And in the end again the average person will be screwed and the banks will walk away with billions...
Watch the movies "Inside Job", its really good one.
Topic: World debt hits new record: good for BTC - page 3. (Read 642 times)
https://www.bloomberg.com/news/articles/2018-04-18/world-debt-hits-record-164-trillion-as-crisis-hangover-lingers
$164 trillion! That is an awfully big pile of money, but governments think it's not big enough. They keep on borrowing more every year. If there's no crash, it will be a miracle.
Pray God.
Or buy BTC!
I'm not entirely sure of the correlation.. although debt.. particularly nations debt is a subject that fascinated me but also confuses me. I don't think there will ever be some huge sway to crypto due to a mistrust in traditional finacial systems.
The world debt is increasing every year but actually, that is not becaise of the continuous lending or borrowing of money. It is in fact, because most borrowers tends to fail to pay the interest of their borrowed money, thus, it is being accumulated into a great sum of, well, debt. It is true the paper money is already losing its value. Tje only reason that our economy can still stand is because of the inflation and when this is over, we are going to need to look for another means of currency. That is where the relationship between the world debt and cryptocurrency's kicks in.
For a better understanding about this, you can read this article, http://www.businessinsider.com/deutsche-bank-end-of-fiat-money-2017-11?r=UK&IR=T .
For a better understanding about this, you can read this article, http://www.businessinsider.com/deutsche-bank-end-of-fiat-money-2017-11?r=UK&IR=T .
https://www.bloomberg.com/news/articles/2018-04-18/world-debt-hits-record-164-trillion-as-crisis-hangover-lingers
$164 trillion! That is an awfully big pile of money, but governments think it's not big enough. They keep on borrowing more every year. If there's no crash, it will be a miracle.
Pray God.
Or buy BTC!
$164 trillion! That is an awfully big pile of money, but governments think it's not big enough. They keep on borrowing more every year. If there's no crash, it will be a miracle.
Pray God.
Or buy BTC!
Wow
$164 Trillion is really a big number and i think things are going to worsen in coming years because the GDP is increasing at a rapid speed by almost 22.7% and we need to think on this issue of global economics. Even though Bitcoin and crypto market has nothing connected to it because it is decentralized and till now there is no governing body connected to it and In fact, i would see the cryptomarket growing side by side. But if there is a huge amount of participation in the crypto market and if the government plans to regulate and use the cryptomarket then the debt can decrease to a certain extent which is a good sign. 
Because you don't have instruments to controll the monetary system. Deflation can be way more harmfull then the inflation. It will completely kill the macro economy of the country. Economists have to struggle it.
Controlling the monetary system is very much a Bretton-woods invention. World economy had been running through the years when you did not have these 'monetary controls', albeit with crashes and depressions. Crashes still happen today. The problem is, economists have convinced themselves and the world that this model works the best. Even when there is an alternative emerging for the taking, they are more interested in disparaging it than actually informing the media and public about both sides. It's a battle of perception than a case of one being superior over other.A capped reserve gives much less wiggle room to central banks(like the Federal Reserve) forcing them, the Politicians and the Investment bankers on their management boards to actually do their job. While with an unlimited reserve, you can always "Quantitatively Ease" your way out of any fuck-up.
The real problem of US economy (as highly affects the global economy) is welfare. This is a huge beast and politicians still keep feeding it (and probably will continue doing it). Insane amounts of money are wasted for nothing. If anyone think that the current global economical system works bad then he can eliminate welfare before dealing with the other things.
Meanwhile market cap for all crypto still 0.36 trillion, and bitcoin 0.14 trillion.. what a gap!
And mainstream media echoing about bubble in crypto
I think bubble is in fiat!
And mainstream media echoing about bubble in crypto
I think bubble is in fiat!
The borrow from many sites will give an insecure feel for all investors and it cause a big disadvantage for crypto currency and cause huge loss and fall in the value of it.
Meanwhile market cap for all crypto still 0.36 trillion, and bitcoin 0.14 trillion.. what a gap!
And mainstream media echoing about bubble in crypto
I think bubble is in fiat!
And mainstream media echoing about bubble in crypto
I think bubble is in fiat!
If there's no crash, it will be a miracle.
Let's think different a little.
If it will be a crash, I think that Bitcoin pricing will also drop a lot.
Basically the price of Bitcoin is how much people want to pay for it.
If there's a crash, people would sell Bitcoin and stocks to cover other needs.
We've seen already Bitcoin falling just before the stocks have fallen too. Many use Bitcoin in a similar way to stocks.
Maybe I'm wrong. I hope so. But.. what if I'm right?
I think that's better for everybody, for now, to not pray for a new crisis.
It's really vary, because you are talking here about different aspects.
If the price of USD goes down, it is no longer an indicator to bitcoin's price, and we will need to indicate bitcoin's price with a more stable currency or even an asset such as gold.
