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deepflows  ·  3392 days ago  ·  link  ·    ·  parent  ·  post: Why I Defaulted on My Student Loans

Your views on what money is, how it is created and how loans work are outdated by a at least several decades. Nobody is paying for the loans you default on and 97% of all money is created when commercial banks grant loans. A 2015 study offered solid evidence that individual banks indeed create money "out of thin air". I have linked that study several times, this thread included. Money and loans are not what you think they are.