Sell national debt to fund projects
THE movie 'Rogue Trader' in which Nick Leeson took down prestigious Barings Bank may not be the industry's showcase presentation of best practice, but it offers a fascinating insight into what can happen when futures trading is built on phantom contracts and the "client" is actually the bank itself.
So what would happen if we were to speculate with the burden of debt around the country's neck at the moment?
Debt can be sold, can it not? Would wealthy individuals, investment bankers or even the IMF be able to "invest" in major infrastructural projects in which the country's debt would be "sold" and also partially offset by shares in the proposed project?