Mon, 21 April 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.
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