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A most outrageous aspect of the debt burden that is placed on the taxpayers' shoulders since 2008 is that most of the underlying debt claims are fictitious and illegitimate: they are largely due to manipulated asset price bubbles, dubious or illegal financial speculations, and scandalous conversion of financial gamblers' losses into public liability.
And we added up our liabilities and there were a lot of liabilities".
"There are all kinds of liabilities.
It is just an adjustment of liabilities.
Leaving the criminal law on one side, what is the difference between the liability under the mill acts or statutes authorizing a taking by eminent domain and the liability for what we call a wrongful conversion of property where restoration is out of the question.
In both cases, runs on the banking system ended up with a partial freezing of bank deposits, which in the case of Argentina, triggered a full-fledged banking crisis and a subsequent conversion of deposits denominated in a foreign currency into domestic currency that led to a restructuring of domestic liabilities -- at a high cost for small domestic savers.
The conversion of the Bulgars.
Conversion of a black woman.
*Electronic conversion of back-files.
Conversion of older office buildings to hotels.
"To me, conversion of the heart is more important than conversion of religion".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com