What do translators and central bankers have in common? An extreme fixation on choosing the right words. Monetary policy is a field where words really matter. Sure, qualitative and quantitative easing (QQE) and interest on excess reserves sound like dry subjects, but imagine you could somehow bend your mind to take pleasure in reading about them...We will apply a fine tooth comb to a few choice paragraphs (in Japanese) drawn from the real world of Japan’s fixed income analysts and market strategists opining about the ramifications of this or that central bank policy or central banker comment. Audience participation welcome.