More specifically, reliable records of interest rates start about 3,000 years ago. We have *never* in all of this recorded human history seen interest rates as low -- indeed negative! -- as they are today.https://twitter.com/maxkeiser/status/1161000868784877570 …
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I can’t help but think of all prior human societies from beyond the grave laughing at all of us for accepting such a ludicrous idea as negative interest rates.
Or fiat currency, for that matter, which although unlike negative interest rates not completely absent from the historical record, was still rare, and in prior epochs always ended in extreme inflationary failure.
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They haven't pulled SDR'S out of the bag yet. That bigger Fiat than Fiat itself is bound to get settled tomorrow. They will eventually give a contract that states it will be settled tomorrow. There you go sorted, tomorrow!!!
Thanks. Twitter will use this to make your timeline better. UndoUndo
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Is it fiat? We all use the term, but all money today is created as a double entry in a debt ledger, not spent into circulation by seignior. State defines unit of measure (for long doesn't mean anything) & by it, enforces 1:1 conversion between private deposit, reserve & banknote.
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I tend to agree with Keen and Hudson, it is the absence of debt relief valve in the system that gets it stuck.
End of conversation
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