America's new debt ceiling - $19,600,000,000,000

[Possum577]

Brilliant, thank you!

So 33.9% of the debt is owned to foreign entities, which is $6.64 Trillion. This number is significantly more manageable for the government to pay off if everyone comes calling to collect. The US people don't have that authority (unfortunately) because technically they authorized all the spending that leads to the remaining 66%...am I wrong?

[NorrisK]

America's new debt ceiling - $19,600,000,000,000 (thats in the trillions if you were not sure)

Thats $60,000 debt for every man, woman and child in the country.

Ticking timebomb waiting to blow, keeping the gold nicely polished waiting for the day

The debt ceiling matters little. This figure is constantly used as a tool to mislead others. Considering that the vast majority of this debt is owned by Americans themselves it makes little difference.

Still, a debt is a debt. And some get hits hard than other if it really blows up (US military retirement fund for instance, those people get hit double).

I think it is quite unbeleivable how fast the debt has grown from 1990+. Shouldn't they realize at some point that this is only leading to more debt?

I agree that it is just a matter of time before the current fiat system goes down.

[RealBitcoin]

China is selling the treasuries as we speak, and Japan is buying them all up. Ah poor Japan, they are printing so much money that they even buy up garbage from the recycling plants

This is insane how this keynesian ponzi scheme is heading and its near to it's end.

[thejaytiesto]

All countries have severe non payable debts:

http://www.usdebtclock.org/

Other countries:

http://www.usdebtclock.org/world-debt-clock.html

The whole world is prone to collapse due an insane amount of never ending fiat cycle where more and more money is created to try to pay the debt which in return creates even more debt. It's madness. Only Bitcoin can return us to the correct pays of sound money.

[OrientA]

China is selling the treasuries as we speak, and Japan is buying them all up. Ah poor Japan, they are printing so much money that they even buy up garbage from the recycling plants

This is insane how this keynesian ponzi scheme is heading and its near to it's end.

The Japanese has to buy the treasuries as it is little brother of America. If it does not follow the orders from the big brother, it will be punished.

The punishment happen whenever Japanese does not follow orders. There are still American troops on Japanese soil.

[Paashaas]

If this system blows up, i must admit that Bitcoin ore crypto in general is comming just in time to save someone's assets.

[Gimpeline]

Its just a number. Everyone knows that they have no intention to pay it back. Even if you add 10 more zeros it will have no impact since its worthless.
0*19600000000000 = 0
0*19600000000000000000 = 0
You can add as many zeros you want and it's still just worth what you are paying back, in other words 0

[OrientA]

Its just a number. Everyone knows that they have no intention to pay it back. Even if you add 10 more zeros it will have no impact since its worthless.
0*19600000000000 = 0
0*19600000000000000000 = 0
You can add as many zeros you want and it's still just worth what you are paying back, in other words 0

That is the spirit. There is no way the debt will be paid back. The debt will be inflated away, as many governments do in the past centuries.

[actmyname]

Its just a number. Everyone knows that they have no intention to pay it back. Even if you add 10 more zeros it will have no impact since its worthless.
0*19600000000000 = 0
0*19600000000000000000 = 0
You can add as many zeros you want and it's still just worth what you are paying back, in other words 0

That is the spirit. There is no way the debt will be paid back. The debt will be inflated away, as many governments do in the past centuries.

Other countries shouldn't dare to try and collect on the debt, though, as it will damage the global economy severely. Even though the currency's just a bunch of paper that they print.

<in comes the pro-bitcoin parties>

[uki]

Its just a number. Everyone knows that they have no intention to pay it back. Even if you add 10 more zeros it will have no impact since its worthless.
0*19600000000000 = 0
0*19600000000000000000 = 0
You can add as many zeros you want and it's still just worth what you are paying back, in other words 0

That is the spirit. There is no way the debt will be paid back. The debt will be inflated away, as many governments do in the past centuries.

I also must join the camp of those who say that debt celling numbers matters very little, if at all. That is just a number that goes on the headlines if it pleases to make some plays, but in the big scheme of things when it comes to running the country, it must be extended to infinity. There is no other option in the Keynesian economy.

[NorrisK]

Its just a number. Everyone knows that they have no intention to pay it back. Even if you add 10 more zeros it will have no impact since its worthless.
0*19600000000000 = 0
0*19600000000000000000 = 0
You can add as many zeros you want and it's still just worth what you are paying back, in other words 0

That is the spirit. There is no way the debt will be paid back. The debt will be inflated away, as many governments do in the past centuries.

Other countries shouldn't dare to try and collect on the debt, though, as it will damage the global economy severely. Even though the currency's just a bunch of paper that they print.

<in comes the pro-bitcoin parties>

Isn't it pre-determined when the debt should be payed back?

They probably use the money they borrow from other countries, that is worth less when they borrow it a couple years later, to pay the old debts.

Rinse and repeat.

