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Source link: http://archive.mises.org/10593/the-governments-cooked-books/

The Government’s Cooked Books

September 4, 2009 by

A distinguishing feature of a credit instrument is that it cannot be owned by the debtor it would otherwise bind. It cannot properly be placed on my balance sheet as an asset or a liability. Yet the United States handles its accounts in just this way. FULL ARTICLE by Jacob Shreffler

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