"It’s not a new idea. Historically, perpetual government debt was more common than fixed maturity debt precisely because you didn’t have to roll it over. The Downton Abbey set held perpetuities."
What a brilliant statement! Perhaps it should have been the title.
From my days teaching money & banking: “Asset A is more liquid than asset B if A can be converted into money at a lower cost than can B.” Of course, that’s for two individual assets. Expanding the definition to the market level, we can talk about asset groups (industries, risk rating, etc.)
Now, if only we could get the impediment of vested interest in the existing privileged trading houses in Treasuries out of the way ... Who wouldn't like to be one of them?
The Secretary of the Treasury is not “Bennett.” AI editor?
"It’s not a new idea. Historically, perpetual government debt was more common than fixed maturity debt precisely because you didn’t have to roll it over. The Downton Abbey set held perpetuities."
What a brilliant statement! Perhaps it should have been the title.
Well done John!
From my days teaching money & banking: “Asset A is more liquid than asset B if A can be converted into money at a lower cost than can B.” Of course, that’s for two individual assets. Expanding the definition to the market level, we can talk about asset groups (industries, risk rating, etc.)
Now, if only we could get the impediment of vested interest in the existing privileged trading houses in Treasuries out of the way ... Who wouldn't like to be one of them?