…you do better if you start liquidating them before you absolutely have to.
Which is why I begged America to have a federal yard sale. It’s a combination of foresight and patriotism.
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Meta
World's Only Rational Man 
They’re “liquidating” our currency instead of selling assets. But when bond holders finally decide to sell, there will be a funding crisis … then the pain begins.
“Credibility is an enormous asset,” Volcker said. “Once earned, it must not be frittered away by yielding to the notion that a little inflation right now is a good a thing, a good thing to release animal spirits and to pep up investment.”
“The implicit assumption behind that siren call must be that the inflation rate can be manipulated to reach economic objectives,”… “Up today, maybe a little more tomorrow and then pulled back on command. Good luck in that. All experience demonstrates that inflation, when fairly and deliberately started, is hard to control and reverse.”
Until they finally run out of others money and cannot borrow any more to push the can further down the road nothing will be done by the jabbering monkeys. Then they will bail out and leave the mess behind for somebody else to clean up.