WC Varones Salutes Zimbabwe Ben

WC Varones (WCV) issued a 30-year, 5% fixed-rate mortgage. An overpriced California house came with it, but WCV short-sold the dollar. WCV is now a veritable Timmy Boy. Attaboy WCV! I'm looking to issue a 30-year 5% fixed-rate mortgage too. Here's a link to WCV's 12 January 2010 post: http://wcvarones.blogspot.com/2010/01/how-i-learned-to-stop-worrying-and-love.html. Don't be afraid to issue 30-year fixed-rate, dollar-denominated debt, even if a house comes along with it. Remember, "got gold, get more. Got bonds, you fool".

Suppose you go to Las Vegas. Who wins? You or the house? Similarly, when you hold Treasury bonds you are betting against the house. Why? Bet with the house and issue Zimbabwe Ben's funny money.