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Wednesday, July 15, 2009

Inflation is on its way!

I think the FED can and will inflate. It can and will force commercial banks to lend, if only to the U.S. Treasury. Anyone who says there are no solvent borrowers for banks to lend to is out of touch with reality: a $11.5 trillion Federal debt, which is growing by a trillion dollars a year. The Treasury must roll over $250 billion each month. No borrower?
-- from "Why Gold's Price Rose in the Great Depression" by Gary North

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