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Vincent Cate: How Fiat Dies

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Incident time: 
Friday, October 19, 2012
Incident address: 
United States
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"Why not have the Treasury mint some $1 trillion coins? This would be very inflationary. Imagine that they instead produced $1 million coins and used them to pay off bonds. People would see the money supply increasing and understand that at some point the value of the money will be going down. So people would stop rolling over bonds" (original).

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