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To: Claude Cormier who wrote (98897)6/24/2009 2:15:10 PM
From: Hawkmoon  Read Replies (1) | Respond to of 116555
 
Credit destruction is not necessarily monetary destruction.
All depends how the debt is destroyed.


Guess I'll need to see some examples.

As I recall my economics, when a loan is originated (especially when based upon fractional reserve), money is created. When that loan defaults, money is destroyed.

Will be interested in seeing what you can provide as substantiation to your assertion.

Hawk