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“sovereigns always end up defaulting. It has never not happened. It simply happens so rarely that by the time it happens again, everyone who was investing the last time it happened is already dead. It is an easily-studied long cycle phenomenon”
― The Mr. X Interviews: Volume 1: World Views from a Fictional US Sovereign Creditor
― The Mr. X Interviews: Volume 1: World Views from a Fictional US Sovereign Creditor
