on for: the last thing the US can afford is a
- wholesale dumping of its Treasurys.
- the longest consecutive period of outflows from the Fed's Custody account ever.
- the mass dump in Treasurys
- explains the $100 swing higher in gold in the past month."
via Instapundit, chart Zero Hedge