Where are the Bond Vigilantes?

They're obsolete. Governments can now print unlimited amounts of paper to cover debt they cannot, or have no intention of paying.

Helicopter Ben's Banana Note
- print as much as required

As soon as the yields rise, like magic...poof! the government's central bank injects 'magic money' -- by buying up the bonds and paying for it in banana notes, and yields fall. If you were selling short, you'd suffer an anal rape, and the government 'wins' at your expense. "Thanks suckers, for making the market!"


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