cavalier973 Wrote:
Jun 05, 2012 4:45 PM
A solution: "The public debt transaction, then, is very different from private debt. Instead of a low-time preference creditor exchanging money for an IOU from a high-time preference debtor, the government now receives money from creditors, both parties realizing that the money will be paid back not out of the pockets or the hides of the politicians and bureaucrats, but out of the looted wallets and purses of the hapless taxpayers, the subjects of the state." http://www.lewrockwell.com/rothbard/rothbard190.html