I am not arguing they dont work, quite the contrary, what i am focused on here is how they work.

And that is always through changing the behavior of market participants. There is no other angle or lever to pull, that is all the economy is, peoples behavior. The distinction between tricking people with a fake currency and real policies like a balanced budget is meaningless in this context because they work the exact same way. Both give reasons for a reduction in Inflation expectation. You can argue that its justified (or real) in one case and not in the other but i dont see the point.