The debt based Economy

[justdimin]

Debt based economy is not how you create money, we did used gold standard for the longest time and that was fine, there was no problem with it until we decided not to and suddenly world owns tens of trillions of dollars in debt, how is that better?

New money is not even needed to be printed, if you see rich getting so rich that they have all the money and hundreds of millions of people are too poor because all the money is at the rich, that means you just need to tax the rich a lot higher, and I mean A LOT higher and give that money to small business' and people, that way you will not be required to watch rich people destroying poor people. Sure stock market could crash and go down for a while until they realize they can't own all the money but that will be readjusted eventually.

[Mauser]

Debt based economy is not how you create money, we did used gold standard for the longest time and that was fine, there was no problem with it until we decided not to and suddenly world owns tens of trillions of dollars in debt, how is that better?

New money is not even needed to be printed, if you see rich getting so rich that they have all the money and hundreds of millions of people are too poor because all the money is at the rich, that means you just need to tax the rich a lot higher, and I mean A LOT higher and give that money to small business' and people, that way you will not be required to watch rich people destroying poor people. Sure stock market could crash and go down for a while until they realize they can't own all the money but that will be readjusted eventually.

Unfortunately there is not enough Gold out there to insure all the money in the world. If all currencies would be based on Gold again the gold price would dictate any movement in the currencies. Interest rates in countries would not be so important anymore and a country could not just print money to support their own economy. And if only 1 country would return to the gold standard it could be exploited by other countries. We must trust now the government in their ability to pay the debt. Or we move into crypto currencies and be more independent and secure than when using Fiat.

[cryptoboss2020]

so guys if there is no way around to get it ??
then why we complain about central banks and fed debt based economy?

then its all good:) we got no better solution!

[carter34]

Let's go back in the past and just do barter. You pay what you have in exchange for the things that you are about to get food, water and other necessities. It's real-life trading of goods and services you have for another goods and services that you want.

But, I still can see that debt could start out with that kind of economy. Changing the system will require you tremendous resources and power. There's no coming back and this kind of economy will remain.

But, I still can see that debt could start out with that kind of economy. Changing the system will require you tremendous resources and power. There's no coming back and this kind of economy will remain.

Yes the barter system can still be run in debt or was any of us living during that time? I don't think that the debt system will go since exchange is an important as part of human life. Exchange of physical contact will still have debt playing out but exchange of the crypto space will close up debt because there are no provision for it but it opens up scam.

[geyayy]

Most of the countries in the world have a debt-based economy, this can be a good thing if country have good governments too.
But the reality is that the corruption rate is quite high in various countries. This make debt-based economy comes at risk,
if the government is not good at managing state finances, the citizens who will become victims of course.

Corruption is really chronic in various countries. Good governance will be earned if the administrations knows how to listen to their countrymen. If having leaders who are corrupt, the people will be having to endure the effect, they are good at managing state finances which goes directly to their accounts not for the people who are under them. This pandemic showed us how incompetent our leaders are. If you are wondering when will a debt based economy will happen, it never will.

[teosanru]

So if we change the system that money will be not Born from the debt?
What will be other way then?
And how it will be controlled how much money is given away to people to use it.


This Question is specially for those who is against this debt based economy?

Actually no economy is born from debt. If you see the traditional tethering of currencies towards gold they weren't made from Debt but as time passes. The requirement
of economic growth (which is generally characterized by disposable liquid income in hands of people) increases, the government's cannot create this much gold/backed asset at the pace at which they want to increase this liquidity which gives rise to debt based economies. You should see some documentary regarding currencies in the past. Every currency event the ancient ones which started from precious metals started to decrease the content of precious metals in their subsequent currencies.

[Peanutswar]

What if the money was not born into our economy it might sure that we are on the past or in the future transaction. In the past transactions, we are using the items, tools, equipment, and other items to trade to other people or just a payment to our debt, we are doing in old times but on that perspective, the economy doesn't know the concept of the debt. Right now if we are looking at the future the debt it is possible happen by just paying in online transactions or digital transactions also with the use of the cryptocurrency and the fiat currency.

