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by Turing_Machine
1943 days ago
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A Treasury bond is just some bits sitting on a hard drive that promises to pay you so many "dollars", which is a purely imaginary unit whose value can be manipulated at the whim of the government. It's every bit as imaginary as Bitcoin. Arguably even more so, since Bitcoin can't be inflated at will and without limit. They don't have to formally default if they inflate the dollar enough that a current dollar is worth only 10% (or whatever) of what one was worth at the time the bond was issued. And it's starting to look like that's exactly the strategy that's in play. |
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