tag:blogger.com,1999:blog-8897997766931633186.post3874008845739665360..comments2024-02-14T03:21:37.506-05:00Comments on Monetary Freedom: Lender of Last ResortBill Woolseyhttp://www.blogger.com/profile/06330232724290161369noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-8897997766931633186.post-69491320320112717692011-11-19T15:46:09.091-05:002011-11-19T15:46:09.091-05:00Interesting post.
I do think that one of the app...Interesting post. <br /><br />I do think that one of the appeals of a government bond is that you know it will be paid off, even if only by a printing plant. <br /><br />Default, and defined payouts or settlements arrived at in court by expensive lawyers and political posing etc---all that strikes fear into the hearts of investors. <br /><br />When a sovereign defaults, I think it sends a terrible signal that any IOU can default. Why lend to anyone? <br /><br />Better they just print more money and pay off debts. Right now, that would be stimulative anyway.Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.com