long end of the curve?, page-14

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    nata, mango is playing with you. He didn't say there wouldn't be consequences, just that they couldn't go bankrupt. So long as they are only ever obligated to pay debts in US Federal Reserve Notes then they cannot become bankrupt, as they can print to infinity and beyond.

    But the consequences will be horrendous.The trouble is, not just for the Wanks, but for the rest of us in the overspill.
 
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