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- Embed this noticeBeen talking with an old school fiscal conservative with pre-neocon beliefs. Republican isn't even the way to describe it. Very wild to hear someone support The Federal Reserve unironically while also believing treasuries could default provided the USA stayed dominant in oil trading currency. Like it isn't even MMT or keynesianism with some of these guys. IDK is it Chicago school or something? I am so out of the loop on that type of economic "study" these days because of is/ought and how things actually work.