Opposing Monetary Directions
“Real estate is the future of the monetary system,” declares a real estate bug.
Does this make any sense? We would ask him this.
“OK how will houses be borrowed and lent?”
“Look at this housing bond,” he says, pointing to a bond denominated in dollars, with principal and interest paid in dollars.
“What do you mean ‘housing’ bond’,” we ask, “it’s a bond denominated in dollars!”
“Yes, but housing is the collateral.”
OK, so it’s not a housing bond. It’s a dollar bond used to finance the purchase of houses. These are not the same thing at all, the way chalk and cheese are not the same thing, despite both being single-syllable words beginning with the letters “ch”.
El Salvador’s Bitcoin Gamble
A few weeks back, we