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To: BWAC who wrote (107154)2/28/2008 12:24:37 PM
From: neolibRespond to of 306849
 
Problem is that you can't take your note up to the discount window and get fresh cash to leverage.

But you easily can construct a single collective system (or even a group of competing systems) where that functionality does exist, and all without a Government issuing debt or having any say in the matter.