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February 7, 2012
View from the Land of NO-Money
There is not enough money in the world to pay back America's national debt.Total United States currency (paper and electronic entries in reserve accounts) sums to about $2 trillion. The national debt sums to over $14 trillion. If people ever really suspected that the U.S. monetary printing press was broken, there would be the mother of all bank runs. Bond holders would redeem their U.S. debt instead of rolling it over. Savers would hold tightly to any real currency. --Europe's Wile E. Coyote Moment
Posted by gerardvanderleun at February 7, 2012 9:39 AM. This is an entry on the sideblog of American Digest: Check it out.