"Should the eurodollar system malfunction, as it has intermittently since August 2007, the flow of https://abs.twimg.com/emoji/v2/... draggable="false" alt="👉" title="Rückhand Zeigefinger nach rechts" aria-label="Emoji: Rückhand Zeigefinger nach rechts">“dollars”https://abs.twimg.com/emoji/v2/... draggable="false" alt="👈" title="Rückhand Zeigefinger nach links" aria-label="Emoji: Rückhand Zeigefinger nach links"> stops"

Exactly. Not-dollars. https://abs.twimg.com/emoji/v2/... draggable="false" alt="👍" title="Thumbs up" aria-label="Emoji: Thumbs up"> https://twitter.com/JeffSnider_AIP/status/1273397795773394948">https://twitter.com/JeffSnide...

"To survive, one must have https://abs.twimg.com/emoji/v2/... draggable="false" alt="👉" title="Rückhand Zeigefinger nach rechts" aria-label="Emoji: Rückhand Zeigefinger nach rechts">dollarshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="👈" title="Rückhand Zeigefinger nach links" aria-label="Emoji: Rückhand Zeigefinger nach links">. It’s that simple."

Not "dollars", not Tbonds, not stocks.

Derivatives don& #39;t cut it in "the crunch".

"Liquidity preferences. Logical and perfectly rational responses to https://abs.twimg.com/emoji/v2/... draggable="false" alt="👉" title="Rückhand Zeigefinger nach rechts" aria-label="Emoji: Rückhand Zeigefinger nach rechts">what QE and bank reserves actually arehttps://abs.twimg.com/emoji/v2/... draggable="false" alt="👈" title="Rückhand Zeigefinger nach links" aria-label="Emoji: Rückhand Zeigefinger nach links">. https://abs.twimg.com/emoji/v2/... draggable="false" alt="👉" title="Rückhand Zeigefinger nach rechts" aria-label="Emoji: Rückhand Zeigefinger nach rechts">Not moneyhttps://abs.twimg.com/emoji/v2/... draggable="false" alt="👈" title="Rückhand Zeigefinger nach links" aria-label="Emoji: Rückhand Zeigefinger nach links">."

https://abs.twimg.com/emoji/v2/... draggable="false" alt="🙄" title="Gesicht mit rollenden Augen" aria-label="Emoji: Gesicht mit rollenden Augen"> https://twitter.com/darenpa72/status/1267847886429204480">https://twitter.com/darenpa72...

It& #39;s painful to watch, isn& #39;t it? https://twitter.com/darenpa72/status/1265692876391845888">https://twitter.com/darenpa72...

I read a long time ago a story of a stranger who enters a bar out west, he leaves a $100 bill on the bar while he goes upstairs with a girl, and while he& #39;s away everyone passes that $100 bill from one to the next, clearing their debts to each other.

Anyone happen to have a link?

It doesn& #39;t really matter if you don& #39;t; it was a rhetorical question (but I would enjoy it if you did happen to find it).

The point was the stranger was from the government, and the $100 bill was the actual money that everyone owed to each other in private debts.

Jeff, among many many others, asserts that the private debts are the real money, and the $100 bill is a pointless irrelevance.

But the town economy was saturated with unpayable debts.

Until the government dude showed up with this real, live, $100 bill for an hour or two.