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It's not just about defaulting on debt, more about using it to stimulate the economy.
https://www.brookings.edu/blog/up-front/2020/06/05/what-is-yield-curve-control/This article is quite interesting in explaining how it actually reduced all the bonds they had to buy after implementation (until the current mass sell off)
There's a lot of game theory involved and now the tides are turned, this article is barely two years old and quite amusing everything is different now.
It's not just about defaulting on debt, more about using it to stimulate the economy.
https://www.brookings.edu/blog/up-front/2020/06/05/what-is-yield-curve-control/
This article is quite interesting in explaining how it actually reduced all the bonds they had to buy after implementation (until the current mass sell off)
There's a lot of game theory involved and now the tides are turned, this article is barely two years old and quite amusing everything is different now.