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Tom Chechatka

One is left to wonder how this parallels the period leading to FDR's inauguration. At the time the systemic breakdown of the banking system was in its death throes. Now, with that lesson standing in time and institutional facilities, though stretched, much differently configured, one wonders whether this rush into Treasuries is but an innocuous, natural response to a bankrupt financial system standing at the precipice or, contrarily, an attack meant to throw it over the edge...

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