Here's what the problem with money is

[Into the Night]

I think you mean South Dakota.

Why would I say Delaware to mean South Dakota????

Anyway, a debt does not have to have collateral to be used as collateral.

So?

If you are a creditor holding a debt, you are considered to hold an asset.

Correct.

You will [possibly] be receiving payments on that debt.

So?

You can use that collateral on getting a loan.

Yes. So? Interbank loans are common. Apparently you haven't figured out what happens with those when there are a lot of defaults. Remember late 2007? Remember how it quickly spread worldwide? Interbank loans defaulting along with the rest of them.

So lets say you are a bank, with holding $100 million in mortgages, but there is a run on the bank, and the depositors want $50 million of their deposits back, RIGHT NOW!!! Obviously, you cannot end the mortgages, so instead, you get a loan using the mortgages as collateral. Usually the rate you would pay as a bank is much lower than the mortgage rate, so with any luck, you can still make a profit.

Assuming you can find someone willing to give you a loan on that basis. As soon as the 2007/2008 crash hit, those loans rather dried up. They weren't available. No one wanted to voluntarily jump into the sinkhole.

 

[Into the Night]

Seriously, you have never used EZ-Pass?

No. We call it GoodToGo here.
1) I do not use toll bridges.
2) If I happen to cross one, I pay the bill with a check when it comes in.
3) If I wanted to sign up for the service, I can write a check or use a debit or credit card. I don't bother with credit cards. I don't have a single credit card. I don't want them. They keep offering them, but I refuse them. I know what scams they are.

I stay out of debt. I own everything free and clear.

Debt is one thing for getting into a home or possibly for purchasing a car, but credit card debt is terrible. Avoid it.

 

[Into the Night]

Man invented money for the convenience, especially when used as legal tender.

'Legal tender' is a buzzword used by governments to designate fiat currencies. People will use whatever currency they wish. NO government can stop that.
Yes. Money is convenience. Sure beats direct barter in most cases. There's a reason people started using cash some 5000 years ago (as far as anyone can determine so far), and they've been using it ever since.

For some reason, there are idiots on this forum that call this 'fascism'. It's basically because they don't know what fascism is.

 

[danielpalos]

The point is, persons with legal tender to circulate find it easier to participate in market friendly transactions than do persons who are experiencing a poverty of legal tender.

 

[Truck Fump / h1b]

You will never get full value for a bad debt. You will always get pennies on the dollar for it. That is never good.

The best you can hope for is to use the debt as collateral, and make enough money off the other debt to payoff a low interest rate loan. This is still losing money. No one wants to be holding bad debt.

People used to think it was a good idea to be an originator of bad debt. You could make a bad loan, and before anyone realizes it is a bad loan, you sell it off. The problem with that is when it all falls apart, you are still holding some of the loans. Worse yet, as it starts to fall apart, the loan sales slow, and you end up holding more of the bad loans. And do not expect a bailout, because you do not have enough of the bad loans to be systemically important.

banks had bad debt, they got made whole.

You know about "too big to fail". dont act stupid.

You're full of bullshit.

you're a pro establishment anti human liar.

 

[Truck Fump / h1b]

'Legal tender' is a buzzword used by governments to designate fiat currencies. People will use whatever currency they wish. NO government can stop that.
Yes. Money is convenience. Sure beats direct barter in most cases. There's a reason people started using cash some 5000 years ago (as far as anyone can determine so far), and they've been using it ever since.

For some reason, there are idiots on this forum that call this 'fascism'. It's basically because they don't know what fascism is.

legal tender could be a sound currency.

You a bitcoin boi?

 

[AlexandrosTsolis]

You should probably read this...genius...

remember players...other players are also reading here, it isn't just you and me...so...


Next time player that you read something on the internet that is nonsense, remember that you can ignore it...

and player, you can keep on ignoring nonsense, unless people forget that...

Money reduces the time and effort to trade…

as then... we are stuck with idiots wasting our time and effort, with their endless money stories...

