Comment

Michele Bachmann (R-Mars) Bails on Donald Trump

198
(I Stand By What I Said Whatever It Was)12/09/2011 3:53:20 am PST

re: #196 freetoken

(and took over itself the printing of paper “money”).

Btw, no idea why the scare quotes. Money is money as long as in the loan given to generate it, the credit operation rules for collateralization are upheld. If collaterlization is foregone, you will indeed end up with “fiat money”. I think this is something crucial that Hudson ignores.

Hudson, btw, pointed out in 2006 that the housing market was in serious trouble.