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QLD How can Bank Sue for Unpaid Debt?

Discussion in 'Debt and Bankruptcy Law Forum' started by tamus, 10 August 2016.

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  1. tamus

    tamus Active Member

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    Hello,

    Because the banks create money out of thin air every time a loan is created, how can they sue for a loss if the debt is not repaid in full?
     
  2. Rod

    Rod Well-Known Member

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    How they obtain/create the money is not relevant. They enter into a contract with the borrower and can elect to enforce it if the borrower defaults.

    Not really an different to a business contract where there is $1M profit in a $2M contract. The business has magically created $1M out of thin air and can enforce the contract for $2M.

    You should stop listening/believing a certain segment of our community that engages in sophistry.
     
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