From: http://bilbo.economicoutlook.net/blog/?p=34830 http://bilbo.economicoutlook.net/blog/?p=34830 "[..] the central bank (that is, the government) can always

From: http://bilbo.economicoutlook.net/blog/?p=34830 http://bilbo.economicoutlook.net/blog/?p=34830 "[..] the central bank (that is, the government) can always set bond yields at whatever level it chooses including zero." A different question is if institutional arrangements will allow it. But even when they not, if the crisis is big enough they will. See the example of the debt crisis in the Eurozone. It finished the day that governor of the European Central Bank decided to do "whatever it takes" (1), even if the operations that they are doing are technically illegal in the framework of the Eurozone. (1). https://qz.com/1038954/whatever-it-takes-five-years-ago-today-mario-draghi-saved-the-euro-with-a-momentous-speech/ https://qz.com/1038954/whatever-it-takes-five-years-ago-toda...