Most of the countries in the world have a debt-based economy, this can be a good thing if country have good governments too.
But the reality is that the corruption rate is quite high in various countries. This make debt-based economy comes at risk,
if the government is not good at managing state finances, the citizens who will become victims of course.

Corruption is really chronic in various countries. Good governance will be earned if the administrations knows how to listen to their countrymen. If having leaders who are corrupt, the people will be having to endure the effect, they are good at managing state finances which goes directly to their accounts not for the people who are under them. This pandemic showed us how incompetent our leaders are. If you are wondering when will a debt based economy will happen, it never will.

At the first place, there is no country have a debt but they need to have an assistance to their country so they need to ask for help to other country and borrow some money by that time the country now has a debt it depends on the people and the government especially how they handle the money, if you have a bad government there is a chance that they will keep the money and release a small amount just for the community but if you have a good government there is a chance you will lessen your debt and payback immediately to avoid increase the number of debt.

[abhiseshakana]

At the first place, there is no country have a debt but they need to have an assistance to their country so they need to ask for help to other country and borrow some money by that time the country now has a debt it depends on the people and the government especially how they handle the money, if you have a bad government there is a chance that they will keep the money and release a small amount just for the community but if you have a good government there is a chance you will lessen your debt and payback immediately to avoid increase the number of debt.

The creators and controllers of the world economic system have indeed made many countries and individuals trapped in debt because after all, banks and debt with interest are the means of extracting abundant wealth to the owners of money without having to work. Debt with interest has become a habit for the world from the individual to the state level and is considered the fastest solution to all economic problems.

Debt causes a person to buy what is not needed and the country builds up against its means. The habit of consuming today using the money that is obtained tomorrow is a problem, especially if there is an additional nominal that must be paid, as well as the state, government policies that rely on foreign direct investment have many problems, even the debt has only been paid by our generation of grandchildren, not to mention the problem loss on foreign exchange or if there is a budget deficit and trade balance deficit.

[int03h]

Countries that develop economies based on debt are not bad, but it is bad that they fall into debt and spend money on debt uncontrollably.
Many countries fell into seven debt. They develop unnecessary projects and are tied with some detrimental terms. When they cannot control their debts, they will have to sacrifice some of the country's interests, such as repaying the debt with raw resources, accepting land lease for many years.
There are also a few countries that are wise in borrowing and helping to thrive in the country's economic development.
Debt is not bad, but bad debt is bad.

[MCobian]

It must be admitted that nowadays we need debt to advance the economy, almost all countries have debts. Actually it doesn't matter
if the country has debt, which is the problem of countries that have bad governance, with a lot of corruption, this is what makes the state
debt even bigger. Therefore it is the people's duty to choose good leaders, in order to manage state finances properly, so that the state
debt does not continue to grow.

[Dorodha]

Debt-Based Economy Crypto-currency is a digital-only currency that holds the best of both worlds. There are no physical restrictions on restricting its use or imposing certain physical processes, such as mining, but there is no need to be debt-based. One of the side benefits of the forms we have created to create news is that they are decentralized to allow people to perform the entire transaction process, but perhaps the biggest advantage is usually referred to as the negative. Not in favor of consumers.

[bits4books]

The most elegant and simple solution is the need to provide 100% of the money supply with something "solid". The gold standard was a pretty cool system, but they abandoned it because they thought it would be better. And in the end - in the historical perspective-it becomes clear that there was no sense in this, because again, what difference does it make how much a bottle of milk cost in the 50s and today, if in percentage terms little has changed.

I believe that for the state currencies, for a globally recognized currency and for reserves, 100% hard collateral must be used. This will save you a lot of problems.
Loans in this system do not go anywhere.

