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Monday, June 05, 2023 8:51:47 AM
On the other hand, commons becoming worthless is not desired by the government. After all, it wants to monetize its common holdings. Even if treasury held two trillion common shares worth 0 cents after an equal SPS/JPS conversion, the total value of this position would still be zero:
This is because 2 trillion x 0 = 0
By contrast, two trillion shares of common stock x 5 cents yields the desired $100 billion.
KThomp19 wrote several times: If commons were worth even one cent, JPS would be worth par.
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