The top comment on that thread gets a few things wrong as I understand it. >"If the bonds disappeared, so would the money, because there'd be nothing backing i

The top comment on that thread gets a few things wrong as I understand it. >"If the bonds disappeared, so would the money, because there'd be nothing backing it." Not true, because each original dollar spawns more additional dollars through fractional reserve banking. So the original bond can be repaid with tax revenue without taking all the currency out of existence. Maybe if there was no fractional reserve banking then this would be true. Secondly, buying government bonds are not the only way that the central bank can create money.