Treasury Sucks Out $366B In One Day As Iran/Israel War Round II Gathers Steam

And copper hits new all time high, which has always corresponded with high "inflation" readouts in the past.

Here Comes the Final Drain

It hasn't showed up on the Treasury cash balance yet but the national debt just jumped by $366,443,892,720.01. I ingeniously came up with that number be subtracting the debt of July 7 by the latest tweet from National Debt Tweets. I’m a freakin' genius.

Remember that final cent now. It's critically important. For dramatic effect or whatever.

Now, maybe there's some weird messed up accounting joke that delays this $366,443,892,720.01 from showing up in the cash balance for another few hours or days, or something. But if numbers are actually numbers, then either reverse repos or bank reserves, or some combination of the two, are about to plummet by that amount, like, tomorrow, or two days from now. And given that the Treasury has already raised 81% of the $450B that that Wrightson thank tank predicted would be raised in this quarter (see last post).

The sudden burst may have something to do with replenishing the "extraordinary measures" that the Treasury engages in whenever they start bumping up against the debt ceiling. Whatever it is, it is. We're on the way, is the point.

So far, reverse repos are stable-ish at $227B as of July 9.

So either there's a delay here as well or all the money that was just raised has been drawn from bank reserves. I guess we'll find out in the next few days.

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