I was confused learning that France’s hyperinflationary paper money actually wasn’t cash but rather were short term IOUs. Today I see everyone agreeing that short term government bonds are much safer than cash at the bank, and I’m starting to understand… 🤔🫢
Discussion
because of the sovereign counterparty.
was frances's iou sovereign debt or private debt?
Sovereign
I was just thinking about what is the safest extension of the bank account over the insured balance in the trad fin system. And short term gov bonds were the first thing that came to my mind. The second thing was... what could go wrong? 😂