US Debt Has Exploded

[xhomerx10]

 You're simply wrong.  Stop spreading FuD.

The EU sets requirements that insured deposits must be accessible for depositors within a specified time frame. Under EU rules, payout deadlines must be gradually reduced from 20 working days presently, to 7 working days as of January 1, 2024.  The insured amount is currently €100,000.

 In the USA, no depositor has ever lost a penny of insured deposits since the FDIC was created in 1933.

 Many countries have deposit insurance schemes.  Look it up man!

That means nothing. What's insured is indeed any account under 100k€, but it's insured by a fund having around 0.8% of the bank funds and only in 2024 not right now!
"The Deposit Insurance Fund would be equivalent to 0.8% of the covered deposits of all banks in the Banking Union by 2024."
http://europa.eu/rapid/press-release_MEMO-15-6153_fr.htm

This is no FUD man, if one small bank sinks no problem normally, the money should be found. But you gotta have only one and not too big.

  So it's sUpErFuD?  What are we talking about then, full scale global economic collapse or just the collapse of the European Union?
This is deposit insurance.  The failed bank will be taken over and it's assets liquidated.  What insurance scheme anywhere has to fund 100% of ALL potential liabilities?  None; nowhere and neither is it necessary.

NB. I'm not an actuary but I slept at a Holiday Inn Express last month.

Lol! There is a difference in saying it's 100% insured (which is hard I agree) and say that it's 0.8% insured!!!

I don't really call that insurance! Would you say your house is correctly insured if I promise you to repay you 0.8% of its value if it burns down?

I don't really see the FUD here...

 It IS 100% insured up to 100,000 euros payable in 20 days.  The 0.8% is the amount the insurer must have on-hand in reserve.
Your scenario would have every house insured by my insurer burn down on the same day.  The only way that's going to happen is some sort of cosmic event or "act of god" - in this case, my insurance policy would be nullified as it doesn't cover era-ending asteroids or world war.

[Barnabe]

The only way that's going to happen is some sort of cosmic event or "act of god" - in this case, my insurance policy would be nullified as it doesn't cover era-ending asteroids or world war.

Damn insurers ! Always trying to find loopholes to avoid paying back what they owe ! 

[BTCGolddigger]

The only way that's going to happen is some sort of cosmic event or "act of god" - in this case, my insurance policy would be nullified as it doesn't cover era-ending asteroids or world war.

Damn insurers ! Always trying to find loopholes to avoid paying back what they owe ! 

All the time. There should be laws about the Loopholes or we have to fight back. We have paid are money to the insurers and many people get burn in the outcome.

[eon89]

Well you should always read or have a lawyer read the small print for you. You never know what loophole they're hiding just on front of your eyes.

[Barnabe]

Well you should always read or have a lawyer read the small print for you. You never know what loophole they're hiding just on front of your eyes.

Yeah but if you hire a lawyer you'll have to pay him the equivalent to the potential losses 
When the system is rotten you have no choice but to take part on it ...

[bitgolden]

I don't agree that the taxes are not enough to pay the debit as US is always known for their financial status. Even increasing taxes is not a long term solution as it will indirectly affect people financially.

[voztata]

I don't agree that the taxes are not enough to pay the debit as US is always known for their financial status. Even increasing taxes is not a long term solution as it will indirectly affect people financially.

I guess they will not bother this. If USA really in a debt, there can not be issues for the citizens as the Government know how to settle their dues by increasing the taxes of the companies rather than the citizens. They never care about future consequences and about people too.

[youdamushi]

 You're simply wrong.  Stop spreading FuD.

The EU sets requirements that insured deposits must be accessible for depositors within a specified time frame. Under EU rules, payout deadlines must be gradually reduced from 20 working days presently, to 7 working days as of January 1, 2024.  The insured amount is currently €100,000.

 In the USA, no depositor has ever lost a penny of insured deposits since the FDIC was created in 1933.

 Many countries have deposit insurance schemes.  Look it up man!

That means nothing. What's insured is indeed any account under 100k€, but it's insured by a fund having around 0.8% of the bank funds and only in 2024 not right now!
"The Deposit Insurance Fund would be equivalent to 0.8% of the covered deposits of all banks in the Banking Union by 2024."
http://europa.eu/rapid/press-release_MEMO-15-6153_fr.htm

This is no FUD man, if one small bank sinks no problem normally, the money should be found. But you gotta have only one and not too big.

