Bitcoin Forum

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The european union being $12 trillion in debt seems like a neglected topic that is seldom raised or discussed.

If the united states being $20 trillion in debt is leading many nations to get rid of the us dollars they're holding, should the same precedent apply to the euro with the european union holding a large deficit?

Also -- if both the us dollar and the euro are headed towards devaluation & possible hyperinflation, does this open the door to crypto and bitcoin gaining a much larger userbase with higher demand in the future?

What are everyone's thoughts on this?   ???

Central banks don't have many other options at this point other than increasing inflation rates and that's what they are going to keep doing, there's no way out.

States are going to collapse due the ever increasing debt. It would take a politician that is realistic and makes all the banks and other rescued businesses to finally go bankrupt but they will rescuing them by printing more money because nobody wants to go through the clusterfuck of an S&P500 correction.

All countries in the world are debted, again topic with FUD mongering and going into BTC 'safe the world'. Eh...
20Trilions are a 'little' more than 12 in EU, with comparable gdp.

...

Answering your question specifically, I don't know!  The Euro has been going up over the past three or so weeks however.

I go with the suggestions that I have long made here at bitcointalk.  Who knows whether Europe, the USA, Japan or China will have a big accident anytime soon.  

Stay diversified!  Own different assets (not just real estate, not just stocks & bonds, not just gold, not just CA$H, not just BTC).  Own a bit of everything...  Different assets will often move in different directions, you will be much safer.

Try to stay out of debt while you're at it.  If the USA (or Europe, etc.) defaults, they won't pay.  But, if YOU try to default, they will come for your hide.

Guns & ammo as well as water & food production gear for the truly worried...

Unfortunately, if you are an student and you are in the USA, it's impossible that you aren't in debt, unless your parents are rich and paid your college degree entirely since day 1. Most people end up with 5 to 6 figures of debt after college.. it's nuts.

In Europe debt is lower, wages are lower too tho, but I think debt is just horrible. Id rather make less money than be on debt.

Of and forget about entrepreneurship, if it goes wrong you are fucked beyond redemption. I have so many business ideas but I don't want to get in a mountain of debt.

As a European I find it to be scary, because I'm not poor, but I don't have €24k lying somewhere, so if we were to somehow pay the debt, I wouldn't have the money. I'd have to start living in a camper to make it somehow, but why should I? I'm not in debt, I shouldn't be responsible for the actions of my government.

I think the reason not many rise this topic is simply because first of all the debt is smaller, but the issue with the euro is that some countries are in terrible financial shape, so bad is their economic situation that they are putting at risk the economic and political union, but the biggest issue for the EU is the fact that some of its members seem to want out, so the real problem is not the debt in itself but the disappearance o the euro and the European Union themselves.

This is the biggest irony in the world. Even if the European Union and the United States has a very large debt they will still not go down since they have connections around the world an nobody would dare to go against them. Their only downfall is if their citizens will purchase bulk volumes of bitcoin and leave the US dollars and Euro. IF that happens then US dollar and Euro will be devalued.