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November 2, 2008

The Financial Mess

ll of the perplexities, confusion, and distress in America arises, not from the defects of the Constitution or Confederation, not from want of honor or virtue, so much as from downright ignorance of the nature of coin, credit, and circulation.
John Adams in a letter to Thomas Jefferson, August 25, 1787

For a refresher, reread Evil Dictionaries and Money.

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