[ExI] Johnson has ANOTHER "Aleppo moment"!
johnkclark at gmail.com
Fri Sep 30 16:37:12 UTC 2016
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
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