World debt and currency reset - page 2.

SvonioneFromMangoCoinz

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Quote from: Polo7 on November 17, 2019, 02:44:02 PM

What the Governments do about that?

Do you think they can just wipe off the debt..

Let's Say people own debt what they cant repay so the government can just restart everything all over again people debts will be just deleted and everything will start again?

What You think what the government will do Around the world?

Are they gona replace the currency with other currency?

They will let the economy to fall Down

They will restart the whole system and nobody have no debts at all.

restarting the system is completely impossible and we still have to repay every year with the tax collected. But that public debt will gradually be paid off if the country grows well every year and people pay honest taxes. otherwise, those countries will be exposed to large debts and the country will sink into economic crisis or inflation up to millions of percent, just like Venezuela is.

Polo7

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Quote from: mersal on November 21, 2019, 02:15:52 AM

If all the governments in this world are in debt then where is that money come from?

Who the hell are those banks? How they possible to make so much money and make people to be in debt.

If we reach one stage that all fiat currency value if going to be none then there will be no more new fiat because we already found the decentralized money.

Without debt the Money have no value!
The bigger is the debt the bigger is fiat currency value!
If Everybody is in debt Everybody will looking for Money to pay debt.
But only few will have the Money!

mersal

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If all the governments in this world are in debt then where is that money come from?

Who the hell are those banks? How they possible to make so much money and make people to be in debt.

If we reach one stage that all fiat currency value if going to be none then there will be no more new fiat because we already found the decentralized money.

Polo7

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Quote from: Silberman on November 20, 2019, 03:57:56 PM

Quote from: Polo7 on November 17, 2019, 02:44:02 PM

What the Governments do about that?

Do you think they can just wipe off the debt..

Let's Say people own debt what they cant repay so the government can just restart everything all over again people debts will be just deleted and everything will start again?

What You think what the government will do Around the world?

Are they gona replace the currency with other currency?

They will let the economy to fall Down

They will restart the whole system and nobody have no debts at all.

Governments will forgive each other debts but they will never forgive the debts of the people since the whole point of a fiat currency and fractional reserve banking is to get people indebted so they do not really have any option but to keep working for the rest of their lives, and not only that people have accepted to use their money in a very inefficient way by being indebted all the time, a person that refused to be indebted will enjoy a better quality of life and obviously banks do not want them to know that.

Well said! That's true!

Silberman

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Quote from: Polo7 on November 17, 2019, 02:44:02 PM

What the Governments do about that?

Do you think they can just wipe off the debt..

Let's Say people own debt what they cant repay so the government can just restart everything all over again people debts will be just deleted and everything will start again?

What You think what the government will do Around the world?

Are they gona replace the currency with other currency?

They will let the economy to fall Down

They will restart the whole system and nobody have no debts at all.

Governments will forgive each other debts but they will never forgive the debts of the people since the whole point of a fiat currency and fractional reserve banking is to get people indebted so they do not really have any option but to keep working for the rest of their lives, and not only that people have accepted to use their money in a very inefficient way by being indebted all the time, a person that refused to be indebted will enjoy a better quality of life and obviously banks do not want them to know that.

Polo7

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Bankers and elite not interested Money!
They will print it anyways as much They Want!

But what they are interested is that, the people working dont ask questions!
That's how they make passive income, so they are investing into infrastructures to create and maintain the jobs and workers.

So what their main intetests are is news and media and controlling the workers union.

They dont Care about Finances and wealth...
They dont Care about crypto either!
Crypto and investing field is just Good to Take funds from crypto stock and all kind of investors and there for to secure their Financial stability to be destroyed and then They have cheap Labour and people who is in debt.
And If You are in debt You work with lower wage coz u got no other option so the debt is created just to make sure Good workers never rise Up and working with low wages.
But They are not interested about profit they are intetested just that people will Work with low wages and just keep working and Producing.

So That's why is pyrocraty and Everybody needs some licenses and a lot Paper work to destroy small Enterprise'i business sectors.

Xxmodded

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Quote from: yoseph on November 19, 2019, 08:41:25 AM

Governments can actually do whatever that they want, the can decide to forgive bad debts and even redenominate their entire currency whenever that they want. Because they control the central bank of their respective countries. Take a look at the economy of Zimbabwe which is in tatters because of poor economy management. They had to redenominate their currency just to prevent people carrying a bus load of money just to buy bread.

Government looks not serious with crypto world because have big risk if legal using digital currency payment, how come if their people buy bitcoin with higher price and suddenly drop to lower maybe many people will fault government why have to legal using bitcoin as transaction payment, with bitcoin price can't control and stable make government still illegal using bitcoin as currency.

agentx44

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Quote from: Polo7 on November 17, 2019, 02:44:02 PM

What the Governments do about that?

Do you think they can just wipe off the debt..

Let's Say people own debt what they cant repay so the government can just restart everything all over again people debts will be just deleted and everything will start again?

What You think what the government will do Around the world?

Are they gona replace the currency with other currency?

They will let the economy to fall Down

They will restart the whole system and nobody have no debts at all.

