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We may become a great commercial and flourishing nation. But, if in the pursuit of the means we should unfortunately stumble again on unfunded paper money or any similar species of fraud, we shall assuredly give a fatal stab to our national credit in its infancy.
— George Washington via Hayman Capital March 2009 Letter to its limited partners (which by the way is a must-read)
Tags: economics   inflation   fiat currency  
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