So we have--U.S. Government issues bills and that's less than or equal to one year and they pay no interest.

美国政府发行的短期国库券,期限通常小于或等于一年,且不付息

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Then they started minting new coins out of gold and the government was issuing coins they called them guineas.

之后，他们开始用金子铸币,并且政府也开始发行硬币,他们叫它几尼。

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The U.S. Government also issues small denomination debt to individuals to help them called savings bonds, but we aren't talking about those.

美国政府也发行小面值债券,用于面向个人,叫做长期储蓄债券,我们今天不涉及这些

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It is showing since the U.S. Government issues these bonds, it's showing its data on these bonds.

这里显示了,因为这些债券是美国政府发行的,所以这里显示了这些债券发行的数据

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It did not have a government monopoly on note issue but over the time it became the prime issuer of U.K. notes.

在纸币发行上，它并没有政府垄断者的角色,但是随着时间的流逝,它成为了英国纸币的主要发行者。

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The U.S. Government is a big issuer of discount bonds and they're called Treasury bills.

美国政府是贴现债券的大发行商,这些被称为国库券

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Now, the problem is that if you invest in bonds from some state or local government, they might not pay you back; they can just go bankrupt.

现在的问题是如果你投资了,州或者地方政府发行的债券,他们可能无法支付,他们可能会破产

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We refer to the bonds that they issue as municipal bonds.

地方政府发行的债券称为市政债券

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They deal with, principally, state and local governments who are issuing bonds to raise money for their activities, like New Haven, for example, or any other state or local government.

他们主要与,州和当地政府打交道,这些政府机构通过发行债券筹资,例如纽黑文市,或者其他的州,或者其他的当地政府

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We call an instrument of the U.S. Treasury with a maturity less than or equal to one year--we call that a bill and they used to be the only discount bonds issued by the U.S. Government.

我们把期限小于或等于一年的,国库券品种称为短期国库券,它们曾是美国政府,唯一发行的贴现债券

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