Funny quote about money

fanuvmxpx · Thu Dec 18, 2008 - 23:38:14

Reader's Digest...

"If every nation of the world is deeply in debt, who has the money?"

James Rondon · Thu Dec 25, 2008 - 21:55:08

I was just asking the same question the other day. Unless there was a massive international bonfire, or something else of that sort, the money has to be somewhere...

Jimmy · Fri Dec 26, 2008 - 06:23:01

Quote from: fanuvmxpx on Thu Dec 18, 2008 - 23:38:14
Reader's Digest...

"If every nation of the world is deeply in debt, who has the money?"

Nobody has the money. The debt is backed by collateral. Or rather it is supposed to be backed by collateral. That is part of the problem. The collateral isn't worth what is written on the paper as debt.

llewksgood · Sun Feb 08, 2009 - 22:36:56

I thought we were just printing more these days?

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