by Ted Bauman
The Sovereign Investor
Picture the scene: A man is blackmailed as revenge for cuckolding. He brings $75,000 in $500 bills — cash that he’s acquired from a home equity line of credit — to a meeting on a bridge, as the other man has demanded.
The blackmailer looks at the cash pensively for a moment. Then he takes it out of the bag and throws it over the side.
I saw this scene in a movie recently. I’ll not soon forget the image of $75,000 in borrowed money fluttering away into the Skokomish River. My poor wife was distraught. I imagine this image gives you a jolt, too. We’re hardwired to understand that purchasing power in physical form — i.e., cash — is highly ephemeral. It can disappear in a flash.