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You'll be buying $10k worth of bonds. They don't have to come necessarily in $100 pieces and keep in mind that you won't be getting exactly $10k notional value of these. Moreover, why do you think you'll get a much lower price than the secondary mkt?

Trying to be as cautious as I can. Only very high conviction trades. Among the main views: continued dis-inflation in Euroland; continued high inflation prints in the UK; outperformance of Swiss and Swedish economies vs their European counterparts. I am relatively bullish on the US eco, but...

Lockhart being predictably hawkish out there, but he's a non-voter. *LOCKHART: `TIME IS APPROACHING' TO WEIGH RECALIBRATING POLICY *LOCKHART SAYS RATES MAY NEED TO RISE AMID HIGH UNEMPLOYMENT

This is some crazeee good sh1t! "Top economic news", indeed... Keep 'em priceless gems coming, senor!

He's talking his book, quite clearly, so I'd take this with a grain of salt. He has, with some success, used a similar stratagem earlier this year to get out of his short Japan trade. Not sure if this will work with the US.

This is a crisis, albeit of a different nature. And I agree, it's very choppy. Still, that's just the way this cookie crumbles, I guess. In bunds, the trade has been very simple, actually. Just go limit long, close your eyes and everything will be just fine. I am only kidding a little.

It's been interesting, yes... But then again, these are interesting times.

They went along mechanically, because machines kept the basis constant.

Find a broker that offers you these: http://www.tse.or.jp/english/rules/derivatives/jgbfo/spec.html

You must be really kidding now, surely?

No, disagree... I know I won't be able to convince you, but money, actually, doesn't necessarily have anything to do with the govt. The govt is an intermediary, though. [B] I assumed that the point I was making is obvious. It isn't, so I'll be more explicit. If the inputs that I need for...

No, Germany will be likely to re-denominate its existing debt outstanding into DEM.

True that, but I am actually concentrating on the demand side. How can we blithely assume this arbitrary demand for gold continues ad infinitum? If you assume that demand for fiat money can come and go, why should we necessarily assume that the demand for gold behaves differently? [B] I am...

Well, this is very touchy-feely, if you ask me, so the rational person in me simply refuses to accept this as a justification. However, the irrational pre-historic hoarder in me definitely agrees. So I own some... [B] Yep, true dat...

That's the bazillion dollar question... As far as I am concerned, nobody knows the answer.

But it isn't it also true that you hold gold because you're implicitly assuming someone will pay you for it? I.e. you own gold, because, in your mind, it represents the world's promise to pay. So, again, it's hard to see the difference between a fiat commodity, like gold, and fiat money...

If you buy a bond issued by a business, you're lending to that business, no? Conversely, if you an individual a mtge, you're buying a collateralized loan... So I still fail to see a clear difference.

Well, can't be all substance all the time, y'know... But look on the bright side, my confused friend. With or without a carrot in my mouth, at least I have some understanding of what I am talking about.

It would be difficult, if not impossible, for me to live in the ECB, seeing as how ECB is the European Central Bank. But you definitely deserve a prize of some sort for your amazing deductive abilities.

Erm, the ECB's inflation target is actually 2% (specifically, price stability means ensuring that EU HICP YoY is not above target in the medium term).