Quote:
Originally Posted by Caymus
Look on the bright side. If the government defaults on their bonds, you could place a lien on assets. If you "lose" enough, you could own something like the Whitehouse or Grand Canyon  |
Actually, we all supposedly already own both of those things, but you've perfectly captured the absurdity of the situation:
I have a brokerage account where the bulk of my life savings is in the form of imaginary money, backed by nothing more than the belief that somebody will accept it someday, which is loaned to my bankrupt government that printed it for a return less than the rate that the same government is printing new imaginary money, and yet that loan is rated to be the safest investment in the wealthiest country in the world -- but slightly less safe than it was yesterday.