Is the Liar paradox, stated as "this sentence is false" false?

Is the Liar paradox, stated as "this sentence is false" false?

Is the Liar paradox, stated as "this sentence is false" false? The Liar surely means, "The proposition expressed by this sentence is false", but this implies that there is one and only one proposition contained within the sentence. If this is not the case then the whole statement is false because "The proposition" must pick out exactly one object. The direct proposition expressed is "This sentence is false", yet surely since the predicate "is false" applies to the sentence in question, "This sentence is false" is false is a proposition that is also logically entwined with the sentence. Since the sentence expresses two propositions, and not one, there is no object which corresponds to "The proposition expressed" and so the whole sentence becomes false.

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