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Jiang argues 2008 did not have to collapse from defaults alone because banks could have rolled defaults forward within an illusion-based money system.
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Defaults
Jiang argues 2008 did not have to collapse from defaults alone because banks could have rolled defaults forward within an illusion-based money system.
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"Okay? The problem, of course, is subprime could lead to default. Okay? But at this time in history, no one was concerned about default..."
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"Okay? The banks could just choose to roll over the default. Okay? Meaning, okay, you owe me $1,000. Right? For the mortgage. But you..."
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"...in a position to say well guess what we're going to default or uh we think these are this is odious debt we need..."
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"...these private banks. And then, suddenly, in 2008, there's this massive default. It collapses. The question is, why did this happen? And again, you're..."
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"...me, hey, Mr. Jia, I bet you that Amber will not default on her loan because she hasn't defaulted in the past 10 years...."
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"Now, what I do, now I make you default because now I can make a million dollars from Vincent. And that's how it worked,..."
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"...what happens is they can't pay back the interest. Right? They default on a loan and then landowners, the nobility, seize the land."
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"...feel there must be corruption in place so they set the default petition to the emperor the emperor looks at the petition and he..."
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