While the links are very interesting, they don't really answer the question of a mild steel knife.
Tension bar knife? I don't know if anybody here has ever built a chain link fence, but tension bars are about the cheapest softest steel you can find. Yes, they can hold a lot of tension on them, but think about it, they only need to bridge 4 inches max and quite often much less than that, and they're 5/8"x1/4" or 3/4"x3/8" before galvanizing. Compare their dimensions and strength to something like high tensile wire, or cable or chain and you start to see just how terrible the steel is. Super soft, super cheap.
Maybe a good analogy would be bolts. Look at grade 2 vs grade 8 bolts. I'm guessing that the materials used are not the same.