The Devil’s Dictionary of Economics
Search For: (fools)
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| Fool's Gold |
What the dollar is backed by – the assets of the Federal Reserve, composed mostly of AAA-Rated Securities, which are about as marketable as the chocolate-covered cotton balls that Milo Minderbinder was trying to foist on people in Catch 22. “The Fed’s balance sheet is getting corrupted with junk that others won’t buy or lend against,” observes Robert Robb.
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