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  • So if we ever did stop selling foreigners our T-bills and other assets (the Swiss did something similar in 1972), the problem would be solved pronto.Unfortunately, the U.S. has grown so addicted to this cheap international credit that we can not forswear it right now, or we would starve our economy for capital to lend and borrow, and interest rates would go sky-high, quite likely knocking us into recess
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