> Our Finance Minister, for example, proposes to borrow money not by issuing new government bonds at present (higher) interest rates, but by re-issuing old bonds which bear the lower fixed interest rates from prior years. Because these bonds are a bad deal, investors will only buy them for less than their nominal value. The German government will therefore commit to repaying the holders of these bonds more than they borrowed, providing investors effectively the same interest rate as they would’ve gotten had they bought new bonds. The trick is that this repayment will not happen until the Scholz clown car are out of office, so it’s not their problem.