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Many many People, companies and national governments owe an extremely large amount of money that they can only make payments on by taking on new debt. If credit dries up, it presents a systemic risk that can only be halted by massive new liquidity injections from the central banks. ...
Who is the lucky guy all this debt is owed to? Does Dawg The Bounty Hunter collect for him? 'Coz if he does, "People, companies and national governments" will surely pay.