Terrifying $243 Trillion Global Debt Bomb is a Disaster Only Bitcoin Can Fix

[MathGame]

Global debt now stands at a terrifying $243 trillion according to a report by the Institute of International Finance this week. That’s quarter of a quadrillion. We’re in the realms of the absurd.

This is unsustainable. And it’s the fault of a broken and irresponsible monetary system, addicted to printing money and issuing credit. It’s time to admit we need a new alternative. While it’s far from perfect, bitcoin offers a viable solution with its fixed supply and regulated output. It’s time for a revolution.

$243 Trillion Debt Bomb

The record figure stands at three-times the world’s total gross domestic product (GDP). In other words, it’s three times larger than the value of all products and services on the planet.

The figure peaked in the first quarter of 2018 when it hit $248 trillion. It has since fallen back slightly. The US is among the biggest offenders. As CCN reported, total US national debt hit $22 trillion this year.

https://www.ccn.com/terrifying-243-trillion-global-debt-bomb-is-a-disaster-only-bitcoin-can-fix

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[Pab]

Debt will increase even from those numbers
debt is producing debt it is like snow ball
Will be more QE in Europe and USA
Debt become kind of money dept is like  nuclear weapon for banks
Banks will like to give loans to pay debt even.Debt is tool to own the world
If banks are to much greedy than Central Banks will use our money to rescue banks
It is problem because inflation is hided but currencies are losing his purchase power
Bitcoin in that case is just a bitcoin but for sure people with bitcoin will have some hard cash on his accounts

[Crypdon]

It is the people who suffer rather than the rich government folk and their shady deals. They will resist bitcoin as much as possible so the people need to push it forward and begin global acceptance

[alisafidel58]

I don't think that bitcoin can fix the debt problem of each and every country. Only each and every government can fix their own debt. Bitcoin is not the solution for dept, bitcoin is the solution for doing fast transaction world wide.

[stompix]

I remember this article from the Greek crisis:
https://www.bbc.co.uk/news/business-15748696


I owe Alice 20BTC , Alice owes John 15 BTC , John owes me 10 BTC.
Total debt is 45 BTC.

But let's say I get 20BTC , I pay Alice my debt, Alice pays her debt and still has 5 BTC , John pays his debt and gets 5 BTC , and I'm getting 10 BTC.

Magic!!!!!!!!

[Odessit_ya]

I remember this article from the Greek crisis:
https://www.bbc.co.uk/news/business-15748696


I owe Alice 20BTC , Alice owes John 15 BTC , John owes me 10 BTC.
Total debt is 45 BTC.

But let's say I get 20BTC , I pay Alice my debt, Alice pays her debt and still has 5 BTC , John pays his debt and gets 5 BTC , and I'm getting 10 BTC.

Magic!!!!!!!!

You are just great !!!
So simple and understandable, no one could explain to me the solution of problems in financial debts ...

PS I think it’s just a world debt relief, I don’t see any other solution.

[amrulshare]

in my opinion debt is not something new and terrible for a country, even though the debt continues to increase it doesn't matter because each country has its own statutory provisions and the corresponding percentage of debt.

[dothebeats]

They'd just do whatever it is that they want to do anyway for as long as a crash isn't happening or terribly crippling their own sorry economies. Bitcoin can only offer a temporary solution up to a certain extent, though I don't think it will ever be enough to completely mend this mess that the fiat system has created since its establishment. A complete overhaul of the system is much needed, but then again, would countries be okay in just forgetting the global debt should they decided to move forward into a less-destructive monetary system?

[el kaka22]

I still can't really completely understand how there is a 243 trillion global debt, like to who ?
This is a global debt we are talking about, who really has a debt to who exactly ? Can someone please explain that to me ?

I mean it can't be humans to aliens so it must humans to other humans or corporations basically, looking at the number it must be even corporations to corporations and even nations to nations. If there is 243 trillion debt owed in total than there must be people who are owed 243 trillion dollars to and I do not even understand how that is possible to continue without asking for it.

Let's assume USA owes China over a trillion dollars in debt because they said "manufacture me x amount of Y" and never paid for it, how the hell china paid for it to be manufactured than ? I really do not understand the math behind this 243 trillion dollars AT ALL.

[0t3p0t]

I don't think that bitcoin can fix the debt problem of each and every country. Only each and every government can fix their own debt. Bitcoin is not the solution for dept, bitcoin is the solution for doing fast transaction world wide.

I agree unless a country is backed by Bitcoin just like others that was backed by gold. Country's debt could possibly increase from time to time and only each and every government has the ability to do of fixing it. Loans are for me the new weapon used nowadays by some opportunists. I think the only solution for this is that every country has to start hoarding Bitcoins just to prevent evonomical crisis and collapse.