[goaldigger]

Every country has its own debt even the strongest one so i can’t imagine without debt at all, this can only mean that any country can print fiat currency at no ceiling volume and that’s a good way for them not to borrow money which consist of economy effect. Many says gold is a good alternative but those are just theories since we all know fiat money is a necessity now, if there’s no debt then for sure other terms will be used.

[gabbie2010]

So if we change the system that money will be not Born from the debt?
What will be other way then?
And how it will be controlled how much money is given away to people to use it.


This Question is specially for those who is against this debt based economy?

Every country has its own debt history and it will never fade away because it will continue to grow over time. If there’s no debt then that country must able to support their needs on their own and its really hard to fund your projects. The barter can be a good alternative just like the old days but i think it will not work on this era, cash debt is everything now.

Majority of countries globally are laden with debt even some of the world powers are not left out they also run their economies on debt some countries obtain loans to fill their budget deficits however how those loans are being managed is questionable in some of those countries due to high level of corruption.
The paramount objective of some of those debt laden countries is the well being of their citizens if there is the need to run the economy on dept provided that whatever hash conditions their people passing through just like the present pandemic if obtaining a loan will cushion some of the effects or problems thus plunging their economy into debt its all well and good.

[bitgolden]

The trouble why it works is the fact that everyone has debt and it normalized the situation right now, I do not really see it as a normal thing honestly, just because everyone has debt that doesn't mean it should be normal and a regular way to grow the economy. Obviously it doesn't create that much of a trouble because of this reason, however it should be a bigger deal of a problem, same goes with everything that is bad, if everyone is drinking alcohol and dying of liver failure, would you do it as well? Makes no sense to do something bad because everyone else does it too.

Debt economy should be somehow get lower and lower and eventually not have any debt at all, if we continue down this path eventually this debt will not be paid fully and no idea how horrible things will get by that point.

[wiss19]

So if we change the system that money will be not Born from the debt?
What will be other way then?
And how it will be controlled how much money is given away to people to use it.


This Question is specially for those who is against this debt based economy?

I don’t know why people keeps on complaining and talking about this. And from what I have noticed, the people who are always talking about the current economy being based on debt are people who thinks that one day the fiat we are using is going to be replaced by the Bitcoin they are seeing now, which is not possible.

There are good and bad sides to everything ,and it all happens for a purpose. Unless we are planning to go back to currencies being backed by gold, which to me, wouldn’t be a really good idea since the gold has a supply and demand that is volatile. Maybe they should do proper research before saying whatever.

[StyleForceOne]

So if we change the system that money will be not Born from the debt?
What will be other way then?
And how it will be controlled how much money is given away to people to use it.
This Question is specially for those who is against this debt based economy?

I don’t know why people keeps on complaining and talking about this. And from what I have noticed, the people who are always talking about the current economy being based on debt are people who thinks that one day the fiat we are using is going to be replaced by the Bitcoin they are seeing now, which is not possible.
There are good and bad sides to everything ,and it all happens for a purpose. Unless we are planning to go back to currencies being backed by gold, which to me, wouldn’t be a really good idea since the gold has a supply and demand that is volatile. Maybe they should do proper research before saying whatever.

People complain about this debt/loan based economy can lead to a huge collapse, its not like a insignificant downside to it - it is a scary possibility.
And thats why some people really want to rely on crypto and bitcoin in particular, and I tend to agree with you so I don't see bitcoin completely replace fiat in the future.

[drlukacs]

So if we change the system that money will be not Born from the debt?
What will be other way then?
And how it will be controlled how much money is given away to people to use it.


This Question is specially for those who is against this debt based economy?

sorry but I really don't want the world to have no debt. Money should be flowing evenly and usefully, especially for potential startups.
If you think that letting people spend a certain amount of money together, I bet the world will go back forever. Because it has no motivation for people to strive, then there will be a lazy generation.
So for us to have a world of variety and color, we need debt. Potential startups need it to grow large chunks of different services to make this society better. Do you agree with this view? Hope it will help you think more positively.