And if America can’t find anyone willing to finance its deficits, what then? Well, the luxury of issuing debts in the currency you also print is that you can print money to pay for them. Technically, you can never become insolvent when you enjoy this privilege. The Fed, for example, can create new money to buy debt issued by the Treasury, funding deficits ad infinitum.
November 3rd, 2009 | Dan Denning | 5 comments | Continued
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| All Ordinaries | 4322.400 | ||
| S&p/asx 200 | 4246.100 | ||
| China Shanghai Co | 2346.639 | ||
| Gold Sep 11 | 0.00 | ||
| Clj11.nym | 0.00 | ||
| Nikkei 225 | 8985.79 | ||
| Indu | 0.00 | ||
| S&P 500 | 1351.77 | ||
| Ftse 100 | 5905.70 |
