The illusion of default

posted by
July 28, 2011
Nolan Chart
by Gene DeNardo  
Posted in Commentary

"As the date of August 2nd approaches, supposedly the date that the US government will exceed its debt limit if legislation to increase that limit is not enacted, the idea of default appears to be morphing from possibility to probability. What is most interesting about the default issue is that it is entirely illusionary. A real debt limit within a fiat economy is an imaginary concept!" (07/27/11)  


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