Risk free return = return free risk

Lender of last resort = counterfeiting operation to backstop a Ponzi scheme

Fractional reserve = fictional reserves

Policy makers = central planners

Elites = parasites

Federal Reserve = the 5th plank in Marx’s Communist Manifesto

Fiat currency = government Chuck E. Cheese arcade tokens, confetti created from thin air

Interest rates = the price of money and most important prices in the entire economy, manipulated by central planners

Inflation = increase in money supply

Depositors = unsecured lenders to a bank

Bank deposits = IOU from a bank

Deposit insurance = false sense of security

Bail-in = using depositors funds to shore up a Ponzi scheme

Bank holiday = surprise restrictions on depositors to prevent them from fleeing

Haircut = theft

Regulations = anti-competitive barriers to entry to protect large incumbents and empower politicians

Official denial funds are at risk = confirmation funds are at imminent risk

Reply to this note

Please Login to reply.

Discussion

Social Security = socialist insecurity

Too big to fail = is proof there is no free market

Bailout = whip the tax donkeys harder to prop up a Ponzi scheme run by connected insiders

Legal tender laws = if you use anything besides government confetti as money we'll put you in prison