Correct me if I'm wrong here; but Croesus wasn't working with a fiat currency -- quite the reverse.
I suspect you've been entirely correct about IKB (and by extension, other Landesbanken) for the last two or three years. I believe that it's partly how they're set up, and partly where their aims (and we've all played Die Macher) coincide with politics, and what is now a century-old collective fear of hyper-inflation. Get over it! We'll even give you the shopping trolleys to carry cash around for free!
I don't even care about the Greenspan deviancy (infinite liquidity? Who cares!) any more -- it's too late for that. I'd like to hear a reasonable argument for what to do next.
You can punish a boastful idiot for cross-punting (and I agree: nothing wrong with this. At base, it's just insurance) $1 billion. But so what? It's small change. It's not relevant.
Actually, I'd just like to get back to decent government. Fat chance.
no subject
I suspect you've been entirely correct about IKB (and by extension, other Landesbanken) for the last two or three years. I believe that it's partly how they're set up, and partly where their aims (and we've all played Die Macher) coincide with politics, and what is now a century-old collective fear of hyper-inflation. Get over it! We'll even give you the shopping trolleys to carry cash around for free!
I don't even care about the Greenspan deviancy (infinite liquidity? Who cares!) any more -- it's too late for that. I'd like to hear a reasonable argument for what to do next.
You can punish a boastful idiot for cross-punting (and I agree: nothing wrong with this. At base, it's just insurance) $1 billion. But so what? It's small change. It's not relevant.
Actually, I'd just like to get back to decent government. Fat chance.