In 2016 a man named Joshua won an entire resort located on the Micronesian island of Kosrae in a raffle he paid $65 to enter. When he won it, the resort was free of debt, profitable and had more than 20 years remaining on its lease. abc.net.au/news/2016-07-2…
In Pennsylvania (USA), you can be on the hook for your parents’ debt without your knowledge or consent, and it’s completely legal paelderlaw.net/pennsylvan…
Russia did not have to pay its WW1 debt because it became the Soviet Union en.wikipedia.org/wiki/Rep…
The world's oldest independent bussiness was the Kongo Gumi Japanese construction company. After 1,428 years, it finally lost it's battle to debt, being forced into liquidation in 2006. en.wikipedia.org/wiki/Kon…
Winston Churchill was in serious financial debt, owing up to $3.75 MILLION dollars (in today's money) theatlantic.com/magazine/…
In the Antebellum South, slaves dreaded January 1 -- A.K.A. "Heartbreak Day" -- because New Year's Day was traditionally when debts were settled, resulting in black families being torn apart as slave owners sold or rented slaves out long-term to pay back those they owed money to. time.com/5750833/new-year…
After its independence and the freeing of its enormous slave population, France forced Haiti to compensate slave owners for the theft of property (the slaves), a debt lasting over 100 years which was paid off finally on 1947. en.wikipedia.org/wiki/Ext…
In Vermont, debtors are allowed to hold onto 1 cow, 2 goats and 3 swarms of bees from debt collectors. consumerist.com/2013/10/1…
Philippines thru the Debt for Nature Swap got a $18.6 M debt relief from World Wildlife Fund & USAID in exchange for doing 4 Separate Environmental Projects ( 1988-93) in El Nido National Park, Mt. Isarog National Park, Tubathaha Reef National Park & other heritage sites cbd.int/doc/external/wwf/…
Today I learned about Lou Pearlman, a music producer and con man who managed both the Backstreet Boys and NSYNC, defrauding both bands out of millions. He went on to run one of the biggest Ponzi schemes in history, leaving more than $300 million in debts to investors en.wikipedia.org/wiki/Lou…
Two businessmen in QuΓ©bec bet $517,000 on a best-of-three game of Rock, Paper, Scissors. The loser had to sign a notarized recognition of the debt contract, secured with a mortgage over the loser’s house. fasken.com/en/knowledge/2…
When Charles Dickens was 12 years old, his father was thrown into prison for debt. Charles was forced to leave school and work ten-hour days at a boot factory in order to help support his family. The poor conditions of the working class became a major theme in several of his works. en.wikipedia.org/wiki/Cha…
On 1838, in order to pay off debts of Georgetown College, the Maryland Jesuits sold 272 slaves from their plantations. The buyers were Louisiana sugarcane planters. en.wikipedia.org/wiki/183…
Florida man Andrew Levy paid off $944.34 in lunch debts of 400+ kids in Jupiter, FL area schools. myfox8.com/news/florida-m…
, The Russian novel We (1920-21) by Yevgeny Zamyatin is considered one of the grandfathers of the dystopian genre and influenced George Orwell's 1984. "Zamyatin's influence on Orwell is beyond dispute...1984 shares so many features with We that there can be no doubt about its general debt to it." en.wikipedia.org/wiki/We_…
The optimal nap time is 7-8 hours after wake up time (early / mid-afternoon depending on when you wake up), for 20-45 min (to prevent sleep onset issues). Longer naps should be taken earlier in the day if you are trying to catch up on sleep debt. archive.boston.com/boston…
In 1835, President Andrew Jackson successfully paid off the debt of the United States. The only time in history this has ever been accomplished. en.wikipedia.org/wiki/His…
Pope John XII was the only Pope who was ever beaten to death by a jealous husband for sleeping with his wife. He was also accused of turning the papal palace into a brothel, sleeping with his niece, toasting the devil, ordaining a 10yr old boy, and misusing papal funds to pay gambling debts. en.wikipedia.org/wiki/Pop…
Haiti had to financially recompensate France for lost colonial profits after gaining independence through its successful slave rebellion. This independence debt wasn't paid back in full until 1947. en.wikipedia.org/wiki/Ext…
74% of American couples plan to go into debt for their wedding. debt.com/news/wedding-deb…
