You Can Intimidate Everyone - Doug Noland

``Bill Gross has been rather open about it:  "We're buying what the Fed and ECB are buying."  And Mr. Gross and others have been buying Spanish and Italian bonds, with a brilliant plan to sell them back to the ECB at higher prices.  There's a very large global contingent keen to place such bets, after similar trades in U.S. Treasuries and MBS have made gazillions.  ''