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Politics : Stockman Scott's Political Debate Porch
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To: Jim Willie CB who wrote (9833)11/27/2002 12:55:37 PM
From: eddieww  Read Replies (2) of 89467
 
Thanks for the more precise percentages. I was trying to be conservative since I didn't have the figures in front of me.

Those numbers, along with Bernanke's comments about the FED being able to print as many $$ as they want, at no cost (!), reminded me of a half-joking idea I discussed with Heinz Blasnik and a few others a couple of years ago. I suggested that, since the US economy seemed destined for great pain anyway, why not solve the current account, foreign ownership, and balance of payments problems by rapidly debasing the dollar by 50%. Pay all the debts back with valueless paper. -g-
Heinz and others, in some horror, replied that it would bring the entire world fiat monetary and economic system down. I said, "So what?" -vbg-
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