The Cash Society

And the hidden inflation of debt.

September 30th, 2008. You might remember that date. That is the date when the stock of all the major banks was worth $0. At that time, their assets were overwhelmed by their liabilities. This article is a reflection of that moment in time.

we stand before the precipice and look down, we need to take inventory to see how we got here. The 30-year mortgage has been around for a long time, and recently, within the last 30 years, it has gone through some permutations. As some may recall, around 2003, the Adjustable Rate…