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[dougie]

"You can look in the balance-of-payments statistics and you can find liabilities of bank branches in Panama or the British West Indies or whoever, owed to the U.S. head office. You can look and see how much American stock, how many American bonds, how many American bank deposits all come from these islands. The magnitude is so enormous that this is what has been supporting the dollar."

http://www.counterpu...finance-system/