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James Rickards

“broad-based tax cut . . . accommodated by a program of open market purchases . . . would almost certainly be an effective stimulant to consumption.... A money-financed tax cut is essentially equivalent to Milton Friedman’s famous “helicopter drop” of money.... Of course . . . the government could . . . even acquire existing real or financial assets. If . . . the Fed then purchased an equal amount of Treasury debt with newly created money, the whole operation would be the economic equivalent of direct open market operations in private assets.”

James Rickards, Currency Wars: The Making of the Next Global Crisis
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Currency Wars: The Making of the Next Global Crisis Currency Wars: The Making of the Next Global Crisis by James Rickards
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