THE MANEUVER HAS FAILED

Last August 20th, US Treasury Secretary Scott Bessent announced that the federal government would double its long-term public debt buyback program, going from 2 billion dollars to at least 4 billion dollars per operation.

This policy change will take effect from September 9 to November 4, 2026, and will directly affect Treasury bonds with maturities between 10 and 30 years, with the stated goal of providing liquidity to the market and stabilizing yields, which had shot up sharply.

On August 22nd I wrote that "THE MANEUVER HAS ALREADY ALMOST GONE TO HELL".

Today I can drop the "almost". 😂

Both the 10-year and the 30-year have broken through their previous relative highs. Highs that, according to the narrative 😂, had caused "concern" 😂 and had triggered the maneuver in the first place.

As I said on August 22nd, these maneuvers are just band-aids, meant to buy time so they can eventually get around to doing... what's always been done: dump their hamburgers onto the rest of the world.

With the Japanese carry trade increasingly on a knife's edge, and with the by-now-proven uselessness of these maneuvers, it's obvious — just do the math — how "Madam" Ursula's words about European savings start making sense:

"Europeans have savings in their accounts. But they're lazy."

The Americans had to, and still have to, find, by any means necessary, the next suckers who'll pull the cart while paying into the collection plate. 😂

And the Americans know perfectly well what they need to do to make European savings less lazy.

This is the lens through which to view the war on Russia; this is the lens through which to view the problems at Hormuz; this is the lens through which to view the GENIUS Act; this is the lens through which to view... whatever's coming next. 😂

Which probably takes the shape of a cucumber. 😂😂😂