Jan 15, 2011

Debt Relief

    At my first  Economy lecture, the professor asked, what is the cost of money? None of us gave the correct answer. all the students mentioned Gold prices, Exchange Rates, Stock markets,  etc. After the class calm down, the professor gave the answer, interest of course is what we pay for buying money.
   And then he continued shocking us again by giving a declaration "loans shall not be returned" ,
except the workers and small businesses which must pay their small loans to the Banks and the
sharks. All the students were astonished and ask for an explanation! The professor explained it
very simple. All the Finance Industry do not want to sit on their money, they are selling it for an 
annual income which is the interest. 
   So just imagine, that all the loans in the world are returned. Then the banks have no more income eh?" The professor show us examples of famous corporations and countries which their debts were consolidated and recycled.
   To simplify the issue, the professor told us about his friend a true story that highlights the claim of the loan that always recycled.
    At the Korean war a company of Marine Ranges walked into a snipers ambush. The scout and the Lieutenant were killed Immediately and Tom took over the command and rescue the company safely. All the Rangers swear that they will never forget this, and they owe him their lives. The war was over and the men returned home. But they continue keep in touch and decided to meet once in a year at Las Vegas.
. All the veterans were very lucky in their businesses, except Tom which start gambling and boozing. Two years after the war his debts exceed fifty grands and his wife pushed him hard to stop and to recover of gambling and became a man. The next day Tom came into Richard's office and after a short small talk, he asks Richard sixty grands as a non interest loan for three months, so Richard gave his hero which saved his life during the war. Three month later Tom knock on Ted's door and again got his sixty grands which he returned to Richard. 
   And so Tom recycled his debt between his friends. Every three months he got one loan, returned his debt and have a pint of beer with his friends. The years passed but the veterans keeps in touch annually, and Tom was still walking around moving the dough between his friends. After ten years Tom fell sick and was dying, so all the veterans assembled around his bed. Some were praying some were running the old memories to encourage Tom. And then Tom made a confession and told them all about his gambling and the need for the dough of sixty grands and how the loan changed his life.
He remind them how he visit them regularly each three months recycling the dough between them. And told them, now why the hell you need me you can recycle the money without my presence. 
Epilogue The Debt Relief became now part of our life, every day we read about countries playing the same game which Tom the Ranger developed.

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