  So it's sUpErFuD?  What are we talking about then, full scale global economic collapse or just the collapse of the European Union?
This is deposit insurance.  The failed bank will be taken over and it's assets liquidated.  What insurance scheme anywhere has to fund 100% of ALL potential liabilities?  None; nowhere and neither is it necessary.

NB. I'm not an actuary but I slept at a Holiday Inn Express last month.

Lol! There is a difference in saying it's 100% insured (which is hard I agree) and say that it's 0.8% insured!!!

I don't really call that insurance! Would you say your house is correctly insured if I promise you to repay you 0.8% of its value if it burns down?

I don't really see the FUD here...

 It IS 100% insured up to 100,000 euros payable in 20 days.  The 0.8% is the amount the insurer must have on-hand in reserve.
Your scenario would have every house insured by my insurer burn down on the same day.  The only way that's going to happen is some sort of cosmic event or "act of god" - in this case, my insurance policy would be nullified as it doesn't cover era-ending asteroids or world war.

And how will they get the 99.2% in 20 days please? --'

[markj113]

I don't agree that the taxes are not enough to pay the debit as US is always known for their financial status. Even increasing taxes is not a long term solution as it will indirectly affect people financially.

I guess they will not bother this. If USA really in a debt, there can not be issues for the citizens as the Government know how to settle their dues by increasing the taxes of the companies rather than the citizens. They never care about future consequences and about people too.

You increase the taxes on companies and a lot of people end up losing their jobs.

[Anddos]

I don't agree that the taxes are not enough to pay the debit as US is always known for their financial status. Even increasing taxes is not a long term solution as it will indirectly affect people financially.

I guess they will not bother this. If USA really in a debt, there can not be issues for the citizens as the Government know how to settle their dues by increasing the taxes of the companies rather than the citizens. They never care about future consequences and about people too.

You increase the taxes on companies and a lot of people end up losing their jobs.

This is happening in other countries as well, not just the US. And I don't think it's a good idea.

[Laosai]

I don't agree that the taxes are not enough to pay the debit as US is always known for their financial status. Even increasing taxes is not a long term solution as it will indirectly affect people financially.

I guess they will not bother this. If USA really in a debt, there can not be issues for the citizens as the Government know how to settle their dues by increasing the taxes of the companies rather than the citizens. They never care about future consequences and about people too.

You increase the taxes on companies and a lot of people end up losing their jobs.

No, companies don't pay the taxes anyway... It wouldn't do shit to increase taxes.

[xhomerx10]

 You're simply wrong.  Stop spreading FuD.

The EU sets requirements that insured deposits must be accessible for depositors within a specified time frame. Under EU rules, payout deadlines must be gradually reduced from 20 working days presently, to 7 working days as of January 1, 2024.  The insured amount is currently €100,000.

 In the USA, no depositor has ever lost a penny of insured deposits since the FDIC was created in 1933.

 Many countries have deposit insurance schemes.  Look it up man!

That means nothing. What's insured is indeed any account under 100k€, but it's insured by a fund having around 0.8% of the bank funds and only in 2024 not right now!
"The Deposit Insurance Fund would be equivalent to 0.8% of the covered deposits of all banks in the Banking Union by 2024."
http://europa.eu/rapid/press-release_MEMO-15-6153_fr.htm

This is no FUD man, if one small bank sinks no problem normally, the money should be found. But you gotta have only one and not too big.

  So it's sUpErFuD?  What are we talking about then, full scale global economic collapse or just the collapse of the European Union?
This is deposit insurance.  The failed bank will be taken over and it's assets liquidated.  What insurance scheme anywhere has to fund 100% of ALL potential liabilities?  None; nowhere and neither is it necessary.

NB. I'm not an actuary but I slept at a Holiday Inn Express last month.

Lol! There is a difference in saying it's 100% insured (which is hard I agree) and say that it's 0.8% insured!!!

I don't really call that insurance! Would you say your house is correctly insured if I promise you to repay you 0.8% of its value if it burns down?

I don't really see the FUD here...

 It IS 100% insured up to 100,000 euros payable in 20 days.  The 0.8% is the amount the insurer must have on-hand in reserve.
Your scenario would have every house insured by my insurer burn down on the same day.  The only way that's going to happen is some sort of cosmic event or "act of god" - in this case, my insurance policy would be nullified as it doesn't cover era-ending asteroids or world war.

