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The meltdown of the financial sector in 2008 took the world by surprise. yet credit crises have been part of the human experience since before the birth of Christ. Even in the best of times of the Roman Republic, a span of about two centuries, there were about a half-dozen credit crises. However, with the detachment of money from an asset base like gold or silver, the sharp line of demarcation between money and credit has practically dissolved. With currency created at the click of a mouse--or produced in quantity when a central bank credits its balance sheet in exchange for government debt, m
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