And what risks arise when a significant portion of government debt is held by private entities? How does monetary sovereignty (or lack thereof, as in Greece and Ireland during their debt crises) affect a government's vulnerability to market pressures from private bondholders?

Did I get it right, that because governments today use debt issuing to finance spending and taxing to remove excess money from circulation, tax revenue is basically a transfer from tax payers to bondholders (who are likely already wealthier)?

thanks for the great chat, would love to hear @garyseconomics.bsky.social's take on it :)