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Do not give in to Evil, but proceed ever more boldly against it

Friday, August 21, 2009

Denninger: A $5 Trillion Annual Borrowing Rate

Denninger comments on the recent Treasury bill auctions:

This is the price of supporting the grift and fraud in our banking system.

I count $207 billion, coming two weeks after a $250 billion dollar week.

Let's annualize - that would be about $5 trillion a year in annualized issuance. My-oh-my how long can this continue?

Read the rest.


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