After billionaire Robert F. Smith surprised the Morehouse College class of 2019 (400 graduates) by paying the educational loan debt worth $34 million, he will also pay off their parents college loans. usatoday.com/story/money/…
The father of Charles Dickens was sent to a debtors prison over owing a baker Β£40, Charles went to work off his father's debt at the age of 12 blackening shoes. en.wikipedia.org/wiki/Joh…
North Korea ordered 1,000 Volvos from Sweden in 1974 and has yet to pay it off, resulting in a debt of 2.2 billion kronor ($322 million). thedrive.com/news/16660/t…
There are only 5 debt free countries. debtacademy.com/the-debt-…
One Manhattan Zip Code is worth $42billion in home values, even taking mortgage debt into account walletwyse.com/analytics/…
In 2008 Prince Charles paid a nearly 400 years old debt of Β£453.15, made by King Charles II, who did not have enough money for the clothes of his soldiers, before the last battle of the British civil war. princeofwales.gov.uk/spee…
Rolling Jubilee, a Strike Debt project that buys debt for pennies on the dollar, but instead of collecting it, abolishes it. rollingjubilee.org/
Great Britain sold much of their American investments, and borrowed currency from Wall Street and the American government for the war effort in World War 1 (WWI). In 1931, 4.4 billion USD was still owed. The last payment on that debt was made nearly a century after the war's end, in 2015. en.wikipedia.org/wiki/Wor…
Ancient Rome had no concept of a limited-liability corporation, so entrepreneurs got around it by appointing a slave as the CEO. A master was not legally liable for a slave's debts, so this allowed the owner to control the company while avoiding personal liability in case of bankruptcy. en.wikipedia.org/wiki/Pub…
During the presidency of JΓ’nio Quadros, Brazil was faced with high inflation and large debts. Quadros negotiated for Brazil to receive 1.64 billion dollars of new loans, greatly mitigating the debt crisis that it had been facing. He also banned women from wearing bikinis on the beach en.wikipedia.org/wiki/J%C…
The original owners of bomb.com put up the domain name for sale in 2002 because of medical debt. They were looking for at least $25,000 and promised that any surplus would go to the American Cancer Society. theregister.co.uk/2002/06…
The Republic of Indian Stream existed between the USA and British Canada where the border was unclear. They wrote a constitution, but attacked a British magistrate trying to collect a hardware store debt. The US and Britain resolved the border, appalled a hardware store debt almost led to war. en.wikipedia.org/wiki/Rep…
Montreal's mayor declared in '76 that "the Olympics can no more have a financial deficit than a man can have a baby." The city actually took 30 years to then pay off the debt. cbc.ca/news/canada/montre…
In 1897 Cassie Chadwick convinced Dillon, an Ohio banker, that she was the illegitimate daughter of Andrew Carnegie due to inherit $400M. Bankers began offering her high interest loans up to $1 million letting it compound and she amassed loan debts of $2-20 million worth ~$60-600 million today. womeninhistoryohio.com/ca…
Although the highest grossing film of 1963, β€œCleopatra" was the most expensive movie ever made and nearly bankrupted 20th Century Fox. To recoup its debt, Fox sold 180 acres of its backlot to developer William Zeckendorf and Alcoa, thus giving birth to Century City that we know today. en.wikipedia.org/wiki/Cen…
UK paying off 1700s war debt in 2015. Also WW1... bbc.com/news/business-303…
Today I learned of Johatsu. A Japanese phenomenon where due to failed marriage, mounting debt, loss of work, failure etc, people just simply abandon everything and walk away from their life, disappear to live life anonymously in an off the grid world.Companies too can "reset your life" businessinsider.com/evapo…
In Germany, when a kid becomes an adult at age 18, it can get rid of all its debt by offering its debtors everthing its owns at that point. The young adult is relieved from all other debts they can't pay back so that no young adult has to face a life in debt for things they did as teenager. gesetze-im-internet.de/en…
The U.S. refused to repay massive revolutionary war debts to France after Frances own revolution, claiming the debt was owed to the prior regime wikipedia.org/wiki/Quasi-…
During the Asian Financial Crisis many Koreans willingly gave up their precious jewelry, heirlooms and mementos in order to help their country pay off their debt to the IMF. en.wikipedia.org/wiki/Gol…
