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Portugal to Pay Public Workers In Treasury Bills
04-07-2013, 11:52 PM #1
DaJavoo If looks could kilt
Posts:1,773 Threads:45 Joined:Mar 2011

Portugal Considers Paying Public Workers In Treasury Bills Instead Of Cash


http://www.zerohedge.com/news/2013-04-07...stead-cash
>snip<

The Portuguese government is considering a plan to pay public workers and pensioners one month of their salary in treasury bills rather than cash after a high court ruled out wage cuts, a person familiar with the situation said Sunday.

By paying one month of salary in T-bills to public workers and pensioners, the government would save an estimated €1.1 billion in expenses, narrowing the budget gap significantly.


>snip<

Incidentally, this plan makes perfect sense: with every central bank openly monetizing its debt, it has effectively made debt and cash equivalent.

Now if only Portuguese public workers had access to the same shadow transformation pathways and government bond repo collateralization opportunities afforded to the big banks, then every bill thus obtained would be able to serve as a source of nearly infinite rehypothecation potential, and thus, a DIY fractional reserve banking system provided to every individual.

Coming next: the full convertibility of Spanish Spiderman towels backed by the full faith and credit of the Rajoy kickback scandal, and fully convertible into chorizo.

All joking aside, the fact that this absurd option is even being contemplated shows just how deep into the rabbit hole event horizon the modern completely insolvent financial system has traversed.

Full article at posted link...
04-08-2013, 12:04 AM #2
Octo Mother Superior
Posts:41,550 Threads:1,589 Joined:Feb 2011
If they're printed on hemp paper they could possibly be substituted for food, but not for long. 13.gif
04-08-2013, 12:16 AM #3
DaJavoo If looks could kilt
Posts:1,773 Threads:45 Joined:Mar 2011
(04-08-2013, 12:04 AM)Octo Wrote:  If they're printed on hemp paper they could possibly be substituted for food, but not for long. 13.gif


chuckle.gif Or smoke 'em.

But seriously, if the poor chumps try to cash them in they will get much less than for how much they are redeemable (if, at all, but I digress) ~ they will prolly get the 30yr fixed.
04-08-2013, 12:16 AM #4
JayRodney ⓐⓛⓘⓔⓝ
Posts:30,289 Threads:1,495 Joined:Feb 2011
With fiat currency when isn't debt and money the same thing? Money is created out of thin air with debt as it's standard.
It all woks well until the economy falls on its face due to the overwhelming greed of those pulling the strings.

wonder.gif

04-08-2013, 12:18 AM #5
DaJavoo If looks could kilt
Posts:1,773 Threads:45 Joined:Mar 2011
(04-08-2013, 12:16 AM)JayRodney Wrote:  With fiat currency when isn't debt and money the same thing? Money is created out of thin air with debt as it's standard.
It all woks well until the economy falls on it's face due to the overwhelming greed of those pulling the strings.


The sheeple never made the connection and the disconnect was 'purchasing power' ~ however, exactly ^ ^ ^ that is coming to pass ~ in full technicolor ~ but it only needs to be sepia ~ for shit stains doncha' know.
04-08-2013, 12:24 AM #6
JayRodney ⓐⓛⓘⓔⓝ
Posts:30,289 Threads:1,495 Joined:Feb 2011
lol.gif Yup, it's getting ripe as a black banana.

wonder.gif




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