No, Virginia, Nothing is Really Risk Free

Jul 08 2013 6:51 AM

American Magazine, by Alex J. Pollock Posted By: eagleblurst- Mon, 08 59 2013 01:59:28 GMT The financial world confronts us with ineluctable uncertainty and risk. Its future is unknowable, not only for borrowers, lenders, and investors, but also for governments and central banks. No matter how hard anyone might try, risk cannot be made to disappear; it can only be moved around. People all over the world long for their bank deposits to be risk free. Governments attempt to satisfy this longing by creating deposit insurance and by bailing out depositors and other creditors of failed banks.

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