The Fed and the magic circle of eternal wealth
Tue, 02 Dec 2008 11:58:36 -0800
"The 'Siegfried and Roy' of international finance, Paulson and Bernanke have come with a new trick. This is how it's gonna work : The Treasury is gonna print pieces of paper called Treasury bonds and sell them to... the Fed ! In return, the Fed is gonna print pieces of paper called bank notes and use them to pay the bonds." Read the rest!
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