Which Is More Important? Content or Links?

Would you rather have content, useful to readers and able to fetch links from top sites automatically, or links, which you pay for, from any big or small websites matching your topic?

Here is what Google engineer Matt Cutts himself says about this. Crappy content and great links? It readily rings a bell in the search engine. Good content and good links is your best bet to rise high on SERPs.

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