And how will they get the 99.2% in 20 days please? --'

 Again, you're going to have to define your terms.  There are a number of insurers and they insure more than one bank.  Are you suggesting all banks under one insurer fail at once?  If not, they don't need the other 99.2%; if so, I would imagine they would simply take a loan against the value of the bank until it is liquidated.  In the US, the too-big-to-fail banks which actually weren't insured by the FDIC (or anyone) were bailed out by the govt (read taxpayers).  In Iceland, the investment banks were accidentally insured by their deposit insurance due to negligence (Icebank should not have been operated as a branch of Landsbanki) and ultimately, they defaulted and refused to pay.  Anyway, the country secured a sovereign loan from the IMF and covered all domestic deposits.

[tyz]

According a study of a European institution especially the sourthern states of Europe has banking deposits of more than 100k. I do not claim that every European has more than 100k, but the most have. Europe is the most wealthy region in to world.
But even when the people would have one fifth of the deposit on their banking account (what is very likely) it would still 100 billion.

Let me tell you with 100% certainty that very few Europeans have current accounts with €100,000 in them. 
You are confusing total wealth with bank deposits.  People have money tied up in their home and other investments, savings accounts are not for holding all of your assets especially with interest rates being at all time lows.  There would be no need for such a huge sum were all of the banks in the EU to suddenly fail.  I don't know the exact figure today but in 2010, the average EU person's bank account was around €6800

Sorry to disappoint you, this is a promise the EU and your country could not hold when it comes to extreme.
100k € times 500 million people are 500,000,000,000,000 € (in words 500 trillion).

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.

People think they have right on their money.
Whereas in reality they have right on nothing as they don't own money. Banks own money and people have bank credit that's all. If a bank closes you lose all your money.

 Not in my country, friend!  Our deposits are insured.  I get my money back if bank closes.  100% coverage up to 100k.

 

[BTCGolddigger]

According a study of a European institution especially the sourthern states of Europe has banking deposits of more than 100k. I do not claim that every European has more than 100k, but the most have. Europe is the most wealthy region in to world.
But even when the people would have one fifth of the deposit on their banking account (what is very likely) it would still 100 billion.

Let me tell you with 100% certainty that very few Europeans have current accounts with €100,000 in them. 
You are confusing total wealth with bank deposits.  People have money tied up in their home and other investments, savings accounts are not for holding all of your assets especially with interest rates being at all time lows.  There would be no need for such a huge sum were all of the banks in the EU to suddenly fail.  I don't know the exact figure today but in 2010, the average EU person's bank account was around €6800

Sorry to disappoint you, this is a promise the EU and your country could not hold when it comes to extreme.
100k € times 500 million people are 500,000,000,000,000 € (in words 500 trillion).

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.

People think they have right on their money.
Whereas in reality they have right on nothing as they don't own money. Banks own money and people have bank credit that's all. If a bank closes you lose all your money.

 Not in my country, friend!  Our deposits are insured.  I get my money back if bank closes.  100% coverage up to 100k.

 

What country do you live in.  Better yet want bank to you have. 

[el kaka22]

I don't agree that the taxes are not enough to pay the debit as US is always known for their financial status. Even increasing taxes is not a long term solution as it will indirectly affect people financially.

You are right, it might lead to inflation and finally citizens may have to suffer. Hence, bitcoins here can help a lot but still if users need to spend it, but finally it would only be taxed income.

[Laosai]

I don't agree that the taxes are not enough to pay the debit as US is always known for their financial status. Even increasing taxes is not a long term solution as it will indirectly affect people financially.

You are right, it might lead to inflation and finally citizens may have to suffer. Hence, bitcoins here can help a lot but still if users need to spend it, but finally it would only be taxed income.

Inflation is good for debt. It's the best way to decrease the debt! 10% inflation means your debt is relatively less important ^^

[Laosai]

According a study of a European institution especially the sourthern states of Europe has banking deposits of more than 100k. I do not claim that every European has more than 100k, but the most have. Europe is the most wealthy region in to world.
But even when the people would have one fifth of the deposit on their banking account (what is very likely) it would still 100 billion.

Let me tell you with 100% certainty that very few Europeans have current accounts with €100,000 in them. 
You are confusing total wealth with bank deposits.  People have money tied up in their home and other investments, savings accounts are not for holding all of your assets especially with interest rates being at all time lows.  There would be no need for such a huge sum were all of the banks in the EU to suddenly fail.  I don't know the exact figure today but in 2010, the average EU person's bank account was around €6800

Sorry to disappoint you, this is a promise the EU and your country could not hold when it comes to extreme.
100k € times 500 million people are 500,000,000,000,000 € (in words 500 trillion).

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.

People think they have right on their money.
Whereas in reality they have right on nothing as they don't own money. Banks own money and people have bank credit that's all. If a bank closes you lose all your money.