I am pretty sure that the purchasing power of 1BTC will skyrocket(and will even more skyrocket if we compare it to the falling currency of USD).
That’s why the theory of www||| is in discussion nowadays it is meanly because the financial crisis is on our door knocking. USA is in full movement to hide this buy bombing Syria even with the threat of Russia.
With the big dept of America to China the reality is Uncle Sam is dying and in verge of passing the slogan “The great country” goes to an Asian country member.
I do believe that in the fall of fiat currency will emerge the bitcoin currency as at the center.
With the big dept of America to China the reality is Uncle Sam is dying and in verge of passing the slogan “The great country” goes to an Asian country member.
I do believe that in the fall of fiat currency will emerge the bitcoin currency as at the center.
It's still confusing how this will affect bitcoin expect if you means, that the government will probably 'borrow' peoples' money unknowingly in the bank to clear up their debts. Isn't that what they often do? It's not about borrowing the money that's the main concern, but paying people their required interest when done. I personally had nor needed a motivator to tell me to invest in bitcoin.
Huge debt means less trust in the traditional currencies and economy which means higher chances of getting your currency dropped.
People who knows about this risk may decide to put a part of their money in exotic currencies such as bitcoin, which may resulted in an increase in bitcoin's price.
Assets are going to be those who profits in case of currency explode as they are not directly connected to traditional currencies beside trading against them.
Two important parts of the article:
How is this fair?? Why do we keep hearing arguments AGAINST a capped reserve currency with comparisons made to the gold standard and effectively no noise against this tiger of unlimited debt that the governments keep riding at the expense of middle classes. Any economists listening to this?
Quote
High levels of sovereign debt could make it difficult for governments to refinance when their debt reaches maturity, especially if financing conditions tighten, the IMF said. Large debts also impede the ability of nations to increase spending if their economies fall into recession, and may cause a drag on growth
If governments cannot refinance their debts, the burden eventually falls on public spending. On education, healthcare and infrastructure. This upward spiral of debt and downward spiral of "funds available for the tax-payer" are directly related.Quote
The combination of last year’s tax cuts and increased government spending in a recent U.S. budget deal will benefit all income groups, the IMF said. However, those in the top quintile of incomes would benefit the most, followed by those in the bottom quintile, the fund said. As a result, the measures may contribute to the further “hollowing out” of middle-class incomes, it said.
Bitcoin supporters have been saying this for long enough. Creative firefighting measures made possible by an unlimited, inflationary currency will ultimately, always take their toll on the middle class.How is this fair?? Why do we keep hearing arguments AGAINST a capped reserve currency with comparisons made to the gold standard and effectively no noise against this tiger of unlimited debt that the governments keep riding at the expense of middle classes. Any economists listening to this?
Have you read this Book, "Why we want you to be rich" - by Donald Trump and Robert Kiyosaki
The book warns the reader that the American middle class strata is shrinking due to multiple factors including oncoming retirement of the baby boomers, rising costs of light crude oil, decreasing employer pay to employees, increasing national debt of the United States, and a declining power of the United States dollar. Source : https://en.wikipedia.org/wiki/Why_We_Want_You_to_Be_Rich
Rich people know that the middle class must survive for them to survive.
Governments all around the world have tapped out most of the rich people in their countries already and the lion share of taxes are being dumped onto the middle class now. This is why more and more people are moving from being middle class to being poor.
How is this fair?? Why do we keep hearing arguments AGAINST a capped reserve currency with comparisons made to the gold standard and effectively no noise against this tiger of unlimited debt that the governments keep riding at the expense of middle classes. Any economists listening to this?
Because you don't have instruments to controll the monetary system. Deflation can be way more harmfull then the inflation. It will completely kill the macro economy of the country. Economists have to struggle it.A capped reserve gives much less wiggle room to central banks(like the Federal Reserve) forcing them, the Politicians and the Investment bankers on their management boards to actually do their job. While with an unlimited reserve, you can always "Quantitatively Ease" your way out of any fuck-up.
$164 trillion in deficit and debt is much more dangerous to national security and the welfare of the public than terrorists "laundering money" via bitcoin. Unfortunately deficit and debt are unlikely to be acknowledged as a legitimate issue as it empowers wealth redistribution and makes it easier for the rich to become richer at the expense of everyone else.
The agenda based media has been discussing a "bitcoin bubble" when in reality they would discuss a "global debt bubble" if they did their jobs and reported on real issues which affect you and I.
If economists like Robert Shiller and Paul Krugman did their jobs they would be warning the public about the negative long term consequences $164 trillion in global debt can have on everyone. Unfortunately, they don't seem to do anything unless they get paid for it. And there appear to be many who will pay for them to *invent* negative stories about bitcoin, rather than report on legitimate issues.
The agenda based media has been discussing a "bitcoin bubble" when in reality they would discuss a "global debt bubble" if they did their jobs and reported on real issues which affect you and I.
