Except this one is over 10 times worse.
I'm sure that we are about to find out what precipitated this mass flight to safety.
Fasten your seat belts.
What is your opinion about ICE cancelling the dollar trade index?
http://www.marketwatch.com/story/ice-cancelling-dollar-index-trades-above-7650-2009-11-20
What Is IRX?
"I think the IRX is the best indicator of what is taking place in the credit markets. What is the IRX? It is the rate on the 3 month treasury bill. Plain and simple. When the IRX collapses (the RATE implodes and the PRICE sky rockets) it typically means credit markets have collapsed. When credit markets collapse, there's no place for banks to put money to actually make money except for treasuries. And that's where the money goes in the situations like we are seeing now. Banks buy up treasuries, pushing the prices up and rates down."