I know, I didn't believe it either at first. This mainly comes from experience, so I dug into it a little more and this is what I found.

My trades, all selling at 1.33:

May 29th: http://gyazo.com/88648bd954116660002740e9ec5cbf69 2 sold

May 27th: http://gyazo.com/3144cc5905770f50ab84bf8e78ff508e, http://gyazo.com/98c5df4b8842d009d1409ff44ce17e9c, and http://gyazo.com/03ab2b9c717385a24f56f4c4489d9fe7 3 sold

May 25th, biggest day yet: http://gyazo.com/a050c38342b0843faa95faa6f9ed0f97, http://gyazo.com/b5e6154fcbb8decfa9025069f76ed8da 5 sold.

May 24th: http://gyazo.com/bbdeefe24b9f5495853e99b6c41309e3 One Sold

May 23rd: http://gyazo.com/be6564da2d9aff4b77efea08e4d9d0b1 One sold

Last time I bought one of these for 1 ref: http://gyazo.com/9b0cd5ec45715fae9d6cbd66284dc12c May 23rd.

SOLD/WILLING BUYERS:

http://www.tf2outpost.com/trade/11272744 1.33

http://www.tf2outpost.com/trade/10584740 1.33 (based on item history, he has sold [b] at least 4[b]

http://www.tf2outpost.com/trade/11297137 1 ref (in under a day)

http://www.tf2outpost.com/trade/11284994 1 ref (in under a day)

http://www.tf2outpost.com/trade/11300884 1 ref (an add in under a day)

http://www.tf2outpost.com/trade/11229397 1 ref

http://www.tf2outpost.com/trade/11201253 1 ref (2 adds, inactive trader)

UNSOLD:

OFFERS:

http://www.tf2outpost.com/trade/11174357 2 ref o.o

http://www.tf2outpost.com/trade/10859973 1.66

http://www.tf2outpost.com/trade/11103188 1.33, seller was only looking for genuine items

http://www.tf2outpost.com/trade/11280241 1 ref declined

http://www.tf2outpost.com/trade/10306870 1 ref

STILL NEW:

http://www.tf2outpost.com/trade/11314161 1.33

http://www.tf2outpost.com/trade/11323357 1.44

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Conclusion: If they were really 1 ref flat, I'd have gotten some more by now. I have been out of stock for several days now. Still possible to buy it for 1 ref, but very easily sold for 1.33 as well.