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James Grant: Everything is Mispriced

Cyprus A Warning Shot Across The Globe

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Subsidized rates let zombies live on

Recovery?

No.

Just low rates to help keep zombie banks and companies alive.

Highlights:

"This is the greatest and most perilous experiment with paper money in the history of the world."

"The Fed is in the business of manipulating prices, but the market will get the last word."

"The new idea is your money is not your money if the government decides they need it."

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