Bubbles and the Titanic Betrayal of Public Trust – Redux
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I was listening to an economist on the BBC today and he said everything is fine for the U.S and Great Britain because they can purchase bad debt through the FED and then just write it off and it is gone…viola! I had a friend who is a physicist tell me the same thing…I did not know it was so easy! But seriously what happens to the debt that they purchase it has to go somewhere…it can’t just disappear …
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