Get it now player, or are you still wondering what to reply to me?


You didn't really think about it players, did you really?
Why?
Cause if you really think about it players, you will really understand...this is exactly why...

 

[Truck Fump / h1b]

You should probably read this...genius...

remember players...other players are also reading here, it isn't just you and me...so...


Next time player that you read something on the internet that is nonsense, remember that you can ignore it...

and player, you can keep on ignoring nonsense, unless people forget that...

Money reduces the time and effort to trade…

as then... we are stuck with idiots wasting our time and effort, with their endless money stories...

Get it now player, or are you still wondering what to reply to me?


You didn't really think about it players, did you really?
Why?
Cause if you really think about it players, you will really understand...this is exactly why...

you should consider more than convenience, idiot.

Yes. You sir, are a fucking idiot.

 

[AlexandrosTsolis]

you should consider more than convenience, idiot.

Yes. You sir, are a fucking idiot.

You should probably read this...genius...

remember players...other players are also reading here, it isn't just you and me...so...


Next time player that you read something on the internet that is nonsense, remember that you can ignore it...

and player, you can keep on ignoring nonsense, unless people forget that...

Money reduces the time and effort to trade…

as then... we are stuck with idiots wasting our time and effort, with their endless money stories...

Get it now player, or are you still wondering what to reply to me?


You didn't really think about it players, did you really?
Why?
Cause if you really think about it players, you will really understand...this is exactly why...

 

[Truck Fump / h1b]

You should probably read this...genius...

remember players...other players are also reading here, it isn't just you and me...so...


Next time player that you read something on the internet that is nonsense, remember that you can ignore it...

and player, you can keep on ignoring nonsense, unless people forget that...

Money reduces the time and effort to trade…

as then... we are stuck with idiots wasting our time and effort, with their endless money stories...

Get it now player, or are you still wondering what to reply to me?


You didn't really think about it players, did you really?
Why?
Cause if you really think about it players, you will really understand...this is exactly why...

I don't care who's reading.

they can go suck a cock, ..heart felt.

 

[Trumpet]

I don't care who's reading.

they can go suck a cock, ..heart felt.

Such a brilliant reply.

 

[AlexandrosTsolis]

I don't care who's reading.

they can go suck a cock, ..heart felt.

You should probably read this...genius...

remember players...other players are also reading here, it isn't just you and me...so...


Next time player that you read something on the internet that is nonsense, remember that you can ignore it...

and player, you can keep on ignoring nonsense, unless people forget that...

Money reduces the time and effort to trade…

as then... we are stuck with idiots wasting our time and effort, with their endless money stories...

Get it now player, or are you still wondering what to reply to me?


You didn't really think about it players, did you really?
Why?
Cause if you really think about it players, you will really understand...this is exactly why...

 

[AlexandrosTsolis]

https://www.facebook.com/AlexandrosTsolis/

 

[Truck Fump / h1b]

You should probably read this...genius...

remember players...other players are also reading here, it isn't just you and me...so...


Next time player that you read something on the internet that is nonsense, remember that you can ignore it...

and player, you can keep on ignoring nonsense, unless people forget that...

Money reduces the time and effort to trade…

as then... we are stuck with idiots wasting our time and effort, with their endless money stories...

Get it now player, or are you still wondering what to reply to me?


You didn't really think about it players, did you really?
Why?
Cause if you really think about it players, you will really understand...this is exactly why...

I don't care who's reading it.

You're an imbecile.

Anything else, player?

 

[AlexandrosTsolis]

I don't care who's reading it.

You're an imbecile.

Anything else, player?

yes player here...



You should probably read this...genius...

remember players...other players are also reading here, it isn't just you and me...so...


Next time player that you read something on the internet that is nonsense, remember that you can ignore it...

and player, you can keep on ignoring nonsense, unless people forget that...

Money reduces the time and effort to trade…

as then... we are stuck with idiots wasting our time and effort, with their endless money stories...

