I think the idea is, you buy a bond for $98 to get $100 back on maturity in a year (as an example). So $2 cash does get injected/"printed" when debt levels sta

I think the idea is, you buy a bond for $98 to get $100 back on maturity in a year (as an example). So $2 cash does get injected/"printed" when debt levels stay the same or go down. We just issue more debt though in practice.