Read on Twitter
"Should the eurodollar system malfunction, as it has intermittently since August 2007, the flow of 
“dollars”
stops"
Exactly. Not-dollars.
https://twitter.com/JeffSnider_AIP/status/1273397795773394948
“dollars” stops"Exactly. Not-dollars.
https://twitter.com/JeffSnider_AIP/status/1273397795773394948
"To survive, one must have dollars. It’s that simple."
Not "dollars", not Tbonds, not stocks.
Derivatives don't cut it in "the crunch".
dollars. It’s that simple."Not "dollars", not Tbonds, not stocks.
Derivatives don't cut it in "the crunch".
"Liquidity preferences. Logical and perfectly rational responses to what QE and bank reserves actually are. Not money."
https://twitter.com/darenpa72/status/1267847886429204480
what QE and bank reserves actually are. Not money." https://twitter.com/darenpa72/status/1267847886429204480
It's painful to watch, isn't it? https://twitter.com/darenpa72/status/1265692876391845888
I read a long time ago a story of a stranger who enters a bar out west, he leaves a $100 bill on the bar while he goes upstairs with a girl, and while he's away everyone passes that $100 bill from one to the next, clearing their debts to each other.
Anyone happen to have a link?
Anyone happen to have a link?
It doesn't really matter if you don't; it was a rhetorical question (but I would enjoy it if you did happen to find it).
The point was the stranger was from the government, and the $100 bill was the actual money that everyone owed to each other in private debts.
The point was the stranger was from the government, and the $100 bill was the actual money that everyone owed to each other in private debts.
Jeff, among many many others, asserts that the private debts are the real money, and the $100 bill is a pointless irrelevance.
But the town economy was saturated with unpayable debts.
Until the government dude showed up with this real, live, $100 bill for an hour or two.
But the town economy was saturated with unpayable debts.
Until the government dude showed up with this real, live, $100 bill for an hour or two.
