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John Gianino

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Debt Is not real

The concept of economic loss and debt is firmly emended in society. Do we really owe anything to anyone? I challenge people to argue against the idea that debt exists and state why it does not exist as a test of reasoning and creativity within this forum. I will reply to your comments with my counter argument. Try to remain clear, concise, and cogent in your statements.

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    Mar 11 2013: How many people are aware that debt is currently bought in different markets for a fraction of its original amount and that it is resellable?
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      Mar 11 2013: Of course this happens all the time with mortgages
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        Mar 11 2013: Can you explain why a debt should be reduced, divided, and resold but remain constant to the repayer?
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          Mar 12 2013: Debt bought and sold is a commodity of Interest Income. You are purchasing contracts, debts representing a steady stream of income from profits on interest collected on the debt from the original debtor. This can only be profitable if you purchase the "debt" at a discount.

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