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Mucus, as far as I know, Americans actually have to put the funds in someone else's bank. I've never heard of Wachovia insuring Bank of America accounts, for example. But again, that's just a little more paperwork and a little less interest at stake.
Nighthawk, I'm not sure I get the effect you think that would have. The credit card companies have a large infusion of cash but no guarantees on future payments. Americans no longer owe money, but they don't have anything material-wise that they didn't have yesterday. Now what?
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