Will and HOW will bitcoin help reduce/eliminate the terrible abuse of debt and the boom bust cycle?
http://theeconomiccollapseblog.com/archives/12-numbers-about-the-global-financial-ponzi-scheme-that-should-be-burned-into-your-brain$1,280,000,000,000 - Most people are really surprised when they hear this number. Right now, there is only 1.28 trillion dollars worth of U.S. currency floating around out there.
-$17,555,165,805,212.27 - This is the size of the U.S. national debt. It has grown by more than 10 trillion dollars over the past ten years.
-$32,000,000,000,000 - This is the total amount of money that the global elite have stashed in offshore banks (that we know about).
-$48,611,684,000,000 - This is the total exposure that Goldman Sachs has to derivatives contracts.
-$59,398,590,000,000 - This is the total amount of debt (government, corporate, consumer, etc.) in the U.S. financial system. 40 years ago, this number was just a little bit above 2 trillion dollars.
http://theeconomiccollapseblog.com/archives/the-united-states-of-debt-total-debt-in-america-hits-a-new-record-high-of-nearly-60-trillion-dollars If you go back 40 years ago, total debt in America was sitting at about 2.2 trillion dollars. Somehow over the past four decades we have allowed the total amount of debt in the United States to get approximately 27 times larger. This is utter insanity, and anyone that thinks this is sustainable is completely deluded. The Federal Reserve works better the more debt there is. BTC will never do anything to the debt so not sure what youa re talking about here. 40 years ago the dollar was worth A LOT less, so that "27 times larger" thing you are saying is not correct, after adjusting for inflation its probably about equal to today's debt.
I don't know why you are posting this kinda thing, you definitely are not taking into account much detail or context.
Obama more than doubled the debt, don't say it grew by 10 trillion over the past 10 years, it grew by 10 trillion over the past 6 years under OBAMA.
Countries also need debt to operate in times of crisis and in times of a slowing economy. This is a pipe dream to think BTC will reduce debt, what reduces debt is LIBERTARIANS AND CONSERVATIVES. Litterally, Conservatives are all about SPENDING MONEY CONSERVATIVELY, which means not wasting money and cutting back. Libertarians are all about reducing the size of government, which means reducing headcount/staffing/unnecessary jobs/less government spending.
People also give BTC loans with interest btw. Has been happening for awhile now.
