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|User Info||PIMpCO Is Still Talking Their Book; entered at 2012-06-11 21:04:14|
Registered: 2009-02-28 DFW, Tx
Bert, if the Fed bought the debt, the dollar wouldn't be worth the ink to print one. Says law would go out the door, as there would be no exchange at all. The Fed is getting away with this because there is more debt than money and the bank balance sheets look like crap. Ditto Japan. The death of the Japanese bond will be as sudden as Hiroshima. No one will see it coming. All paper money, including the gold standard paper money, was anchored in debt and nothing else.