Liquidation Of Debt Positions Explained

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Liquidation of debt positions explained May 07, 2009
Just an amusing one for a Thursday afternoon:

It is August. In a small town on the South Coast of France, holiday season
is in full swing, but it is raining so there is not too much business
happening. Everyone is heavily in debt.

Luckily, a rich Russian tourist arrives in the foyer of the small local
hotel. He asks for a room and puts a Euro100 note on the reception
counter, takes a key and goes to inspect the room located up the stairs on
the third floor.

The hotel owner takes the banknote in a hurry and rushes to his meat
supplier to whom he owes E100. The butcher takes the money and races to his supplier to pay his debt. The wholesaler rushes to the farmer to pay
E100 for pigs he purchased some time ago.

The farmer triumphantly gives the E100 note to a local prostitute who gave him her services on credit. The prostitute goes quickly to the hotel and paid her debt, as she was owing the hotel for her hourly room use to
entertain clients.

At that moment, the rich Russian is coming down to reception and informs
the hotel owner that the proposed room is unsatisfactory and takes his
E100 back and departs.

There was no profit or income. But everyone no longer has any debt and the small town's people look optimistically towards their future.

Speedhump
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May 07, 2009
Like that. But don't think you are going to distract us that easy from the new avatar.
Bora Bora
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May 07, 2009
I have nothing to hide (well about 2 inches...)
Speedhump
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May 07, 2009
Girl to boyfriend- Hun I lost my virginity to SH but no worries after bout 2 inches I'm brand new :D :lol:
Misery Called Life
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May 07, 2009
:D see, I'm 'mostly harmless'
Speedhump
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