The Genius of Mutual Indebtedness

No NO!! He's got it all WRONG!!

If I am a creditor, that means I'm a SOPHISTICATED INVESTOR, which means I should be GUARANTEED REPAYMENT.

Even when I loan oodles of money to a country known for using fake grass swimming pool tarps to hide the pools from tax assessors in helicopters, I am loaning them all that money SOPHISTICATEDLY!

Therefore it was a SMART, SOPHISTICATED decision, for which I am due full repayment, with interest.....

And a big bonus.

:D
 
Quote from zdreg:

but of course!

The rain beats down in a small Irish town. The streets are deserted. Times are tough. Everyone is in debt and living on credit. A rich German arrives at the local hotel, asks to view its rooms and puts on the desk a €100 note. The owner gives him a bunch of keys and he goes off for an inspection.

As soon as he has gone upstairs, the hotelier grabs the note and runs next door to pay his debt to the butcher. The butcher hurries down the street to pay what he owes to his feed merchant. The merchant heads for the pub and uses the note to pay his bar bill. The publican slips the note to the local hooker who’s been offering her services on credit. She rushes to the hotel to pay what she owes for room hire. As she puts the €100 bill on the counter, the German appears, says the rooms are unsuitable, picks up his €100 note and leaves town.

debt issue solved.
More...

Is the answer to print money and mail out checks to citizens?
 
Quote from achilles28:

Is the answer to print money and mail out checks to citizens?
More...

I think they are doing that - if you replace "citizens" with "banks". :D

Or, they could just let those who made stupid decisions in lending money eat their losses.

But that might be too "Capitalistic" an idea to fly....

:D
 
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