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Politics : American Presidential Politics and foreign affairs
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To: TimF who wrote (44932)8/18/2010 3:52:51 PM
From: DuckTapeSunroof  Read Replies (1) of 71588
 
Re: " Its a government IOU to itself. Its essentially meaningless."

It is a special class of US Treasury Bond.

If it is "meaningless" then ALL US Treasury Bonds are "meaningless".

(And, just a little personal observation here, I believe that if the day ever comes when the US stops payment on it's debts - we will be *far more likely* to repudiate foreign-owned debts before we will repudiate debts we own to our self! At least, that has been the practice of other countries, to favor their OWN and stiff the foreigners first. <GGG>)
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