Ah, old bonds. I am a born and bred Yankee, but I confess to a vested interest in the south rising again. I own several confederate bonds, legitimate spoils of war. My favorite is a $100 bond, five percent annual interest, with the coupons clipped right up through April 1865. The unclaimed interest, of course, would accumulate and compound at five percent. 20 or so years ago I calculated how much that would be worth today. I forget the number, but suffice it to say that I would be very, very well off.
I am sure that if the south rises again, it would honor the old confederate bonds. This would be a debt of honor. Anyone who disagrees is obviously a scoundrel and a scalawag, and you have no place on in a conservative forum like FR.
The best part is that since my ancestors were from the north and wore blue, I wouldn’t be liable for racial reparations either. I might, however, have to move somewhere with lax tax laws and no extradition treaty with the U.S. to avoid expropriative taxation.
I remember Charlie Munger, Warren Buffets business partner, saying his favorite investment was a perpetual oil-gas royalty stream he bought in the early 1960s for $1000.
when he died, it was paying him $70,000 per year (it rose with inflation and oil / gas prices)
Reminds me of an episode of The Andy Griffith Show (”Mayberry goes bankrupt”) about one of the town’s residents who is about to get evicted from his run down house by the town because he is delinquent on his back taxes.
Looking through his belongings for something to sell to raise money, he comes across a 100-year-old $100 confederate bond (purchased by his grandfather) which is redeemable for the face value plus 8 1/2% interest compounded annually. The town may owe him $350,000 when the town Treasury has only about $10,000 in it.
The South may rise again, but not the Confederate States of America.