Debt is Collateral?
In our current economic ocean of insanity, one of the worst aberrations of sound financial policy is the creation of a new kind of collateral—DEBT ! It seems that in order to borrow billions and billions more of “money”, it was necessary to first take all of the real collateral in the world and turn it all into paper (securities, etc). Then, use the paper as “collateral” to borrow more “money”. Then, take this pile of …