Comment Re: Selling Debt (Score 1) 186
You misunderstand. If you have $10, you don't owe debt, you OWN debt. Someone owes you $10 in productive labor or material goods. The bank from which you received the $10 acts as an intermediary on your behalf. They loaned out that $10 to someone else.
And if you wish to collect the debt owed to you, you do so in the form of goods and services you purchase by selling your debt instruments (cash).
People like to pretend that calling it cash or adding unique regulations and intermediaries somehow makes this different from selling debt, but the logic of that argument is absent in the face of fungible money.