$18 trillion in debt. $18 trillion is a lot of money... - page 2.

neurotypical

hero member

Activity: 672

Merit: 502

Quote from: Razick on March 23, 2015, 07:10:42 PM

Quote from: funtotry on March 23, 2015, 06:56:45 PM

Quote from: Razick on March 23, 2015, 06:50:43 PM

Quote from: funtotry on March 23, 2015, 06:07:19 PM

I think that soon the dollar will collapse. Call me crazy but the debt is growing to a massive size and banks only actually own less than 10% of what they hold. If everyone withdraws at the same time, banks would not be able to pay them out and therefore would have to file bankrupts and close, even if they say they have 10 billion dollars, they don't actually have that much. its called fractional reserve banking.

Everyone doesn't withdraw at the same time, it's called synchronization. Banks have been operating for centuries at far lower reserve rates. There have been banking collapses but no dollar collapses during that time. Between higher reserve requirements and the FDIC, a bank run on the scale of the one that caused the Great Depression is unlikely.

Yes of course everyone doesn't withdraw at the same time, but if they did the bank would not be able to pay them all out and that is a fact. I think that something soon in the next 10 years will have some big change with the government, maybe a large default or a massive change.

The fact that banks do not hold all deposits on hand is a known fact, and something you explicitly agree to when making a deposit. Half this forum seems to miss the fact that banks are private businesses with which you voluntarily deposit money. They even pay you to do it.

Yeah what happened in spain recently last week should be a reminder of how banks aren't any safer than your average Bitcoin exchange, but the diferenec is we can be our own banks with Bitcoin, we have that options, this is why it's SO obvious to me and anyone with half a brain for a broad vision of were we are at today and were we are headed to, of how Bitcoin is going to play a main role in the future and how the price is insanely cheap today.

Script

full member

Activity: 263

Merit: 100

Quote

$223.3 trillion: The total indebtedness of the world, including all parts of the public and private sectors, amounting to 313% of global gross domestic product. Advanced economies tend to draw attention for their debt at the government and household levels.

[Suspicious link removed]j.com/economics/2013/05/11/number-of-the-week-total-world-debt-load-at-313-of-gdp/

Maybe we owe all this money to our reptilian overlords from Mars...

Razick

legendary

Activity: 1330

Merit: 1003

Quote from: funtotry on March 23, 2015, 06:56:45 PM

Quote from: Razick on March 23, 2015, 06:50:43 PM

Quote from: funtotry on March 23, 2015, 06:07:19 PM

I think that soon the dollar will collapse. Call me crazy but the debt is growing to a massive size and banks only actually own less than 10% of what they hold. If everyone withdraws at the same time, banks would not be able to pay them out and therefore would have to file bankrupts and close, even if they say they have 10 billion dollars, they don't actually have that much. its called fractional reserve banking.

Everyone doesn't withdraw at the same time, it's called synchronization. Banks have been operating for centuries at far lower reserve rates. There have been banking collapses but no dollar collapses during that time. Between higher reserve requirements and the FDIC, a bank run on the scale of the one that caused the Great Depression is unlikely.

Yes of course everyone doesn't withdraw at the same time, but if they did the bank would not be able to pay them all out and that is a fact. I think that something soon in the next 10 years will have some big change with the government, maybe a large default or a massive change.

The fact that banks do not hold all deposits on hand is a known fact, and something you explicitly agree to when making a deposit. Half this forum seems to miss the fact that banks are private businesses with which you voluntarily deposit money. They even pay you to do it.

funtotry

sr. member

Activity: 420

Merit: 250

Ever wanted to run your own casino? PM me for info

Quote from: Razick on March 23, 2015, 06:50:43 PM

Quote from: funtotry on March 23, 2015, 06:07:19 PM

I think that soon the dollar will collapse. Call me crazy but the debt is growing to a massive size and banks only actually own less than 10% of what they hold. If everyone withdraws at the same time, banks would not be able to pay them out and therefore would have to file bankrupts and close, even if they say they have 10 billion dollars, they don't actually have that much. its called fractional reserve banking.

Everyone doesn't withdraw at the same time, it's called synchronization. Banks have been operating for centuries at far lower reserve rates. There have been banking collapses but no dollar collapses during that time. Between higher reserve requirements and the FDIC, a bank run on the scale of the one that caused the Great Depression is unlikely.

Yes of course everyone doesn't withdraw at the same time, but if they did the bank would not be able to pay them all out and that is a fact. I think that something soon in the next 10 years will have some big change with the government, maybe a large default or a massive change.

