I found it interesting in
@Marty Bent last chat with Mel that he thinks the CIA operates shell companies in the Caymans that set a floor on treasury prices by creating dollars out of thin air to effectively monetize as much debt as the USG needs.
If that’s true and ever becomes exposed then the entire system needs to be completely dismantled. Why would any saver or sovereign ever participate in a market with that degree of clandestine manipulation. It almost feels like the tail risk of doing that would be so great — the entire UST market would become insolvent — that they would think twice before resorting to such measures.
Right?