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Wednesday, March 14, 2012
I Will Gladly Pay You 100 Years From Now, For a Hamburger Today
The 100 year government bond? Who but a fiat central bank would even buy such an investment creature which really translates to "Never Having to Pay your Debts". Not that any government ever had any intention of ever paying its debts...
UK Chancellor George Osborne proposes 100-year bonds. Essentially his message is "I Will Gladly Pay You 100 Years From Now, For a Hamburger Today".
Read the rest here
MISH's Global Economic Trend Analysis