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Like a gun safe hanging from a rope ten stories high

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01/28/2004

Eric Englund has some thoughts on Potential Inflation. "As has happened with all previous fiat currency experiments, government debt is repaid by simply printing the money to pay back the government's debt obligations (i.e., bonds). Of course, as more money is printed, its value falls just like the gun safe plunging from ten stories above the ground."

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