The US had net sales of minus $69.3 billion in August, a positive sales of $60 billion. To put this in perspective, the last time that net sales of long-term securities such as bonds, notes and equities was this bad was when Russia defaulted on its debt.

The dollar is near ist historic low versus the Euro, and the weakness of the dollar is also driving higher oil prices.

This will place further upward pressure on interest rates, to pull the money back, which could make the current situation even more precarious.