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Comment by CamelCaseName | Hacker News Reader

Wait, no way!

Someone posted a zoomed up photo of a US official (can't recall who) of a notepad a few days ago saying "To do: Buy Yen 5Y - 10Y" or something similar

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It was US Treasury Secretary Scott Bessent

https://www.reuters.com/world/asia-pacific/bessents-to-do-li...

Bessent wrote that note very large and intentionally left it visible in hopes that it would be photographed and the market would do the work for him. If the market believes the US Government is going to spend $10B on JPY, it will happily price it right in without the US having to spend a penny.

It does have an air of Austin Powers about it.

Dr Evil's notepad in his evil lair.

"To Do: Kill Austin Powers tomorrow!"

These guys never do anything by accident, like when Jamie Dimon said "I probably shouldn't say this, but if you see one cockroach there's probably more".

You don't get to manoeuvre yourself to being the head of JP Morgan by starting sentences with "I probably shouldn't say this" in interviews and then saying something you actually think you shouldn't say

Which is hilarious because 5-10 billion dollars worth of Yen is not going to do much in the grand scheme of things. It’s a speed bump not a stop sign.

I believe that would mean 5-year or 10-year, as in the terms of the bonds. No amount disclosed.

Yet the photo in Reuters article reads "bil."

You are correct, and deserve the up votes. I hadn't seen the actual photo. At the same time... How dumb is that? As the commenter above points out, $5-10B would be a drop in a bucket.

In the note it was written as “$5 - 10 bil”

You are completely wrong, the photo has "bil" on it.

"Show me the personal incentives, and I'll tell you the outcome."

–Someone way the hell wiser than myself

It's Charlie Munger AFAIK

Makes sense, he was a lifelong hero (not just for his good fiscal advice, but also his advice on Man), so perhaps I was semi-listening... #RIP

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