I'm unable to find a precise classification and/or similarity between the two words - debt and loan. Should we consider debts (where people are helped financially or in a way they want that help - and they need to pay it off either in instalments or at a go, be it through paper money or by any other means according to the agreement) as loans OR Is there anything that could help us classify both these terms and show some dissimilarities and differences between them?
Instead of explaining anything in words, I would strongly recommend you to watch this episode and you will get the conceptual clarity on the whole system of debt.
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The Biggest Scam In The History Of Mankind - Hidden Secrets of Money Episode 4.
Further, I am expecting a healthy discussion on this topic as it is something that is going to affect the entire 21st century on a global level.