Sunday, January 28, 2018
I just had a dream about the next financial crisis. In the crisis, there was a bank holiday in which all banks were closed for 3 months. When they were opened, everybody's bank deposits had been confiscated and converted to special confidence bonds. These bonds were like treasury notes with a yield of 2 percent. They were 10-year notes and at the end of the 10 years they matured and you got your money converted to dollars. The joke was they were not called confidence bonds but confiscation bonds. There was also a provision where you could convert your bonds to certain stocks in the stock market that had a better yield from their dividend but if the stocks lost value you did too. So the so-called safe investment was the confidence bonds.