Holding U.S. Treasurys? Beware: Uncle Sam Can't Account for $21T (forbes.com)

The idea is that the monetary base is being abused by the government for spending, which should show up in higher inflation and result in bonds dropping in price, however we have stubbornly low inflation, which if 21T was spent on undisclosed projects I would think is a little surprising none of that pushes inflation higher.