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This auction market is a system by which securities are bought and sold at the
best possible price through competitive bidding.
Prices are
established by licensed brokers acting as agents of buyers
and sellers, as well as principal licensed dealers acting for their
own accounts.
... The U.S. Treasury Department sells new issues of
Treasury bills at auction, and anyone may
purchase Treasuries on line at Treasury
Direct where you can learn all about buying, selling, and reinvesting
Treasuries.
The Scam:
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