[Ucy]

"Regulated Output" in other words are, Government regulated cryptocurrency exchanges and regulated online shops that accept crypto?
Hope it is not what that means. Maybe I misunderstood the whole thing.

[Beerwizzard]

And what solution Bitcoin gives to us? probably to destroy the entire economy of a country and bring its residents to the stone age.
There is nothing bad in such debts until countries like USA are able to support their debts and pay for obligations.

[Zadicar]

I still can't really completely understand how there is a 243 trillion global debt, like to who ?
This is a global debt we are talking about, who really has a debt to who exactly ? Can someone please explain that to me ?

I mean it can't be humans to aliens so it must humans to other humans or corporations basically, looking at the number it must be even corporations to corporations and even nations to nations. If there is 243 trillion debt owed in total than there must be people who are owed 243 trillion dollars to and I do not even understand how that is possible to continue without asking for it.

Let's assume USA owes China over a trillion dollars in debt because they said "manufacture me x amount of Y" and never paid for it, how the hell china paid for it to be manufactured than ? I really do not understand the math behind this 243 trillion dollars AT ALL.

When it comes or do talk about World Debt, Ive been always questioning my mind on whose the one do supplies those funds if it do circulates entirely on every nation that who have debts?
Sometimes these curiosity leads me out to some conspiracy theories once again   (Ex. Rothschild) once again.

Once again, Bitcoin wont able to solve that Global debt no matter which angle we do try to look at.

[coolcoinz]

I still can't really completely understand how there is a 243 trillion global debt, like to who ?
This is a global debt we are talking about, who really has a debt to who exactly ? Can someone please explain that to me ?

I mean it can't be humans to aliens so it must humans to other humans or corporations basically, looking at the number it must be even corporations to corporations and even nations to nations.

Let me try.

You're close. Global debt is of course humans to humans, but mainly private sector to the governments. When private banks got in trouble and we had all that drama with bailouts, they become indebted to the governments and fallen into a sort of status quo, where the governments need banks to stay afloat, but the banks cannot repay their loans. In an ideal world they would either pay or go bankrupt, but since the bankruptcies would create chaos the governments aren't taking action to reclaim what they are owed and the debt keeps growing.

They could forget about it, nullify it, because money that weren't used in the budget for a given year are no longer necessary to sustain the economy and the needs of the people, but this debt gives the government influence over the private sector. They can use it to leverage deals, force compliance, increase taxes, lower interest rates.
Do you remember how 20 years ago some banks were offering you 6% a year on your deposits and that number kept going lower and lower? Nowadays 3% is a fair deal and many banks go as low as 1%.

[Oceat]

It is the people who suffer rather than the rich government folk and their shady deals. They will resist bitcoin as much as possible so the people need to push it forward and begin global acceptance

No matter what we do those debts will never go away and it will be pass to all of our generations. Banks are too greedy that even if they don't say they are but people will tell. The government will not be going to do anything about it and it will continue to grow more than what we paid for.

[kryptqnick]

It's great if the global debt situation is similar to what stompix outlined, but if it's a real thing, then it might as well be the reason for the next global economic crisis to occur.
I strongly agree with an article, and it's basically what I've been trying to say for a while on this forum. I believe that fiat as a model is bound to fail, because relying on humans not printing too much money in the fear of hyperinflation is too risky. Obviously, it stimulates printing as much as possible and living it on the edge of the outbreak or perhaps even on a catastrophic level, hidden under lawyers of complicated explanations and lies. Bitcoin is a natural alternative and a cure to many issues with the biggest downside being volatility, which would probably decrease if more people were using it.

[Script]

Bitcoin is a natural alternative and a cure to many issues with the biggest downside being volatility, which would probably decrease if more people were using it.

Yes, this is a huge problem that we feel every day more and more. Our money is depreciated, goods and services are becoming more expensive every day. And it is clear to everyone that, unfortunately, it will not be better. But, please,  explain to me,  how can Bitcoin help the World in this global financial bubble?

[MakeMoneyBtc]

The debt problem is never going to stop or disappear because it is actually a good thing for banks and governments. Back when Clinton was a president they worried about not having enough debt, now they are worrying about having to much dept but the thing is the economy cannot work without debt.

[STT]

We’re in the realms of the absurd.

