US Debt Has Exploded

[Preclus]

Yes, they do. They like cash paper dollars a lot until they launder them. Very, very many other people in the world hold paper dollars. You just don't see all of this from your basement.

Paper dollars do exist. Do you know what they are called? They are M0.

Do you know what M1, M2, M3 and all the rest are?

Now, how much M0 is there in the US? There is about $1.39 trillion dollars.

That's up from 2008:

http://visualeconomics.creditloan.com/the-value-of-united-states-currency-in-circulation/

That is all the US paper dollars and coins in the world. That's it.

Now, let's talk about assets. How much is all the real estate in the US worth? $14 trillion. How about all the stock? $22 trillion. How about the value of all the bonds? $37 trillion.

US Real estate + US stock + US bonds = 73 trillion

And that's just some of the assets owned by people in the US. The US GDP alone is 18 trillion.

Nobody holds dollars. Now, if you are saying some drug dealers has $20,000 in $100 bills somewhere for some period of time, sure. But in terms of economics and wealth, that is as meaningful as the $140 or so I have in my wallet right now.

[ctlaltdefeat]

First 224 years of existence: 5.674 trillion dollars
Next 8 Bush years: 4.350 trillion dollars
Next 7 Obama years: 8.126 trillion dollars

Compare what we've done in the last 15 years to what we did in the first 224 years. We've more than tripled in the last 15 years what it took 224 years to accumulate in debt.

To be lazy and use stereotypes, democrats spend too much and republicans tax too little. The truth is that both parties spend too much and tax too little. The current war spending is not sustainable. The current tax rates are not sustainable. Social Security and Medicaid are about to explode in expenditures. You simply cannot cut this level of debt by only cutting spending or only raising taxes. It will take substantial efforts on both ends to put things in order, and then it will take disciplined restraint and political will to stay on course over several decades to begin to fix this process.

Frankly, our politicians are not up to the challenge. Their incentive is re-election every 2 or 4 years, and this type of outlook is incompatible with the long-term approach necessary to fix what an utter mess the national finances have become.

that is massive of big debt,it just a bunch of paper,so many papper that thing called "money" i wonder how can US have so many debt,and for what?from where they get that loan?

[BTCGolddigger]

Say thing is the U.S Government don't care about it at all. We are so much in debt that we can't help, the people that live in the U.S.A. But we have the money to help the others come take are right from us. 

[allthingsluxury]

We've catapulted off the cliff and there is no looking back now. The inevitable collapse is going to come of fiat money. Hopefully we will return to a new honest system, whether it be bitcoin, gold and some other basket of commodities, who knows. Anything will be better than the farce we currently are enslaved to.

[MedaR]

Better question is how survive this scenario? And what we can see after this collapse?
Probably many people will be at the edge of starvation.
More homeless more sad stories..

 Rest of the world i won't mention same will follow.

"US unemployment rate fell 0.1 percentage points in January 2016 to 4.9%.
The unemployment rate peaked in October 2009 at 10.0% and is now 5.1 "
from: http://www.deptofnumbers.com/unemployment/us/

More than 500,000 people homeless in the United States in 2015 but i can't get info about 2016.

And will be worse!

Probably best solution is go back to nature far from city and create small self sufficient communities..
This is going to be only hope for many people i think.
Grown your own food and be more economical don't throw your money on
expensive unnecessary thing today. Save gold and silver and BTCs.
Learn new skills !
http://economicoutlook2015.com/economic-collapse-2015-51  *Maybe they mishit a year but read in any case.

[Barnabe]

Probably best solution is go back to nature far from city and create small self sufficient communities..
This is going to be only hope for many people i think.
Grown your own food and be more economical don't throw your money on
expensive unnecessary thing today. Save gold and silver and BTCs.
Learn new skills !

Even doing that might not be enough to be self-suficient.
You still would have to pay taxes and submit to the government's laws and regulations...

[arbitrage]

Personal bankruptcy proclaimed in agreement with the bank and the court,
and is the protection of those who fell into debt.
The goal is not to sanction the borrower, but he gets a possibility to re-start earning.

I think this also mean he is tax free because of proclamation of bankruptcy.

[mrhelpful]

Probably best solution is go back to nature far from city and create small self sufficient communities..
This is going to be only hope for many people i think.
Grown your own food and be more economical don't throw your money on
expensive unnecessary thing today. Save gold and silver and BTCs.
Learn new skills !

Even doing that might not be enough to be self-suficient.
You still would have to pay taxes and submit to the government's laws and regulations...

Everyone has pay taxes no matter what lol.

Its just a matter of what percent can you decrease it to is the real issue. You can see a whole documentary on that google double irish sanwich and how big corps do it.

But for us common folk who has no access to enormous power, yeah smurfing will catch up with you so quick. For those who dont know what smurfing is you can look it up lol.

