The Interest Rate Shock Will Blow Up the Government’s Ponzi Game
"Moreover, it should also be borne in mind that the powerful “fiat money system”—the collusion of states, banks, major institutional investors, and large companies—will not be so easy to upset. Should the rise in interest rates become too strong from a political point of view, yet another deep dive into the bag of tricks can be expected. Central banks, for example, will start buying government bonds again, thereby fixing long-term and short-term interest rates at “reasonable” levels. Of course, all of these monetary policy tricks basically amount to one thing: paying off the outstanding bills with newly created money—or in other words, inflation policy.
That is the big lesson that can be drawn from the interest rate shock resulting from the Ponzi scheme in the debt markets: the systematic decline in the purchasing power of money, even if short-term relief is granted, is almost certain."
https://mises.org/wire/interest-rate-shock-will-blow-governments-ponzi-game