The anchor bend is actually a hitch. It is used for attaching a rope to a ring or pole. The anchor bend can jam but only after really heavy loads have been applied. Usually it is easily untied after moderate loads. If you make an extra turn it is less likely to jam. As the name implies it is a knot that is often used to attach an anchor to a rope but it can be used for many other purposes.
Pictoral How To Tie An Anchor Bend