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The problem with Bernanke's tactic is that he is providing more money to creditors with the expectation that they will lend again. The problem is that it doesn't address the historic private debt levels that these same creditors took part in-- which in reality towers over public debt. Banks are thus reluctant to lend to small businesses and those with lower net worth-- so we see a rise in foreign lending and a rush into commodities like gold, silver, and oil.

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