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BUFFET also spoke about how an incease in federal debt can be financed in 3 ways,
borrowing from foreigners, from our own citizens, or by printing more money.
When it came to printing more money, Buffet quoted John Maynard Keynes road map of just this sort where,
"By a continuing process of inflation, governments can cofiscate ,secretly and unobserved, an important part of the wealth of their citizens"....
Buffet went on to say there is nothing wrong with increase in debt that
is PROPOTIONATE to an INCREASE in INCOME or Assets.
As he said," We don't want our country to evolve into a Banana Republic economy described by Keyes."
But what does Buffet know?
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