Recently there’s been a deal of talk about “sovereign default”, ie the possibility that whole governments might go belly-up. That would be (alas) only in the sense of deciding not to pay their financial obligations. Something that’s not supposed to happen, because every time you and I go to visit our money we are reassured by that pretty sticker on the teller’s window, about how bank accounts are well insured. All backed by the “full faith and credit” of the FedGov. Ha! So what are the assets of any government? A real entity such as a company of people … Continue reading Government Assets