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6min chapter
Liquidity and Debt Structures | The Twilight of Gold Series | Episode 7 (WiM158)
The "What is Money?" Show
What the Bak Hers?
Mortgages were designed to allow you to live in a home, pay interest, and then spend those five years saving the principl. Because your loan to value ratio was only 50 %, if for some reason you couldn't save enough, the bank could still sell the home. An illiquid system is one that has no liquid assets on its books. And so i think if your time horizon is one generation, maybe two or three, this actually is a system if you're within that window,. which is a long window.
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