b) "kiting a cheque," and then giving that (illusory) "money" to the debtor. However, our governments have never claimed/admitted doing either one of those things. Here is what our governments are telling us. They claim to have "bailed out" these insolvent debtors (starting with Greece) by lending them more money. Again, as an elementary premise of arithmetic/logic, it is impossible to "bail out" an insolvent debtor by lending that debtor more money. Not only does it make the insolvent debtor even more insolvent; it instantly turns that debt-market into an open Ponzi-scheme. Only ever-increasing quantities of new loans can delay implosion, and the longer the Ponzi-scheme is perpetuated the more damaging/devastating the ultimate collapse must become.