The world system is currently in crisis. The environment is getting destroyed and natural resources are being abused leading to shortage which will surely end up resulting into famine. If the governments of different nations are just going to sit and act blind, our world will soon meet its end. The proposal of having cryptocurrency as an official monetary mean for all the people can be a tool to save the world from drowning. It may be theoretical but we will never know what will happen if we are not going to try.

el kaka22

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I think the best case scenario would be the the jailing of the huge banks with debts. Now you may think "how can you jail a bank" but the paper work is always there, whoever had their say in getting more and more debt and being in so much risk should be jailed. Do you know how horrible our economic system right now? Even after 2008? Banks are trying to make more and more money while getting it with more and more risks once again like they never learnt anything from 2008.

Well they did learned something, they learned that even when they do horrible stuff they are actually untouchable because government doesn't know what to do and that is why they can lose as much money as possible and if they ever go bankrupt the government will save them. If we jailed all the important figure heads during 2008 that caused it, everyone would have been more careful today.

1Referee

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Quote from: bitsurfer2014 on November 17, 2019, 09:50:57 PM

Absolutely! It would be better if Bitcoin's advantages will be recognized and be allowed to grow with confidence among non crypto people though I think a decade will not be enough to achieve optimum adoption. Imho.

The good thing about Bitcoin is that it combines money with tech in a completely new and exciting fashion, and let the younger generation be a tech generation. In that regard, the rate of adoption will be exponentially bigger and faster for Bitcoin than it has been with previous forms of money. But you might be right that a decade isn't enough.

I just want Bitcoin to take over, regardless of how long it takes, and with governments continuously making horrible financial decisions, they only make it easier for Bitcoin to do so. Grin

yoseph

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Governments can actually do whatever that they want, the can decide to forgive bad debts and even redenominate their entire currency whenever that they want. Because they control the central bank of their respective countries. Take a look at the economy of Zimbabwe which is in tatters because of poor economy management. They had to redenominate their currency just to prevent people carrying a bus load of money just to buy bread.

supercanada1

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Quote from: gabmen on November 18, 2019, 11:40:48 AM

Quote from: Kprawn on November 18, 2019, 11:21:21 AM

A lot of countries have had their debt written off or debt cancelled by the World Bank, just like some companies write off people's debt when it

becomes clear that those people would not be able to pay back the debt. In some instances this come with some sort of asset transfer agreement,

but in most instances this happens with no requirements. Example : https://www.theguardian.com/politics/2005/jun/11/uk.g8 These countries will

then offer some tax incentives for these countries or Banks to operate in those affected countries. (Less import duties etc.) This is how 1st world

countries get there claws into poorer countries, because they get leverage to broker other deals that would favor them in the future. Angry

Just goes to show how the world is run by bankers more than governments. It's impossible to reset a country's debts since that's how the people in power take control. I'm just curious as to how ended up with this kind of system and where exactly is the point where this started. Like how did the countries start accumulating debts in the first place.

When they have the solution for this problem, they just need to avail it. The millennial generation has internet. They can find a lot of ways to make money by going online and searching on google. Even after having bitcoin, if these people are still facing economical problems, then it is due to lack of their own knowledge. If they will earn bitcoin, all debts and financial crisis will get resolved.

Hallmader

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Quote from: Google+ on November 18, 2019, 12:56:20 AM

Quote from: Hallmader on November 17, 2019, 11:01:11 PM

There were cases of huge national debts that were totally scrapped. That is one thing that we should not be seeing. That implies one most important thing, that the fiat system is perfect in its imperfection and is not reliable at all. The system is as flawed as it is being ruled by people whose subjective decisions will put other people or countries at the cruel end of poverty while the others live a decent life. And only for what? Only for their decisions about a certain fiat which has no actual value in truth.

Such cases should not be easy to erase because they will not have any responsibility at all, it is better than any debt must be resolved fairly, the system is not instantly able to be good, only all the systems used can still be revised and carried out evaluation so that it can create a strong system and no more disability. such a process must be gone through and is mandatory because it can later provide a powerful system.

If I can still remember it right when this kind of topic was discussed during my student days, offers to totally scrap off a certain country's debt is for those countries that have just attained democracy. This is the transition phase from a dictatorial or totalitarian phase into a democratic phase. For these countries to be able to start from scratch clean and not from the remnants of the old regimes, they have the option to accept the offer and develop their economy from there.

airdnasxela

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It's like part of a country to have debts. Almost or all every country have debt to other countries. Even developed countries have debts. But that doesn't mean they have to reser the currency just to remove all debts. As far as I know, a country is continuously paying its debt but that don't conclude that they'll be on financial crisis.
If the world we're going to reset the currency to remove all debts, we will still end up with debts with that new currency so I guess we cannot escape debt.

electronicash

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Quote from: gabmen on November 18, 2019, 11:40:48 AM