Razick

legendary

Activity: 1330

Merit: 1003

Quote from: funtotry on March 23, 2015, 06:07:19 PM

I think that soon the dollar will collapse. Call me crazy but the debt is growing to a massive size and banks only actually own less than 10% of what they hold. If everyone withdraws at the same time, banks would not be able to pay them out and therefore would have to file bankrupts and close, even if they say they have 10 billion dollars, they don't actually have that much. its called fractional reserve banking.

Everyone doesn't withdraw at the same time, it's called synchronization. Banks have been operating for centuries at far lower reserve rates. There have been banking collapses but no dollar collapses during that time. Between higher reserve requirements and the FDIC, a bank run on the scale of the one that caused the Great Depression is unlikely.

funtotry

sr. member

Activity: 420

Merit: 250

Ever wanted to run your own casino? PM me for info

I think that soon the dollar will collapse. Call me crazy but the debt is growing to a massive size and banks only actually own less than 10% of what they hold. If everyone withdraws at the same time, banks would not be able to pay them out and therefore would have to file bankrupts and close, even if they say they have 10 billion dollars, they don't actually have that much. its called fractional reserve banking.

fonenumba

full member

Activity: 411

Merit: 100

The $200 trillion figure is that of our unfunded liabilities for entitlements like Social Security and Medicare (and medicaid, and disability). It is most likely that these entitlements will be 'reformed' so that the government does not actually need to pay this amount - the amount paid will be less then the amount they have received in taxes.

Deficit spending is sometimes necessary, for example in times of war, the government needs to spend massive amounts of money and most wars cannot be funded with immediate tax revenue (the annual costs of the world wars were above the total tax receipts so taxes would have had to more then double in order to pay for wars as 'we go'). Also as long as the economy were to continue to grow, over the long term at a faster pace then then national debt were to rise then national debt would shrink as a percentage of the total economy which would not be an issue.

A good amount of the debt is from wartime spending as mentioned above. More recent sources of the massive amounts of the debt are from "stimulus spending" where the government simply spends $500,000 for each ~$40,000 new job that it creates (this is no joke)

Razick

legendary

Activity: 1330

Merit: 1003

Quote from: asuryan180 on March 23, 2015, 04:11:49 PM

The question that i first asked when i found out we owe so much, who do we owe the $18 trillion?

I think i am right saying we owe it to the private bank so called 'Federal Reserve' and that is the biggest scam of all, they print money then they loan it to the government at interest lol It is the trap that we have been born into and i really can't see a way out from it now, they hold to much power.

The money has just extended the gap between the haves and the have nots, it is a massive gap strangling the middle class into debt and destroying them soon it will be just the rich and the poor, the masters and the servants or i could have just watched to much tv Shocked

Well, the one bit of good news is that most of the U.S. national debt is owed to U.S. citizens (and their companies) who hold government bonds.

Lauda

legendary

Activity: 2674

Merit: 2965

Terminated.

Well the number is surprising. However you can only expect it to rise even further. I'm not really sure. This money will probably not going to ever get repaid. Where is it coming from? Is there no maximum in how much dept someone can have?

Quote from: OROBTC on March 23, 2015, 04:03:47 PM

We are subjected to huge scams like "global warming" (aka "climate change", etc.)

Wait what? You're saying that there is no global warming? This seems like another conspiracy theory.

asuryan180

hero member

Activity: 868

Merit: 1000

The question that i first asked when i found out we owe so much, who do we owe the $18 trillion?

I think i am right saying we owe it to the private bank so called 'Federal Reserve' and that is the biggest scam of all, they print money then they loan it to the government at interest lol It is the trap that we have been born into and i really can't see a way out from it now, they hold to much power.

The money has just extended the gap between the haves and the have nots, it is a massive gap strangling the middle class into debt and destroying them soon it will be just the rich and the poor, the masters and the servants or i could have just watched to much tv Shocked

OROBTC

legendary

Activity: 2912

Merit: 1852

...

We have $18 trillion (in "official national debt", and ~$200 trillion by other measures), and yet our country has more resentment and unhappiness that at any time I can remember.

What did we get for our money? I argue that we have LESS than if we had NO DEBT whatsoever.

We continue to have poverty (probably getting worse). We continue to have inequality (beyond question worse). We are subjected to huge scams like "global warming" (aka "climate change", etc.) and ObamaCare that mostly move money (via taxes and regulation) from the productive to cronies and scammers...

$18 trillion and we are worse off for it. And we are further than ever from having a country where everyone is wealthy. $18 trillion works out to some $55,000 for every man, woman and child in the USA... $55,000 (per person) is more than the net worth of at least 50% of our country.

Almost makes you want to avoid getting plucked anymore. Almost makes you want to Go Galt...

Got (other = even more) debt?

Got BTC? Got Au?

/rant

Topic: $18 trillion in debt. $18 trillion is a lot of money... - page 2. (Read 1722 times)