An interesting prospect until you need liquidity.
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An interesting prospect until you need liquidity.
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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…..