Quote from: Kprawn on November 18, 2019, 11:21:21 AM

A lot of countries have had their debt written off or debt cancelled by the World Bank, just like some companies write off people's debt when it

becomes clear that those people would not be able to pay back the debt. In some instances this come with some sort of asset transfer agreement,

but in most instances this happens with no requirements. Example : https://www.theguardian.com/politics/2005/jun/11/uk.g8 These countries will

then offer some tax incentives for these countries or Banks to operate in those affected countries. (Less import duties etc.) This is how 1st world

countries get there claws into poorer countries, because they get leverage to broker other deals that would favor them in the future. Angry

Just goes to show how the world is run by bankers more than governments. It's impossible to reset a country's debts since that's how the people in power take control. I'm just curious as to how ended up with this kind of system and where exactly is the point where this started. Like how did the countries start accumulating debts in the first place.

a country can always have money, they can collect tax from their citizens without even returning a good projects for the benefit of the people. governments are there to govern the society, they pay police/military men to protect citizens and they need to collect funds for that. countries who will venture to give benefits to their fellow men will develop projects which they ask funds from neighboring countries and normally the conditions are not for public reading but certainly these will have interest and if defaults will have corresponding sanctions.

Japan is a rich country and will fund projects in Philippines but this fund will be sort of a debt and will have interest and also the raw products must come from Japan as well as it will be on the contract. That's how they make demands for the JPY too making their economy better while enriching thru interest and selling their products. That's how countries get to have debts, you can relate this to procurement.

Mometaskers

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That's pretty rare and don't know anyone who was a beneficiary. Heck even country's can't just escape their debts. Look at Greece, it's been in debt ever since it became independent. They'll just get the next government to pay it. If they weren't completely responsible for installing one that promise to pay them back.

On the individual level the only "debt forgiveness" I've seen at least in my country are for taxes. Basically they just tell you that they are willing to forgive part of the interest on tax you missed as long as you finally pay them.

Quote from: mu_enrico on November 18, 2019, 03:08:53 AM

Debt is not all bad. For example, if you own a company, you will always have debts for multiple activities, e.g., investing activities, operational activities, etc. A company might have short term debts for raw materials provided by its suppliers at some point. Hence, if the mentioned company goes default, the effect would spread to other companies. There's no such thing as wiping out the debts or "reset," if not all the affected parties can all agree with it.

Unfortunately today people get in debt for things that don't allow them to get any profit out off. I'm seeing issues about student debts in the US and I think it's unfair for responsible people that have already paid up their's that they'll end up having to pay for those that got vanity courses like gender studies who can't maintain a job to pay their debts.

gabmen

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Quote from: Kprawn on November 18, 2019, 11:21:21 AM

A lot of countries have had their debt written off or debt cancelled by the World Bank, just like some companies write off people's debt when it

becomes clear that those people would not be able to pay back the debt. In some instances this come with some sort of asset transfer agreement,

but in most instances this happens with no requirements. Example : https://www.theguardian.com/politics/2005/jun/11/uk.g8 These countries will

then offer some tax incentives for these countries or Banks to operate in those affected countries. (Less import duties etc.) This is how 1st world

countries get there claws into poorer countries, because they get leverage to broker other deals that would favor them in the future. Angry

Just goes to show how the world is run by bankers more than governments. It's impossible to reset a country's debts since that's how the people in power take control. I'm just curious as to how ended up with this kind of system and where exactly is the point where this started. Like how did the countries start accumulating debts in the first place.

Kprawn

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A lot of countries have had their debt written off or debt cancelled by the World Bank, just like some companies write off people's debt when it

becomes clear that those people would not be able to pay back the debt. In some instances this come with some sort of asset transfer agreement,

but in most instances this happens with no requirements. Example : https://www.theguardian.com/politics/2005/jun/11/uk.g8 These countries will

then offer some tax incentives for these countries or Banks to operate in those affected countries. (Less import duties etc.) This is how 1st world

countries get there claws into poorer countries, because they get leverage to broker other deals that would favor them in the future. Angry

Dart18

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Imagine your currency having exaggerated less value.
Like for 1 USD you will need 1 million of your currency.
Now, before you got 2 million debt in your bank with your currency.
You will just need to pay 2 USD to fill that debt and voila you are free.

That will be the case if your economy suddenly went down specially in the financial region. It can happen.

AniviaBtc

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Quote from: palle11 on November 17, 2019, 03:00:59 PM

Quote from: Polo7 on November 17, 2019, 02:44:02 PM

They will restart the whole system and nobody have no debts at all.

There is possibility for that. There is what is called debt forgiveness. The government do that sometimes to its
states when it is obvious that the debt is too much or sometimes, some part of the debts are cancelled.

That is very impossible to happen, there's a lot of factor to consider before the government to take actions in that kind of situation. Yes, debts are also important but that's the purpose why people work hard just to earn money. They value money so much that they can sacrifice their time and effort just to earn money.

They can't reset everything for the fresh start, imagine people living without debt and restarting themselves. It is very hard and unfair to many.

Government should think of another solution to that economic issue. Not just a careless action that can harm many people.

Topic: World debt and currency reset - page 2. (Read 752 times)