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?
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?
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