An interesting prospect until you need liquidity.
If you enjoy the content at iBankCoin, please follow us on Twitter
© Copyright 2007-2024 iBankCoin All rights reserved under penalty of bodily harm. DISCLAIMER: This is a personal web site, reflecting the opinions of its author(s). It is not a production of my employer, and it is unaffiliated with any FINRA broker/dealer. Statements on this site do not represent the views or policies of anyone other than myself. The information on this site is provided for discussion purposes only, and are not investing recommendations. Under no circumstances does this information represent a recommendation to buy or sell securities. DATA INFORMATION IS PROVIDED TO THE USERS "AS IS." NEITHER iBankCoin, NOR ITS AFFILIATES, NOR ANY THIRD PARTY DATA PROVIDER MAKE ANY EXPRESS OR IMPLIED WARRANTIES OF ANY KIND REGARDING THE DATA INFORMATION, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. Privacy Policy
This doesn’t make any sense.
The guy claims that, “Life will go on if the banks are wiped out and closed, pension funds and insurance companies take losses, etc.”
But he also says, “Who should not suck a loss are those who did not stand to gain: the taxpayers and holders of the currency.”
Can’t have it both ways. If you default on 3 trillion dollars a large amount of banks, if not a majority, will go under. How does leaving the majority of your citizens life savings in limbo not hurt the average taxpayer?
You beat me to it.
(laughter) nice guitar, bro.
“You can just write off the $3 trillion, why not?”
I wonder if he realizes how much of that money is owed to his pension, or 401k, or banking funds?
Supposing this guy is European, he would be the first one to bitch when his entitlements got cut because no one in the bond market is interested in just giving away money.
that was the second and last time i slap any of his stuff up…..