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发帖数: 370 | 1 RICHARD KELLEYRICHARD KELLEY 3 hours ago
@JASON FRANK @RICHARD KELLEY Once you coerce Congress to raise the debt
limit you need an ‘expediter’ to convert the debt to cash so it can be
squandered.It is tricky. You have to add to $17T debt, AND keep interest
rates down so debt servicing costs don’t show the real, pathetic value of
the dollar
Beautiful. Loopy issues the bonds, Yellen buys them at insanely low rates,
and the band plays on - except - some ugly day - the folks from whom we
borrow $40B/month in trade imbalance wake up - and de-value the dollar - - -
and the oil filter for your Mercedes costs $500 - and the whole ‘
wealthiest country in the world’ fantasy hits the end of the track.
So I won’t take shakedown, greed or incompetence. I’ll take good old-
fashioned corruption - collusion between executive, and a supposedly
independent monetary watch-dog - - ugly, raw political-motivated corruption
- where no gain is too small, and no damage too great, as long as the
political machine can keep its’ game in play. |
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