Comment: A money market is

(See in situ)


A money market is

still an IOU from one bank to another. What happens when interbank lending rates spike like they did in 2008 and the market just grinds to a halt. Money markets get siezed up and nobody can move anything (you can't get your cash).

I'm all for gold and silver, or other means of payment of debts that you owe, but you then have to watch out for people "double-dipping" and using the legal tender monopoly to say "hey, he didn't pay me back!"

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Progress is precisely that which the rules and regulations did not foresee. - Ludwig Von Mises.