cnbc anchor freaked out by fabers comments , page-13

So if I understand this correctly everyone that owns bonds freaks out and buys insurance from me,I continue to sell insurance untill the government is about to collapse.Then when it's at the tiping point and bond yeilds are high I take all the insurance money I've collected and "bailout" the government by buying new bonds, now I'm free carried on the bonds and any money I do collect on coupon payments is pure profit and if the government does decide to get it's act together I may even take a profit down the track on the bond.

No money printed just capital/dept transactions.

Now I know I'm wrong but my mopey mind can't see where.