Not going to click through to read as I know the outcome, if the bond auction fails first time around the rate will then be increased to make it irresitably attractive second time round, then the press will chirp; "bond auction over subscibred as investors rush to buy govt debt at < insert rate here....>.."
TBH it's beyond a fooking joke now isn't it? TARP, QE, nationalisation of the banks...they're lending less, just sitting on the digits in order to preserve their status, so they'll be able (at some time in the distant future) to re-engage in another giant game of chicken - dressed up as mysterious 'trading' by clever people. Twas all about protecting the system, the system of debt enslavement.
When the Treasury borrows (issues debt) it's the opposite of printing money. It's drawing money out of the system, not putting it in. The money goes in when the gov't spends. Debt issuance is counter-inflationary, though obviuosly it has other drawbacks.
