Doesn't anyone owe us money??

[dang65]

All countries seem to have a national debt, right? Do they all owe money to the same country? Or do we all owe money to each other? In which case, isn't it time someone went through the books and cancelled out all the ones which match each other:

France owes UK 100 billion pounds
UK owes France 150 billion pounds
= UK owes France 50 billion pounds = reduced debt for everyone

Does no one owe money to anyone that owes them money?

Also, why don't we all borrow huge amounts of money from, say, Easter Island, pay off all our debts with it and then tell Easter Island to write off the loan or we'll nuke them?

[Spacecadet]

Ever thought of running for parliment?

[alreadypacked]

We all owe money to China.

HTH

[Moscow Mule]

We all owe money to China.

HTH

Nuke China?

Not sure that's the best course of action.

[MarillionFan]

Don't Iceland owe us some cash???

[cailin maith]

Don't Iceland owe us some cash???

Yeah but they decided Ash was enough for us

[threaded]

We all owe money to China.

HTH

WSS.

Basically the banks borrowed money from China to give you loans on houses the sellers of which then bought themselves lovely Chinese televisions, with the money they masw the Chinese lent the banks money to give you loans on houses ...

[TimberWolf]

We all owe money to China.

HTH

Yeah, but if we paid back China, they would go bankrupt because we wouldn't be able to buy their goods.

[fullyautomatix]

The savings of people in China, Brazil and other emerging countries was used to bubble assets in western world.

Just wait till China pulls the plug on the credit and that would be the mother of all credit squeeze.

[AtW]

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