 Not in my country, friend!  Our deposits are insured.  I get my money back if bank closes.  100% coverage up to 100k.

 

Yeah. which means only 4% of what's necessary is insured.

[xhomerx10]

According a study of a European institution especially the sourthern states of Europe has banking deposits of more than 100k. I do not claim that every European has more than 100k, but the most have. Europe is the most wealthy region in to world.
But even when the people would have one fifth of the deposit on their banking account (what is very likely) it would still 100 billion.

Let me tell you with 100% certainty that very few Europeans have current accounts with €100,000 in them. 
You are confusing total wealth with bank deposits.  People have money tied up in their home and other investments, savings accounts are not for holding all of your assets especially with interest rates being at all time lows.  There would be no need for such a huge sum were all of the banks in the EU to suddenly fail.  I don't know the exact figure today but in 2010, the average EU person's bank account was around €6800

Sorry to disappoint you, this is a promise the EU and your country could not hold when it comes to extreme.
100k € times 500 million people are 500,000,000,000,000 € (in words 500 trillion).

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.

People think they have right on their money.
Whereas in reality they have right on nothing as they don't own money. Banks own money and people have bank credit that's all. If a bank closes you lose all your money.

 Not in my country, friend!  Our deposits are insured.  I get my money back if bank closes.  100% coverage up to 100k.

 

Yeah. which means only 4% of what's necessary is insured.

 No.  100% is insured and .8% is held in reserve.
Also those figures from previous poster are wayyyy off.
I'm done wasting my time with this. Look it up.

[Laosai]

According a study of a European institution especially the sourthern states of Europe has banking deposits of more than 100k. I do not claim that every European has more than 100k, but the most have. Europe is the most wealthy region in to world.
But even when the people would have one fifth of the deposit on their banking account (what is very likely) it would still 100 billion.

Let me tell you with 100% certainty that very few Europeans have current accounts with €100,000 in them. 
You are confusing total wealth with bank deposits.  People have money tied up in their home and other investments, savings accounts are not for holding all of your assets especially with interest rates being at all time lows.  There would be no need for such a huge sum were all of the banks in the EU to suddenly fail.  I don't know the exact figure today but in 2010, the average EU person's bank account was around €6800

Sorry to disappoint you, this is a promise the EU and your country could not hold when it comes to extreme.
100k € times 500 million people are 500,000,000,000,000 € (in words 500 trillion).

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.

People think they have right on their money.
Whereas in reality they have right on nothing as they don't own money. Banks own money and people have bank credit that's all. If a bank closes you lose all your money.

 Not in my country, friend!  Our deposits are insured.  I get my money back if bank closes.  100% coverage up to 100k.

 

Yeah. which means only 4% of what's necessary is insured.

 No.  100% is insured and .8% is held in reserve.
Also those figures from previous poster are wayyyy off.
I'm done wasting my time with this. Look it up.

Well as you wish. It doesn't matter whatever you believe. Fact is here, I don't see where they would find the money in case of bank crash!

[xhomerx10]

According a study of a European institution especially the sourthern states of Europe has banking deposits of more than 100k. I do not claim that every European has more than 100k, but the most have. Europe is the most wealthy region in to world.
But even when the people would have one fifth of the deposit on their banking account (what is very likely) it would still 100 billion.

Let me tell you with 100% certainty that very few Europeans have current accounts with €100,000 in them. 
You are confusing total wealth with bank deposits.  People have money tied up in their home and other investments, savings accounts are not for holding all of your assets especially with interest rates being at all time lows.  There would be no need for such a huge sum were all of the banks in the EU to suddenly fail.  I don't know the exact figure today but in 2010, the average EU person's bank account was around €6800

Sorry to disappoint you, this is a promise the EU and your country could not hold when it comes to extreme.
100k € times 500 million people are 500,000,000,000,000 € (in words 500 trillion).

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.

People think they have right on their money.
Whereas in reality they have right on nothing as they don't own money. Banks own money and people have bank credit that's all. If a bank closes you lose all your money.

 Not in my country, friend!  Our deposits are insured.  I get my money back if bank closes.  100% coverage up to 100k.

 

Yeah. which means only 4% of what's necessary is insured.

 No.  100% is insured and .8% is held in reserve.
Also those figures from previous poster are wayyyy off.
I'm done wasting my time with this. Look it up.

Well as you wish. It doesn't matter whatever you believe. Fact is here, I don't see where they would find the money in case of bank crash!

 Yep.  There is simply no way to create more money as debt.  You're right.  I give.