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32. PJ Pierre

Mutiny Investing Podcast

CHAPTER

You Know, You Don't Have Money, but You Have Grass, Right?

In ancient Egypt, grain was paid in kind to the pharaoh. Today's economy is so much bigger than just the government that it makes no sense for them to be wealthy in their own liabilities. The federal government could have a budget surplus but would eventually run out of savings and can't meet its tax obligations. "Just doesn't make sense," he says.

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