Get it now player, or are you still wondering what to reply to me?


You didn't really think about it players, did you really?
Why?
Cause if you really think about it players, you will really understand...this is exactly why...

https://www.facebook.com/AlexandrosTsolis/

 

[Truck Fump / h1b]

yes player here...



You should probably read this...genius...

remember players...other players are also reading here, it isn't just you and me...so...


Next time player that you read something on the internet that is nonsense, remember that you can ignore it...

and player, you can keep on ignoring nonsense, unless people forget that...

Money reduces the time and effort to trade…

as then... we are stuck with idiots wasting our time and effort, with their endless money stories...

Get it now player, or are you still wondering what to reply to me?


You didn't really think about it players, did you really?
Why?
Cause if you really think about it players, you will really understand...this is exactly why...

https://www.facebook.com/AlexandrosTsolis/

What is why what?

you're a nearly incoherent cretin.

Nobody wants cashless fiat money.

Thats just totalitarianism.

bitcoin isn't better.

 

[AlexandrosTsolis]

What is why what?

you're a nearly incoherent cretin.

Nobody wants cashless fiat money.

Thats just totalitarianism.

bitcoin isn't better.

oh boy...this one is going of the rails...

remember players...other players are also reading here, it isn't just you and me...so...


Next time player that you read something on the internet that is nonsense, remember that you can ignore it...

and player, you can keep on ignoring nonsense, unless people forget that...

Money reduces the time and effort to trade…

as then... we are stuck with idiots wasting our time and effort, with their endless money stories...

Get it now player, or are you still wondering what to reply to me?


You didn't really think about it players, did you really?
Why?
Cause if you really think about it players, you will really understand...this is exactly why...

https://www.facebook.com/AlexandrosTsolis/

 

[Truck Fump / h1b]

oh boy...this one is going of the rails...

remember players...other players are also reading here, it isn't just you and me...so...


Next time player that you read something on the internet that is nonsense, remember that you can ignore it...

and player, you can keep on ignoring nonsense, unless people forget that...

Money reduces the time and effort to trade…

as then... we are stuck with idiots wasting our time and effort, with their endless money stories...

Get it now player, or are you still wondering what to reply to me?


You didn't really think about it players, did you really?
Why?
Cause if you really think about it players, you will really understand...this is exactly why...

https://www.facebook.com/AlexandrosTsolis/

Now you're just spamming.

That's an admission you lost the argument.

I win.

Thanks for playing.

 

[AlexandrosTsolis]

Now you're just spamming.

That's an admission you lost the argument.

I win.

Thanks for playing.

keep imagining stuff player...but when one imagines something, something else is happening around one in reality, or else it doesn't seem to me where inside one really imagines something...does it seem to you playa?


remember players...other players are also reading here, it isn't just you and me...so...


Next time player that you read something on the internet that is nonsense, remember that you can ignore it...

and player, you can keep on ignoring nonsense, unless people forget that...

Money reduces the time and effort to trade…

as then... we are stuck with idiots wasting our time and effort, with their endless money stories...

Get it now player, or are you still wondering what to reply to me?


You didn't really think about it players, did you really?
Why?
Cause if you really think about it players, you will really understand...this is exactly why...

https://www.facebook.com/AlexandrosTsolis/

 

[Truck Fump / h1b]

keep imagining stuff player...but when one imagines something, something else is happening around one in reality, or else it doesn't seem to me where inside one really imagines something...does it seem to you playa?


remember players...other players are also reading here, it isn't just you and me...so...


Next time player that you read something on the internet that is nonsense, remember that you can ignore it...

and player, you can keep on ignoring nonsense, unless people forget that...

Money reduces the time and effort to trade…

as then... we are stuck with idiots wasting our time and effort, with their endless money stories...

Get it now player, or are you still wondering what to reply to me?


You didn't really think about it players, did you really?
Why?
Cause if you really think about it players, you will really understand...this is exactly why...

https://www.facebook.com/AlexandrosTsolis/