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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 445.60

-10.1%

Jan 30 4:00 PM EST

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To: TobagoJack who wrote (27051)	12/30/2007 11:24:12 PM
From: Maurice Winn	Read Replies (2) of 219929

TJ, bankruptcy and other processes are excellent warnings to people not to use money other than as a transaction medium. Hoping that it will be a 30 year store of value while a dodgy debtor repays a loan at 8% is madness. Legal bankruptcy is official acknowledgment that the money is not even worth the paper it isn't printed on. If savers are not robbed regularly, they will mistake the currency as being worth something. If savers wish to lend to somebody, they had better make sure the collateral covers the debts and that nobody is in line ahead of them or can cut in ahead of them [such as hungry children, tax departments etc]. With bankruptcy disallowed, lenders become more careless, like drivers with cars with ABS brakes on dry roads instead of mechanical brakes in a 1950 car on a snow covered road. They use up the safety factor and will take on greater risks, expecting the community to go to the trouble of enforcing a ridiculous contract which was obviously made with a mentally defective person [such contracts are not enforceable in the same way that contracts with 3 year olds are not allowed]. Mqurice

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