[ExI] Why the 2008 crisis ended capitalism and democracy

[Dave Sill]

On Wed, Jul 11, 2018 at 6:48 AM SR Ballard <sen.otaku at gmail.com> wrote:

> Suppose you have 2 countries.
>
> Country A owes B $1M
> Country B owes A $2M
>
> Why can't Country A and B just "trade" their imaginary debt to each other,
> so that A owes nothing, and B owes $1M?
>

Because most debt isn't owned by countries, it's privately held and paying
the owners varying rates of return.

-Dave
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