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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: orkrious who wrote (73211)	10/30/2006 2:35:41 PM
From: UncleBigs	Respond to of 110194

most people focus on the inflationary aspects of the Fed. Here is a statement on page 187 of his book that is quite pertinent: It is difficult for Americans to come to grips with the fact that their total money supply is backed by nothing but debt, and it is even more mind boggling to visualize that, if everyone paid back all that was borrowed, there would be no money left existence. That right, there would be not one penny in circulation - all coins and all paper currency would be returned to bank vaults - and there would be not one dollar in any one's (sic) checking account. In short, all money would disappear. With debt to phony gdp at an all time, that concept might give the perpetual inflationists something to think about.