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by stephen_g
1357 days ago
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Monetarily sovereign countries like the US, UK, Australia, Japan etc. (but not Euro using countries because they can’t control their own currency) don’t really have to. They can just keep rolling things over for as long as they want. If private markets don’t want to buy bonds (they will tend to though because it’s basically risk free), the central bank can. It’s not the money that’s the issue - that’s an abstract, invented thing. The limits are inflation, natural resources and available labour. |
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