Why not both?
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The FED just prints fiat currency to cover demand created by Americans with loose credit.
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Similar to building freeways for the cars that will inevitably fill them up?
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.Without freedom of speech we wouldn't know who all the idiots are. -- anonymous poster
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.Because much of what is in the published literature is nonsense,
and much of what isn’t nonsense is not in the scientific literature.
-- Sabine Hossenfelder
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