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March 19 2009
“ In the big book of Folktales for money managers you’ll find this delightful story. It begins, as folktales do, when stranger who comes to town. As he checks into the hotel he asking Albert the desk clerk to store ten thousand dollars the money safely in the hotel safe. But Albert takes the money and pays off a debt to Bob. This triggers a cascade. Bob pays off a debt to Charlie, Charlie to Dave, etc. Later that evening Zed steps into the hotel and pays off a debt he owes to Albert. Greatly relieved Al then places the money into the safe. The next morning the stranger is chatting with Albert and reveals he’s a Fed. As he is retrieving his cash he jokes: “Man, these are lousy these counterfeit notes!” ”— Ascription is an Anathema to any Enthusiasm › Daisy Chains of IOUs
