3 ms·

I'm glad I never had to, but that edge case doesn't obviate the advantage of issuing perpetuities.

• exelius 11y ago
  I wouldn't say it's an edge case; it eventually will happen to any perpetuity.
  • ghshephard 11y ago
    Well, if the payment is specified in gold, it will be a very long time before that medium is not available.
    • exelius 11y ago
      Then it's just a futures contract; and nobody in their right mind would sell a futures contract on a perpetuity. Currency is a useful abstraction for a lot of reasons.
      • murbard2 11y ago
        No, it's absolutely not a futures contract: you collect coupons over time.
  • tome 11y ago
    Yes, but also the issuer of any perpetuity will go out of existence.
    • exelius 11y ago
      Not if they're the Dutch government, apparently.