If economists like Robert Shiller and Paul Krugman did their jobs they would be warning the public about the negative long term consequences $164 trillion in global debt can have on everyone. Unfortunately, they don't seem to do anything unless they get paid for it. And there appear to be many who will pay for them to *invent* negative stories about bitcoin, rather than report on legitimate issues.
Exactly! This is what we are talking about. Why can't there be a real debate on these topics:
- How much "wiggle room" for monetary control do the central banks, governments and businesses need?
- Why should it at be at expense of middle classes and their lives' savings??
- Why should the rich keep getting richer while the public expenditures on welfare measures for the poorest are forced to cut beyond recognition in the name of austerity measures??
When you create a circle-jerk where businesses, politicians and central banks are only interested in keeping each other protected, you will never have enough 'budget' to help the poor. Demagoguery based democracies like India and USA, with their humongous disparity are a prime example of this phenomena.
Yes, I do think it is good for bitcoin (and metals like gold and silver).
Any libertarian and/or enthusiast of austrian economics should agree with that. Government keep printing money to sustain such artificial levels, destroying the purchasing power of Dollar and other currencies (mainly EUR) and when you look at what really matters, like producitivy, we are nothing seeing any progress within years.
Bitcoin fits really well against such manipulation and as hedge of government-shit.
Any libertarian and/or enthusiast of austrian economics should agree with that. Government keep printing money to sustain such artificial levels, destroying the purchasing power of Dollar and other currencies (mainly EUR) and when you look at what really matters, like producitivy, we are nothing seeing any progress within years.
Bitcoin fits really well against such manipulation and as hedge of government-shit.
An alternative market appears, at least its core. I think that when the next reserve currency system is developed, it will be digital now almost all the major national banks are implementing blocking technologies and various crypto-currencies in their business models.
https://www.bloomberg.com/news/articles/2018-04-18/world-debt-hits-record-164-trillion-as-crisis-hangover-lingers
$164 trillion! That is an awfully big pile of money, but governments think it's not big enough. They keep on borrowing more every year. If there's no crash, it will be a miracle.
Pray God.
Or buy BTC!
I dont see any correlation beteeen the world debt to bitcoin. Every country looks at debt in a way to sustain their countries projects and also as form of alliance between countries. $164 is an awful lot of debt.
Bitcoin on the other hand boasts for its 21m supply. The closer we get to that last coin mined, the higher the price of bitcoin becomes.
Bitcoin on the other hand boasts for its 21m supply. The closer we get to that last coin mined, the higher the price of bitcoin becomes.
$164 trillion in deficit and debt is much more dangerous to national security and the welfare of the public than terrorists "laundering money" via bitcoin. Unfortunately deficit and debt are unlikely to be acknowledged as a legitimate issue as it empowers wealth redistribution and makes it easier for the rich to become richer at the expense of everyone else.
The agenda based media has been discussing a "bitcoin bubble" when in reality they would discuss a "global debt bubble" if they did their jobs and reported on real issues which affect you and I.
If economists like Robert Shiller and Paul Krugman did their jobs they would be warning the public about the negative long term consequences $164 trillion in global debt can have on everyone. Unfortunately, they don't seem to do anything unless they get paid for it. And there appear to be many who will pay for them to *invent* negative stories about bitcoin, rather than report on legitimate issues.
The agenda based media has been discussing a "bitcoin bubble" when in reality they would discuss a "global debt bubble" if they did their jobs and reported on real issues which affect you and I.
If economists like Robert Shiller and Paul Krugman did their jobs they would be warning the public about the negative long term consequences $164 trillion in global debt can have on everyone. Unfortunately, they don't seem to do anything unless they get paid for it. And there appear to be many who will pay for them to *invent* negative stories about bitcoin, rather than report on legitimate issues.
I wish OP could bother himself by clerifying why the collapse of the world economy is good for bitcoin. We are stil living in the real economy and buying everything for fiat money. I havent seen someone proving the corellation between BTC price and USD devaluation and nothing guarantees that cryprocurrencies will become more established after the collapse of the world economy.
How is this fair?? Why do we keep hearing arguments AGAINST a capped reserve currency with comparisons made to the gold standard and effectively no noise against this tiger of unlimited debt that the governments keep riding at the expense of middle classes. Any economists listening to this?
Because you don't have instruments to controll the monetary system. Deflation can be way more harmfull then the inflation. It will completely kill the macro economy of the country. Economists have to struggle it.
I don’t see how this is good for BTC, or good for anyone in fact. If the world debt continues to increase and the government is unable to spend, then this would affect everyone even for those who use bitcoin and maybe bitcoin itself will get affected badly. When it reaches up to the point where the govrnment runs out for public spending then many sectors of society will be affected such as education, infrastucture, industries etc. then shit hits the fan when this happens.
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