In the UK with the average funeral costing Β£3675 people are turning to loans, which has led to a "funeral debt" of Β£147m moneywise.co.uk/news/2016…
A Chinese man bought a corpse for 4,000 yuan and tried to fake his death in a car accident to avoid paying a debt. His scheme was found out after the body’s DNA did not match his family and it was discovered to belong to a woman. jqknews.com/news/146246-G…
Today I learned about debt "parking", where debt collectors can affect your credit score without having to ever notify you that you owe money. This most often happens with small medical bills. (page 11 on the pdf/ labeled page 8) nclc.org/images/pdf/pr-re…
1/3 of couples go into debt for their wedding with the average cost of $31K of a wedding in the US marketwatch.com/story/one…
An Italian enclave within Switzerland called Campione d'Italia used to live entirely from the proceeds of the local casino, which was Europe's largest, without the need for any other taxes or revenues - until it went bankrupt in 2018. Now the entire village is in debt & may become a ghost town. en.wikipedia.org/wiki/Cam…
When debt abolition became a hot-button issue, Julius Caesar borrowed a LOT of money and then announced it wouldn't be fair because he was both the richest and most indebted Roman. youtu.be/PDvriMq6r6I?t=56…
When the BankAmericard, later known as Visa, was first launched in Fresno, CA, they mailed out 60,000 unsolicited working credit cards. This resulted in rampant fraud and customers being held liable for the debts incurred on stolen cards. en.wikipedia.org/wiki/Vis…
Britain only finally settled its World War II debts to the US and Canada in December 2006 making payments of $83.25m (Β£42.5m) to the US and US$22.7m (Β£11.6m) to Canada.bbb news.bbc.co.uk/1/hi/uk/62…
At some point in 1847, the chief executioner of France informed the government that he was unable to carry out that day’s execution because he’d pawned the guillotine to pay off a debt and lacked the funds to buy it back theparisreview.org/blog/2…
Germany finally finished paying off debts from reparations required in the post-WWI Treaty of Versailles in 2010 - 92 years after the end of the war. en.wikipedia.org/wiki/Wor…
Germany has an extreme debt aversion with the German word for debt - 'schuld' - being the same as the German word for 'guilt bbc.co.uk/news/business-3…
Outside of France, Uruguay is the only country that can use the term "Champagne" freely. This is due to a debt that the French owed to Uruguay after WWII. All other countries must use the term "Sparkling Wine" when selling this kind of product. distritolujo.com/todo-el-…
Dionysius the Elder, Greek ruler of ancient Syracuse ran up massive debts; so Dionysius ordered all citizens (under penalty of death) to turn in all their money (drachmas) Once all the drachmas were collected he simply re-stamped each one drachma coin as two drachmas and paid his debt historytoday.com/matthew-…
Today I learned of MMM, one of the largest Ponzi schemes in history. Born in Russia 1992 it was busted by police in 1995. With the bust the share value fell from 115k Rubles to 1k and between 5-10 million people lost their saving. MMM resulted with between 50 million to 1.5 Billion USD in debt to the investors en.wikipedia.org/wiki/MMM…
β€œPretty Boy” Floyd, one of America’s most notorious bank robbers, on bank heists, he was known for destroying mortgage papers, consequently freeing hundreds of people from property debt en.wikipedia.org/wiki/Pre…
In 2018 69% of college graduates took out loans, amounting to over 1.56 Trillion dollars in debt. studentloanhero.com/stude…
Sir James Dyson started his vacuum company in his 40’s when he had three young kids and was in debt by putting up his home as collateral on a loan and now owns 100% of his company and has a personal net worth of over 7 billion dollars! npr.org/templates/transcr…
Mike Tyson declared bankruptcy in the year 2003 despite having earned over $300 million throughout his boxing career - he had $23 million in debt en.wikipedia.org/wiki/Mik…
Jean-Pierre Van Rossem, Belgian scam artist and self-proclaimed stock market guru, scammed even the Belgian royal family with his money-making system 'Moneytron'. He got very wealthy but later had to sell everything he owned to pay his debts. en.wikipedia.org/wiki/Jea…
