Actually, you are wrong. There comes a point when the debtor has more leverage. It happens sometimes when banks loan money to a business and then end up making other loans to try to keep the business afloat. At some point the bank has more to lose than the original business. The bank would love to throw in the towel, but the better option becomes to ride it out.
Regarding “He who controls the debt controls everything”:
Actually, I am reminded of the movie, “The International” (IIRC) with Clive Owen, which is a spy movie that includes international banking. International banks were footing the bills for arms deals to dictators in exchange not for a friend in the region, but, rather, for control of the debt on an international scale, which in turn controls events.
http://www.imdb.com/title/tt0963178/
Of course, we here would advocate getting out of all debt personally as the best defense. On a national scale, as a debtor nation, we are now not merely easy pickings for ChiComs and so forth, but also a vassal to their increasing demands. It’s the reiteration of the Ottoman Empire’s ‘concession’ lands to the likes of the Dutch (Royal Dutch Shell) during the demise of the empire.
Among the shadows of intrigue in DC lies a dark silence that hides the intent. The intent we note here does not serve the foundational values and issues of Ameircan exceptionalism and sovereignty.
My 2 cents.
Boots