So they agreed to auction off it's a little bit different than a it's a little different from an ordinary monetary policy.

所以，他们同意将财产拍卖掉,这有一点儿不同于，有一点儿与,普通的货币政策不同。

耶鲁公开课 - 金融市场课程节选

The bonds are auctioned off on regular dates and you cannot participate in the auction; I assume you can't.

这些债券在规定期限内拍卖,你们不能参与这些拍卖,我想你们是不行的

耶鲁公开课 - 金融市场课程节选

It's different from Fed policy in that they set up a certain amount of money and auction that off to the highest bidder.

这与美联储政策不同,因为他们设定了一定数量的连出价最高的投标者,都无法触及的货币拍卖。

耶鲁公开课 - 金融市场课程节选

What you normally do is you go to a dealer and a dealer is someone, a professional, who participated in the auction and bought these up to accumulate an inventory to then sell off to you, the customer.

你通常会去找一些中间商,中间商是专业从业者,他们参与拍卖,积蓄库存,再转销给一般顾客

耶鲁公开课 - 金融市场课程节选