truman era clowning involved pins to the nominal rate
of course the pin rate caused huge wave motion in the real rate
point then ??
never admit negative real returns need noticing
only cap gain / cap loss on existing pile of outstanding nominally denumerated obligations
hold the nominal rate steady and you reduce the pro inflation rate flux
in nominal market value of players debt holdings
the fed buys up or sells off
enough of the fluxing supply of debt
to hold the nominal rate steady
that was truman policy
in paine policy
you counter changes in the inflation rate
to retain a stable (negative ) real rate
i'm spoofing here soul mates