[yugo23]

Better question is how survive this scenario? And what we can see after this collapse?
Probably many people will be at the edge of starvation.
More homeless more sad stories..

 Rest of the world i won't mention same will follow.

"US unemployment rate fell 0.1 percentage points in January 2016 to 4.9%.
The unemployment rate peaked in October 2009 at 10.0% and is now 5.1 "
from: http://www.deptofnumbers.com/unemployment/us/

More than 500,000 people homeless in the United States in 2015 but i can't get info about 2016.

And will be worse!

Probably best solution is go back to nature far from city and create small self sufficient communities..
This is going to be only hope for many people i think.
Grown your own food and be more economical don't throw your money on
expensive unnecessary thing today. Save gold and silver and BTCs.
Learn new skills !
http://economicoutlook2015.com/economic-collapse-2015-51  *Maybe they mishit a year but read in any case.

Ah!

Wanna know what will happen if everything crashes?
People will finallt understand that money is nothing. Just a mean of exchange. They'll understand there is no reason for 5 banks and 4 companies to own the world! We gonna behead them and take back what's rightfully ours.

[arbitrage]

Ok but can someone explain to me how will bitcoin be used for store value in days after big crash?
Maybe bitcoin also will go down especially those mining farms.
  Without great secure network bitcoin will also be in crisis?

[Barnabe]

Ok but can someone explain to me how will bitcoin be used for store value in days after big crash?
Maybe bitcoin also will go down especially those mining farms.
  Without great secure network bitcoin will also be in crisis?

The great thing is that they can't seize your money to pay your banks debts like they did in Malta. A few months ago, I saw the topic of a man who lost 300'000$ because of this.
The big corporations and states didn't want to lose money so they just took the deposits in the bank.
Absolutely outrageous, but there is nothing the individual  can do about it. Just don't repeat the same mistake...

[markj113]

Ok but can someone explain to me how will bitcoin be used for store value in days after big crash?
Maybe bitcoin also will go down especially those mining farms.
  Without great secure network bitcoin will also be in crisis?

The great thing is that they can't seize your money to pay your banks debts like they did in Malta. A few months ago, I saw the topic of a man who lost 300'000$ because of this.
The big corporations and states didn't want to lose money so they just took the deposits in the bank.
Absolutely outrageous, but there is nothing the individual  can do about it. Just don't repeat the same mistake...

Why do you think there is a global push to move to a cashless society?

The bank bail in laws are already in place, doesnt take a genius to put it all together.

Either a haircut of your cash or a slow erosion through negative interest rates will achieve the same the goal.

[Barnabe]

Ok but can someone explain to me how will bitcoin be used for store value in days after big crash?
Maybe bitcoin also will go down especially those mining farms.
  Without great secure network bitcoin will also be in crisis?

The great thing is that they can't seize your money to pay your banks debts like they did in Malta. A few months ago, I saw the topic of a man who lost 300'000$ because of this.
The big corporations and states didn't want to lose money so they just took the deposits in the bank.
Absolutely outrageous, but there is nothing the individual  can do about it. Just don't repeat the same mistake...

Why do you think there is a global push to move to a cashless society?

The bank bail in laws are already in place, doesnt take a genius to put it all together.

Either a haircut of your cash or a slow erosion through negative interest rates will achieve the same the goal.

There is no global push, nobody can tell people what to do with their money.
Every currency is based on trust. Bitcoin has to win that trust.

What I mean is that people hopefully will understand that the actual economic system is rotten and that if they want to store value they will have to diversify their assets (and that includes bitcoin).

[HeroCat]

Yes, just think, what can be the future decision of the debt - it is very large sum of money. I think no one even know what to do with this debt 

[yugo23]

Ok but can someone explain to me how will bitcoin be used for store value in days after big crash?
Maybe bitcoin also will go down especially those mining farms.
  Without great secure network bitcoin will also be in crisis?

Why would it go down? If the whole economic world crashes, the value will be stored in things that are outside this economical trends, such as btc
Protected from government and banks!

[yugo23]

Ok but can someone explain to me how will bitcoin be used for store value in days after big crash?
Maybe bitcoin also will go down especially those mining farms.
  Without great secure network bitcoin will also be in crisis?

The great thing is that they can't seize your money to pay your banks debts like they did in Malta. A few months ago, I saw the topic of a man who lost 300'000$ because of this.
The big corporations and states didn't want to lose money so they just took the deposits in the bank.
Absolutely outrageous, but there is nothing the individual  can do about it. Just don't repeat the same mistake...

Why do you think there is a global push to move to a cashless society?

The bank bail in laws are already in place, doesnt take a genius to put it all together.

Either a haircut of your cash or a slow erosion through negative interest rates will achieve the same the goal.

