Essentially, they’re writing $1,000,000 on a piece of paper and declaring it to be worth the full amount of the debt. The bank issuing this “coupon” being themselves, who can totally back this coupon’s worth.
Kinda like if tried to pay your bills with monopoly money.
Essentially, they’re writing $1,000,000 on a piece of paper and declaring it to be worth the full amount of the debt. The bank issuing this “coupon” being themselves, who can totally back this coupon’s worth.
Kinda like if tried to pay your bills with monopoly money.