Thursday, November 11, 2010

Just another I.O.U.

There's always a discount on an I.O.U. The amount depends on its perceived likely-hood of being paid. The dollar is, in essence, such an I.O.U. The perception of repayment is dropping and you can follow it by watching the value of dollars on the market. --L. Reichard White, Thursday, November 11, 2010 3:22 AM

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