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E-books for lending are designed so that they vanish from e-book readers (like the Kindle) after a fixed period, but it is possible for hackers to break the coding and thereby hold on to an e-book indefinitely.
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Those who game the system will just download from dodgy sites anyway. This just ensures that authors will not receive the royalties they deserve when people use such sites. It's a silly move really.
They'll never find a way to allow you to read a book without there also been a way to strip the drm if you so wish. It's just not possible to give you the key to read the content without giving you the key to read the content.