In the end, a government’s primary duty is to defend the value of its currency. We have two hundred and sixty billion dollars abroad. The dollar is the unofficial currency of dozens of nations. In the new Russia, for instance, there are more dollars than rubles. In effect, it’s like Washington has raised a massive foreign loan. Raised any other way, that loan would cost us twenty-six billion dollars a year in interest payments alone. But this way, it costs us nothing at all except what we spend on printing pictures of dead politicians on little pieces of paper. That’s what it’s all about, Mr.
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