Even though the city of St. Louis lost its NFL team, the city is still paying off the debt from the construction of the stadium. reuters.com/article/us-sp…
The flag of Bikini Atoll closely resembles the USA. It is a symbolic reminder of islanders' belief that a debt is owed by USA to their people, because the US government detonated the Castle Bravo hydrogen bomb on the island in 1954. en.wikipedia.org/wiki/Fla…
Thomas Jefferson died in debt to the tune of what would be today between $1 million and $2 million. monticello.org/site/resea…
In the now-defunct Star Wars Expanded Universe, Chewbacca owes a life-debt to Han Solo because Han refused an order from the Imperial Navy to skin the Wookiee as punishment for commandeering a ship full of slaves. Han is dishonorably discharged for his insubordination. en.wikipedia.org/wiki/Han…
Britain incurred so much debt fighting World War II that it didn't make its final loan payment until 2006. nytimes.com/2006/12/28/bu…
Ken Ilgunas lived in a van for two years while obtaining his graduate degree at Duke to avoid debt. This is also known as β€œvandwelling”. His advice for β€œvandwellers” is don’t drink any liquid before going to bed, come to terms with celibacy, look normal, ensure stealth, and bring essentials. business.time.com/2013/06…
Supercars are often abandoned in Dubai thanks strict debt laws. The cars are "left by expatriates and locals alike who flee in a hurry because they face crippling debts... hopping on the next flight out of there, never to return." messynessychic.com/2013/0…
Today I learned of the biblical practice of shmita - every seven years, farmland would be left fallow. Any crops that grew were free for the taking by all, and all debts were negated. en.wikipedia.org/wiki/shm…
UK Banknotes issued by the Bank of Scotland are not considered legal "tender," not even in Scotland (though they are considered "currency.") Legally, if you offer to pay a debt with a Bank of Scotland note, the debtor does not have to accept it as payment. scotbanks.org.uk/banknote…
Senior citizens are the fastest-growing student debtors in US and owe more than $67 billion in student debt. aarp.org/money/credit-loa…
In 1968 The Who were on the verge of breaking up after the single "Dogs" failed to hit the Top 20 and their instrument smashing kept them in debt. However, Pete Townshend had the idea of the album "Tommy", and the group decided to make it. en.wikipedia.org/wiki/Tom…
The drug lord Pablo Escobar offered to pay off Columbia's $20 billion foreign debt in order to avoid extradition to the US. aljazeera.com/indepth/fea…
Pretty Boy Floyd, a bank robber in the 1920's, would destroy mortgage documents during robberies, which freed many citizens of their debts. en.m.wikipedia.org/wiki/P…
K-Pop exists, in large part, because the SK government needed revenue to pay off its debt to the IMF seoulbeats.com/2015/05/ha…
The UK only finished paying off its WW2 war debt in 2006 and for WW1 even later - 2015. bbc.co.uk/news/business-3…
Today I learned of the Native American "Shame Pole", a totem pole erected to embarrass people for not payment of debts or ridicule misdeeds. In 2007 one such pole was erected in Alaska depicting the CEO of Exxon to highlight an unpaid debt of $5m owed from the Exxon Valdez oil spill. en.wikipedia.org/wiki/Tot…
A man used his friends bank to cash millions in bad checks and after being caught used what he had left to play blackjack at 30k per hand making up to 8.6 million (enough to pay off the debt and live a millionaire) only to lose it all. nbcnews.com/id/14187516/n…
1835 was the only time in U.S. history when the country was debt free, when Andrew Jackson paid off what he called "the national curse". It lasted exactly one year. npr.org/blogs/money/2011/…
Photographer Mathew Brady captured over 7000 photos of the US Civil War (including the portrait of Lincoln that would be used for the $5 bill), which have become the most important visual documentation of the period. He died in debt after the US gov't did not buy his master-copies after the war. en.wikipedia.org/wiki/Mat…
The largest bank failure was Washington Mutual with total assets under management of $328 billion, it was sold (minus unsecured debt and equity claims) to JPMorgan Chase for $1.9 billion en.wikipedia.org/wiki/Was…
We are required to accept cash β€œfor all debts public and private”. Businesses can only refuse cash if they require payment before the service or merchandise is provided. Customers don’t owe the business a debt, until the service or merchandise is provided. theconversation.com/if-ca…
