To: Errant
Page 27, "When a borrower cannot repay and there are no assets which can be taken to compensate, the bank must write off that loan as a loss. However, since most of the money originally was created out of nothing and cost the bank nothing except bookkeeping overhead, there is little of tangible value that is actually lost. It is primarily a bookkeeping entry".
136 posted on
12/26/2013 10:29:08 PM PST by
Toddsterpatriot
(Science is hard. Harder if you're stupid.)
To: Toddsterpatriot
there is little of tangible value that is actually lost. What's not true about that? And loans are forgiven - no?
139 posted on
12/26/2013 10:40:19 PM PST by
Errant
To: Toddsterpatriot; Pelham
Here’s a question. If China (or any foreign CB) purchases treasury bonds. What currency does it use to do so? US dollars right?
141 posted on
12/26/2013 10:46:32 PM PST by
Errant
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