There is no global push, nobody can tell people what to do with their money.
Every currency is based on trust. Bitcoin has to win that trust.

What I mean is that people hopefully will understand that the actual economic system is rotten and that if they want to store value they will have to diversify their assets (and that includes bitcoin).

Actualy the government and the banks can decide what you do with your money. Especially as most people own nothing but bank loans...

[markj113]

Ok but can someone explain to me how will bitcoin be used for store value in days after big crash?
Maybe bitcoin also will go down especially those mining farms.
  Without great secure network bitcoin will also be in crisis?

The great thing is that they can't seize your money to pay your banks debts like they did in Malta. A few months ago, I saw the topic of a man who lost 300'000$ because of this.
The big corporations and states didn't want to lose money so they just took the deposits in the bank.
Absolutely outrageous, but there is nothing the individual  can do about it. Just don't repeat the same mistake...

Why do you think there is a global push to move to a cashless society?

The bank bail in laws are already in place, doesnt take a genius to put it all together.

Either a haircut of your cash or a slow erosion through negative interest rates will achieve the same the goal.

There is no global push, nobody can tell people what to do with their money.
Every currency is based on trust. Bitcoin has to win that trust.

What I mean is that people hopefully will understand that the actual economic system is rotten and that if they want to store value they will have to diversify their assets (and that includes bitcoin).

So when the governments ban cash what are you going to do with your notes?

They are already looking to ban high value USD, GPB and euro notes and that is just the start.

I think you need to do a bit more reading -

https://www.google.co.uk/?gfe_rd=ssl&ei=IrLEVvTXB9TAaO_LmJAM#q=cashless+society

[Barnabe]

Yes, just think, what can be the future decision of the debt - it is very large sum of money. I think no one even know what to do with this debt 

The problem is that even if the debt is meaningless, it still here and the system is built on it.
If there is a massive revolution in the financial system there will be a lot of instability in the short term. People might die during these times.
The change in the system will not be peaceful.

[Barnabe]

Ok but can someone explain to me how will bitcoin be used for store value in days after big crash?
Maybe bitcoin also will go down especially those mining farms.
  Without great secure network bitcoin will also be in crisis?

The great thing is that they can't seize your money to pay your banks debts like they did in Malta. A few months ago, I saw the topic of a man who lost 300'000$ because of this.
The big corporations and states didn't want to lose money so they just took the deposits in the bank.
Absolutely outrageous, but there is nothing the individual  can do about it. Just don't repeat the same mistake...

Why do you think there is a global push to move to a cashless society?

The bank bail in laws are already in place, doesnt take a genius to put it all together.

Either a haircut of your cash or a slow erosion through negative interest rates will achieve the same the goal.

There is no global push, nobody can tell people what to do with their money.
Every currency is based on trust. Bitcoin has to win that trust.

What I mean is that people hopefully will understand that the actual economic system is rotten and that if they want to store value they will have to diversify their assets (and that includes bitcoin).

So when the governments ban cash what are you going to do with your notes?

They are already looking to ban high value USD, GPB and euro notes and that is just the start.

I think you need to do a bit more reading -

https://www.google.co.uk/?gfe_rd=ssl&ei=IrLEVvTXB9TAaO_LmJAM#q=cashless+society

And by doing so fiat money implicitly loses value.
I know very well that governments want to control as much as possible cash transactions. The thing is each time they do so, people loses interest in cash (and thus cash loses value).
If they continue in this path people will be more inclined to use bitcoin as it's easier to use.

Bitcoin adoption is not an on/off thing, it's progressive.
If the state forbids big cash transactions, some people who used to do it would just switch to bitcoin (easier, no risk to get caught) to do them.

[romero121]

Ok but can someone explain to me how will bitcoin be used for store value in days after big crash?
Maybe bitcoin also will go down especially those mining farms.
  Without great secure network bitcoin will also be in crisis?

The great thing is that they can't seize your money to pay your banks debts like they did in Malta. A few months ago, I saw the topic of a man who lost 300'000$ because of this.
The big corporations and states didn't want to lose money so they just took the deposits in the bank.
Absolutely outrageous, but there is nothing the individual  can do about it. Just don't repeat the same mistake...

Why do you think there is a global push to move to a cashless society?

The bank bail in laws are already in place, doesnt take a genius to put it all together.

Either a haircut of your cash or a slow erosion through negative interest rates will achieve the same the goal.

There is no global push, nobody can tell people what to do with their money.
Every currency is based on trust. Bitcoin has to win that trust.

What I mean is that people hopefully will understand that the actual economic system is rotten and that if they want to store value they will have to diversify their assets (and that includes bitcoin).

People have right on their money. Still due to the economic system followed over the past people have money and certain value assigned for money. So certain changes need to be done in economic system.