The University of Alabama’s football program is $225,000,000 in debt. bloomberg.com/news/featur…
There's a strong correlation between people who buy bird seed and people who usually pay their debts. Inversely, people who buy chrome accessories for their car tend to not pay their debts in full. marketplace.org/topics/bu…
The 1911 obituary of American millionaire Frank Work contained his rant against the arranged marriages of American heiresses to British noblemen for dowry. He thought it should be a 'hanging offence' - the waste of American money paying off private debts in exchange for aristocratic titles. smithsonianmag.com/histor…
Iqbal Masih was sold into bondage by his debt-ridden family aged four and escaped when he was 10, after which he went to school and helped 3,000 other Pakistani children escape bonded labor. A symbol of child labor in the developing world, he was shot and killed in 1995, aged only 12. en.wikipedia.org/wiki/Iqb…
The U.S. Department of the Treasury accepts donations to reduce the U.S. debt, and that people actually donate treasurydirect.gov/govt/r…
Willie Nelson released an album in 1992 specifically made to pay off his debts to the IRS, entitled 'The IRS Tapes: Who'll Buy My Memories?' en.wikipedia.org/wiki/The…
John Hancock was once Harvard’s treasurer but refused to pay any of the school’s debts or leave his positionβ€”throwing the school’s finances into disarray. massar.org/2013/09/03/joh…
If you have no debts and $10 in your pocket, you have more wealth than 25% of Americans forbes.com/sites/timworst…
Under the Fair Debt Collection Practices Act (FDCPA) there is a federal law prohibiting collection agencies from calling before 8 a.m. or after 9 p.m. without express permission to do so. investopedia.com/terms/f/…
The Venezuelan Crisis of 1902–1903 began when president Cipriano Castro refused to pay Venezuela's foreign debt, causing Great Britain, Germany and Italy to impose a naval blockade. All parties eventually came to an agreement with the help of U.S. pressure. en.wikipedia.org/wiki/Ven…
One proposed solution to the US debt ceiling crisis of 2012 was the minting of a 1 trillion dollar coin that would be used to pay off the country's debt. en.wikipedia.org/wiki/Tri…
Many words used to be spelled phonetically (e.g. debt was 'det') until some scholars purposely added silent letters to make them look more like Greek or Latin words, sometimes erroneously. en.wikipedia.org/wiki/Eng…
A study found that people who reported higher levels of stress about their debt showed higher levels of physical impairment and also reported worse health than those with lower levels of debt. news.osu.edu/high-credit-…
The third Monday in January is typically considered to be β€˜Blue Monday’, allegedly the most depressing day of the year. Factors contributing to this theory include: debt, miserable weather, post-Christmas blues, failing New Year’s resolutions and low motivation. content.time.com/time/bus…
Massachusetts is the only state that requires businesses to accept cash for goods and services. Businesses in all other states are allowed to refuse cash payments, except in the case of paying debts. culinarylore.com/dining:i…
174 million Americans own an average of 2 credit cards each carrying an estimated debt of almost $16,000 per person. Total American credit card debt is estimated to be about $729 billion dollars. creditcage.com/blog/ameri…
Today I learned of the Servicemembers’ Civil Relief Act. While in active duty military, you can submit a request to your credit card lenders to lower your interest rate to a maximum of 6%, and they are required by law to comply. This applies to debt incurred before joining as well. nerdwallet.com/blog/credi…
Lehman Brothers had the biggest bankrupcy in US history, with their $639 billion of assets stacked up against $768 billion of total bank and bond debt. en.wikipedia.org/wiki/Leh…
Bono was campaigning to have first-world taxpayers forgive all third world debt whilst hiding U2s earnings from Irish tax collectors in the Netherlands. stubpass.com/concerts/u2-…
Lifetime's highest-rated quiz show, "Debt" hosted by Wink Martindale, was canceled in 1998 because more men than women were watching the show en.wikipedia.org/wiki/Win…

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