“Your only worth what someone will lend you” This is an old quote and is foolishly evil. A human beings worth is better stated in terms of their reputation and even better stated in terms of who they are as a person in private as well as public. Someone’s lending reputation is just a small part of their greater reputation and even a good reputation can fully overcome the current financial situation of an individual if it is bad. With debt we start view the value of individual in terms of debt and it devalues many. In our society credit reports are pulled for job interviews someone with a lot of debt may be a job risk as they be tempted to steal or betray, someone with too little debt may not be a good employee because they can walk at anytime unenslaved by debt. The United State sent gunships to Ecuador to enforce debt payments and Ecuadorians have a reputation of borrowing and not paying debt back. I had this Ecuadorian roommate once…. Investors are wary to lend money to countries that are a credit risk and their enemies view them as weak. Countries use debt risk of money they lent as an excuse to invade. In a nation with a fractional reserve system where the fed only has partial control over the money supply a citizen could be stuck with debt he is unable to pay because there is not enough currency flowing in the system for everyone to meet their debt obligation. Drawing the short straw or being a little vulnerable at that moment could mean the destruction of his reputation, his investments, and his life for being only a little at fault when most of the blame lies with the immorality of the system. Yeah that’s me. It sucks.