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12/03/2012

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Mike Roberts

I'm in awe of you, Dave. I understood very little of those quotes about the bond and T-bill dealings of the Fed, Treasury and markets. But it certainly is hilarious to talk about purchasing debt, as though debt itself is some kind of useful product. "Here, have an IOU for 45 billion." "Hey, thanks; how much will that cost me?" "Well, at least 45 billion, but I may default on it before the 30 year deadline". "No problem, give me all you got, I'm sure I can find a use for it".

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