You have too many treasuries to sell. You can’t find enough buyers. So what to do? How about exchange your treasures (which you know deep down don’t really have any value anyway i.e. they are a ticking time bomb). Exchange them for anything anyone will give you that some value. Such as toxic assets, commercial paper, etc. Expand your balance sheet as fast as possible up to trillions with any non-completely-worthless assets you can find while stuffing the original owners of said assets with as many treasuries as you can print up.

Isn’t that essentially what the Fed is doing? I’m wondering who is really getting the “toxic” asset.