[smiletyson]

Don't worry guyz, FED will print money again and lend it to some 3rd world countries, then will withdraw them. Surprise USA's  economy is better now!

[kydranel]

who are they indebted to??world bank??i think all countries are in debt.

so who do we owe this money? im still confused

[lama-hunter]

That's it. There are no other options for clearing the debt. The US is going to lose its financial lead on the world stage and there is not enough money in the world to prevent it at this point.

It's just as bad in europe. We can't even pay for our own people and then we got massive amounts of immigrants on top of that. The entire western economy is going to collapse and it is going to happen within our lifetimes, possible as soon as within the next 5-10 years. Just a matter of how long they can keep kicking the can.

 Large negative numbers don't hurt your way of life, so keep the party going.


regards

[StevenLiang]

All countries have severe non payable debts:

http://www.usdebtclock.org/

Other countries:

http://www.usdebtclock.org/world-debt-clock.html

The whole world is prone to collapse due an insane amount of never ending fiat cycle where more and more money is created to try to pay the debt which in return creates even more debt. It's madness. Only Bitcoin can return us to the correct pays of sound money.

Hmm... actually we are still trade bitcoin back to fiat money.
Not all business owner thing that bitcoin is more valuable than fiat money. You will on 'madness' when your bitcoin price drop from $1200 into $235

and now slightly up to $324

All hail Bitcoin!! You're the best

[StevenLiang]

who are they indebted to??world bank??i think all countries are in debt.

so who do we owe this money? im still confused

I agree that all countries are in debt.
They have their own "system" to lend and to debt.

Japanese country lend some money to X country. And have debt money to Y country. But in circle Y money have debt  with X country too. Lol

But it's all about economy. And is not easy like that.
You can handle money when it just $100,000

But you cannot handle money when it goes to $100,000,000,000,000,000,000,000

System handle it.

[uki]

Isn't it pre-determined when the debt should be payed back?

They probably use the money they borrow from other countries, that is worth less when they borrow it a couple years later, to pay the old debts.

Rinse and repeat.

Bonds on expiration are paid with the money from freshly issued bonds, so effectively they are rolled over to another period, be it 10, or 30, years.
This is repeated endlessly, each time the cost of the operation is higher. The cost doesn't matter however as FED can print the amount that is required.
This game is called 'kick the can'.

[RealBitcoin]

Isn't it pre-determined when the debt should be payed back?

They probably use the money they borrow from other countries, that is worth less when they borrow it a couple years later, to pay the old debts.

Rinse and repeat.

Bonds on expiration are paid with the money from freshly issued bonds, so effectively they are rolled over to another period, be it 10, or 30, years.
This is repeated endlessly, each time the cost of the operation is higher. The cost doesn't matter however as FED can print the amount that is required.
This game is called 'kick the can'.

The game is called keynesian ponzi scheme. It's a ponzi scheme where you have a pyramid ownership, and everybody pays a part to the top of the pyramid (the elite), when they run out of money or new participants, they just print up more (confiscating from the already paid out clients) to run the scheme.

It is a complicated and well thought scheme, but it's still a ponzi scheme.

[OrientA]

Isn't it pre-determined when the debt should be payed back?

They probably use the money they borrow from other countries, that is worth less when they borrow it a couple years later, to pay the old debts.

Rinse and repeat.

Bonds on expiration are paid with the money from freshly issued bonds, so effectively they are rolled over to another period, be it 10, or 30, years.
This is repeated endlessly, each time the cost of the operation is higher. The cost doesn't matter however as FED can print the amount that is required.
This game is called 'kick the can'.

The game is called keynesian ponzi scheme. It's a ponzi scheme where you have a pyramid ownership, and everybody pays a part to the top of the pyramid (the elite), when they run out of money or new participants, they just print up more (confiscating from the already paid out clients) to run the scheme.

It is a complicated and well thought scheme, but it's still a ponzi scheme.

I thought Ponzi scheme is a crime in many countries. I did not realize the US government is acting like a Ponzi scheme manager. Any way, they dictate the law, and it is not a crime for them.

[uki]

Bonds on expiration are paid with the money from freshly issued bonds, so effectively they are rolled over to another period, be it 10, or 30, years.
This is repeated endlessly, each time the cost of the operation is higher. The cost doesn't matter however as FED can print the amount that is required.
This game is called 'kick the can'.

The game is called keynesian ponzi scheme. It's a ponzi scheme where you have a pyramid ownership, and everybody pays a part to the top of the pyramid (the elite), when they run out of money or new participants, they just print up more (confiscating from the already paid out clients) to run the scheme.

It is a complicated and well thought scheme, but it's still a ponzi scheme.

yes, we agree that this type of game is a clearly Ponzi scheme, there is no discrepancy in our posts. The Keynesian economy is based on the assumption of the unending growth as a remedy for everything, and thus the need for creating it artificially leads to what FED does - money printing.
Each government can do that on the smaller or bigger scale, the impact of FED printing press is by far the biggest, due to the dominant position of US economy.