QLD How can Bank Sue for Unpaid Debt?

[tamus]

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?

 

[Rod]

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.