Maybe JS is expecting quite reasonably that a bond auction is gonna fail soon, it has to happen at some point, just as elastic violently snaps when the pressure overwhelms. At that point, the $ and the Fed are Dead and all those traders, hedgies, investment banksters slide over from the other side of the ship to join the small but merry band of us invested in ECU and the other auag miners. Meanwhile, pass the rum, me hearties!

DNB