Revenue sharing, for example. They got that. Low body count, major credit. Fouled the default a bit.
And this is the first time in a long time we did a formal credit based central bank. Got a big bubble, but a lot of that was the abrupt default. We were on gold, governments default easier when on gold but screw up the metals and commodities markets. So I am splitting that blame.
Still, a third of that debt must default, sorry about breaking the delusions. This is a central feature of the Antificant economic recovery plan. The New Fed has the time and opportunity to discharge that cost.
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