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“It would exist alongside cash…” For how long, I wonder?
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Quote:
Between 2008 and 2014, the Federal Reserve printed more than $3.5 trillion in new bills. … Three centuries’ worth of growth in the money supply was crammed into a few short years. … Hoenig was the one Fed leader who voted consistently against this course of action, starting in 2010.
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Looks like Hoenig was the little boy with his finger in the dike, trying to stop the flood.
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Brilliant analogy, Liz!
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