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Originally Posted by ThePythonicCow Though I have previously agreed with your comments that Treasury debt is ultimately supported by U.S. tax collections, today I am wearing the hat of the heretic and am disagreeing with that position. with this Kelton article you can't be serious, the lady claims government has no theoretical constrains? The "state theory" of money, except most of the nominal paper is produced in the private banking/corporate system (cdo's, corp/junk bonds, equities, etc etc), so if the govern ...