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by kangnkodos
1714 days ago
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By that definition US Treasury bonds will be a ponzi. Currently, the US Treasury pays old bond holders by a combination of tax revenue and by issuing new bonds. However, each year, a bigger fraction of old bonds are paid by issuing new bonds. Over time, this will lead to almost 100% of old bonds being paid by issuing new bonds, and then they will be a true ponzi. |
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