Hi Harshil, insightful question! I was perhaps a little too loose with my language. I did not mean to imply that government bond issuance is linked causally to inflation. (In fact, it is precisely the opposite.) What I meant is that such government bond issuance is correlated to inflation insofar as large amounts of defaulting student loans (and existing massive government debt) would mean the government would need to pay for these bad debts via inflation over time. Sorry for any confusion!!!