[ExI] Johnson has ANOTHER "Aleppo moment"!

[John Clark]

On Thu, Sep 29, 2016 at 7:27 PM, Dylan Distasio <interzone at gmail.com> wrote:

> ​> ​
> The entire value of fiat currencies is dependent on a belief in the issuer
> to make good on their IOUs.
>
> ​That is precisely true.

> ​> ​
> What is going to happen to interest rates if the world loses faith in a
> particular currency?
>
> ​If people think their IOUs will not be honored Interest rates will trend
toward infinity and the currency will collapse; and if the currency is the
dollar then the world economy will collapse with it. That is why I can
never forgive Republicans from coming within minutes of defaulting on its
debt on October 16 2013.

 John K Clark ​
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.extropy.org/pipermail/extropy-chat/attachments/20160930/ab5abd2b/attachment.html>