Hello all!
I was just doing some research in an attempt to narrow down some very broad topics to write about to a singular topic that is much narrower, and in my research (still pending original source at this stage), I remembered this little factor, and how it really highlights the need to reanchor the worlds production to a non-manipulatable, global digital currency like DNotes. The following is truly harrowing if you understand the true potential effects of default and economic collapse. Nobody here has seen a true 'recession' in their lifetime because all the previous ones were deferred with the printing of more money and bank credit expansion.
"It is Mathematically Impossible To Pay Off All Of Our Debt..."
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http://www.zerohedge.com/news/2015-05-22/it-mathematically-impossible-pay-all-our-debtNow this much should be obvious to anybody who understands that money is created as debt, and all debt accrues interest that must come from somewhere, ergo... more debt must be created BUT!
The USA is in a position where even if you took all of the different forms of money: savings, cash, chequeable balances, mutual deposits, money market funds, short-term repurchase agreements... Basically ANY piece of US money that EVER existed... and used it to pay the Government debt, there would still be government debt outstanding... To put it further into perspective, the US government debt is circa 18 Trillion, all the money that every existed is ~17 Trillion, that doesn't take into account non-financial and household debt, which brings the total to 41.4 Trillion. Then think that the 18 Trillion figure for government debt doesn't even take into account unfunded liabilities (promises to pay in the future - medicare, medicaid etc), the total government debt balloons to ~115 Trillion + household debt (14 Trillion) and non-profit debt (12 Trillion) for a whopping total of: 141 Trillion dollars.
17 Trillion dollars of money (in its loosest definition - 3 Trillion exists in actual liquid money) to somehow repay 141 Trillion...
The Rubicon has been crossed...
Luckily non-government programs like CRISP plans may work to alleviate some of this potential economic pain - a remarkable nod to foresight. Retirement plans offer saving rewards for many of us who won't retire with benefits like medicare and state pensions, students crypto investment and giveaways to combat student debt, trust funds to encourage saving for your child's future early etc. These are all essential components of a globally accepted digital currency, and they have been rolled out in pilot before global currency status has been earned, which allow people to purchase DNotes cheaply and participate in these investments early when they're most lucrative. I call that a great buying opportunity.
There was also one comment on the page that summed up my views quite nicely:
"The American government has been spending trillions of dollars on programs it had no Constitutional authority to create, and such unconstitutional expenditures exceed the amount of the federal debt. Therefore,
The federal debt is unconstitutional.Not only are most government programs themselves unconstitutional, but the debt used to pay for these unconstitutional programs, which were created by previous taxpayers, is paid for by future taxpayers. Therefore,
The federal debt is Taxation without Representation.Taxation without representation is also unconstitutional. In fact, it is the reason America seceded from the British empire."
after years of blindly trusting the government, ignoring politics this is eye-opening to me. How could the people we trust and depend on to make decisions for us all be SO IRRESPONSIBLE???
That is an excellent question Kris, and its answer is not whatsoever comforting. I've actually just been jotting down random paragraphs in a primeordial soup of having no-idea-what-i'm-doing for an article, you see, the topics I want to write about are so complex that they are difficult to write about succinctly without feeling I've given enough information to provide logical "proof" of what I'm saying. That said, here are a couple of paragraphs I've jotted down that I plan to insert in any number of the 4/5 articles I'm planning (the hard part is deciding on which focus for which article for which set of information), but Government debt and the affect politics has on money is one of them.
I'll gladly take comment, these draft paragraphs I'm thinking can be on a topic called
"Greece is not unique" then discuss how politics and fiat currency are intertwined in a manner that can never truly serve the public interest, then finish with comparisons to how crypto-currencies have the potential to remove irresponsible fiscal decisions from bureaucrats, and placing them back into the people that use money - the public - to avoid the situations in the future. I'll lay out a few potential logical progressions also for comment in brackets.
[sic] "After the latest round of Greek financial crises, government debt and currency stability have come to the forefront of mainstream political discourse. Despite the media attention to the Greek government's debt and banking problems, their situation is not unique. According to Global Research, there are no less than 24 countries facing debt crises including the likes of Ireland, Spain and Portugal, and 14 more rapidly heading towards one. The report also claims that world debt to global GDP is at an all time high of 286 percent. The real kicker is that nobody seems to know ‘who’ all this money is ‘owed’ to. (Let's be fair, I'll remove that last sentence)
It is easy to think that debt doesn't affect us personally, after all it doesn't show on any single individual's balance sheet, but the national debt has a profound affect on everybody. Politicians promise a large variety of ‘free-stuff’ to get elected, and this ‘free-stuff’ always needs to be paid for by somebody. Politicians have relatively short terms in office, which makes debt financing for current election promises unduly attractive; tax increases are unpopular and staving them off until once they're out of office could ensure re-election. This system is highly profitable for politicians - they wine and dine with the worlds elite and make big salaries, and the impending recession won't be remembered as happen in their care."
[100 words briefly detailing 2 or 3 mechanisms government uses to 'stabilize' / continue the status quo]
[Eventually consumer and creditor confidence is lost]
[Government requires further investment to continue to debt fund and the likelihood of default increases, the states bonds are no longer attractive to investors, so the state then must lift the interest rate]
[This further exacerbates the problem, government is further in debt, and the interest payment rate is even higher - takes away from frontline social services]
[Government eventually must turn to austerity measures - hurts the poor the most]
[All this is made possible through fiat money creation and banking credit expansion, the money supply is not anchored to a fixed commodity like gold, or an un-manipulatable algorithmic cryptocurrency]
Ergo,
[Debt financing is enabled by fiat currency]
[A global digital currency, or one accepted for trade everywhere can remove the politics from money, and puts power back into those who use money rather than those who want to decide on our behalf meaning no leveraged lending to ridiculous levels, restrained spending. A globally accepted digital currency provides people worldwide with an option to keep their savings in a globally stable crypto and use it locally along with state currency which protects peoples savings from regional political turmoil.]
[help]
It's very important for DCEBrief to maintain a positive outlook in its articles, but there is no better way I think to communicate the problems with fiat in a manner that would 'sway' the average person to crypto than a 'without filter' explanation, then showing logical proof that cryptocurrency is the future of safe, secure and stable currency. It is also a MASSIVE topic to write about, probably requires no less than 5 separate articles...
"What is wrong with our money?" [and why global crypto is better]
"Bank Chain or Global Digital Currency?" [Compare / Constrast]
"It's 4:30am and I should go to bed" [Goes to bed].
