I mean, why make people pay them back at all? There’s only $1.4 trillion of credit card debt outstanding in the US, which is nothing compared to the Fed’s open market operations right now. Just have the Fed print that money and retire everyone’s debt! And after that, the Fed can pay their rent, pay off their student loans, medical bills, auto loans. And then we can all be a bunch of fucking hippies trading sea shells for weed.
I can’t believe no one has worked out this magical wormhole in monetary policy before. Who knew a cold virus could be the solution to all of our problems?