Apr 21, 2014
John Rubino
and I connected for our Monday morning discussion.
Imagine if you threw a bond auction and nobody showed
up:
The flagship piece of paper in the world’s third
largest economy;
Nobody wants it—.6 per year interest;
Central bank winds up buying it;
Some other country has to buy it, is arms
length?
In a world that isn’t manipulated this would be a
screaming short.