At the end of the day all debt is an IOU.
money created from nothing.
By valuing these intruments at zero will not cause the markets to collapse to the ground.
The Key here is the policy of saving face(dropping rate).
This will have severe effects on the $US.
The plunge protection team can come to the rescue of the markets as they have done before.
Curent events plays into the hands of the dollars demise.
djia down 700 overnight, page-106
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