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Sovcit sent the CEO a letter. CEOs love corresponding with sovcits. (lemmy.world)

submitted 3 months ago by [email protected] to c/[email protected]

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[–] [email protected] 2 points 3 months ago* (last edited 3 months ago)

Essentially, they're writing $1,000,000 on a piece of paper and declaring it to be worth the full amount of the debt. The bank issuing this "coupon" being themselves, who can totally back this coupon's worth.

Kinda like if tried to pay your bills with monopoly money.

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