The cost of a penny of debt is a contract that has the same legal enforcement as a debt of $1M.
That is the point I am making here.
If you actually borrow $1 from your mate, he is not going to take ...
If I have $100 in collateral for my $100 dollars I am in debt for, I get liquidated if I am unable to pay, not pushed into bankruptcy. That was my original point.
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