George Hall on the History of the U.S. National Debt and Government Financing
Macro Musings with David Beckworth
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Hamilton's Blessing
Hamilton created three securities, one of which is going to pay 6%, the other two paying 3%. One bond doesn't pay anything until 10 years from now. These things trade at $0.85 on the dollar relative to their face value. It's effectively issuing a bond with a coupon rate of 3% or 4% depending on the deal that you got.
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