Its debt tied to the value of nothing. I guess default on this debt represents deflation as opposed to inflation if the debt should stand and keep on being used while never repaying it original principal amount.    So long as governments are able to operate in deficit without interruption theres never any net debt that will be reduced.   Its really upto creditors if they choose to allow this cycle of debt instead of goods, since trade is in deficit also.   A large part of this is communist china which does not allow its own people to realise capital worth properly

the economy cannot work without debt.

debt is part of trade but it is the exchange of goods that is the purpose to debt.   Right now we have political debt, incurred by governments which are unable to produce themselves.   The end game for this debt is default, its built on the idea of future GDP growth to repay worth but like the Greece situation there will never be enough growth to repay without massive cuts to budgets somewhere

[Bitinity]

I think the meaning of "bitcoin can fix global debt" is not to use bitcoin to pay the debt. Bitcoin is just an example on how fiat currency should be, means that there should be a big change on the currency system of every country to make their fiat money into fixed supply like bitcoin so banks wont be able to print more money than they should.

[cryptjh]

The debt is now so deep, that it will be impossible for most of the biggest lenders to pay back their debt, the only way it can be done are from QE where the central bank's prints money to buy back debt, with a negative interest, so the borrows get money to lend. This will, however, drive the circulations of money up, and In the end, people will stop trusting other countries money, which will lead to hyperinflations.

Here will bitcoins use case as a store of wealth and peer to peer payment be a way to store great amounts of wealth.

[SvonioneFromMangoCoinz]

 That debt number does not show any major influence on the world economy. According to what I know, those debts only increase the link between countries. That is the cost of cooperation and development between countries in other areas. they can use that debt to exchange with economic contracts between countries.
So you should not worry too much about debts.

[Indrawan77]

I don't think bitcoin could be the answer for the debt problem, bitcoin was not design to solve this problem, and the number of the debt is increasing faster than the bitcoin growth, the debt need to settle by each country, and in my opinion there won't be any country able to settle the debt, the debt is needed to develop and improve the country especially in developing countries

[Adriano2010]

Bitcoin can only solve the problem one time, but if countries take again loan from another countries then again the debt will be and can't be fixed always by crypto.

[akram143]

How it can possible the proper plants will only make it possible so the the thing is to be more clear cut and the execution proper things will make it successful and this type of disasters will not affect this things that's why and trusting it.

[Lanatsa]

Bitcoin wont solve out this Global Problem so this topic is total BS. Nothing can be fixed and no would able to.It would continue for countries to borrow out money but the question is on
where these money came from? There would be always a source of these funds but i dont really have concern at all but one things for sure.Bitcoin cant solve this out.

[Thirdspace]

And it’s the fault of a broken and irresponsible monetary system, addicted to printing money and issuing credit. It’s time to admit we need a new alternative. While it’s far from perfect, bitcoin offers a viable solution with its fixed supply and regulated output. It’s time for a revolution.

it's true...
but when the world finally accepted use of bitcoin as global currency,
what's the guarantee there won't be any institutions issuing bitcoin credit
the problem is this so called credit and interest that makes debt accumulation over time

I owe Alice 20BTC , Alice owes John 15 BTC , John owes me 10 BTC.
Total debt is 45 BTC.

But let's say I get 20BTC , I pay Alice my debt, Alice pays her debt and still has 5 BTC , John pays his debt and gets 5 BTC , and I'm getting 10 BTC.

Magic!!!!!!!!

the magic is how/where you get that 20BTC to pay off your debt

[rizkyhiw]

There is a beginning of debt, which is by having an agreement or negotiation, so that everything depends on the bank government, it will not be greedy if we do not propose to borrow, not to propose anything if it is still possible with which decentralization benefits without government interference.

[BitHodler]

Bitcoin can only solve the problem one time, but if countries take again loan from another countries then again the debt will be and can't be fixed always by crypto.

Bitcoin can't solve anything as long as the governments themselves are still following the old path of debt. Why do you think debt is still a thing today? I don't wait for governments to change, I made sure I changed myself.

Bitcoin is power to the people, the people however still have a hard time understanding that. I'm afraid that only an implosion of a country or currency will wake them up, but at that point it for some people may be too late to act already.

People somehow always need to be reminded of how badly this system sucks. Most of those who genuinely believe in Bitcoin have gone through situations that made them appreciate Bitcoin for what it is.

[Shenzou]

Well this debt has been growing over hundreds of years, and most of the countries that have this debt are third world countries where their economic and social situation is fairly unstable, and this is something that will never be resolved, it is true that fiat has created this difference between the countries and a difference in power, but even if we replace fiat with bitcoin which has limited supply, the problem will still priciest and countries with bad economy will still be at a disadvantage. 

[stompix]

I owe Alice 20BTC , Alice owes John 15 BTC , John owes me 10 BTC.
Total debt is 45 BTC.

But let's say I get 20BTC , I pay Alice my debt, Alice pays her debt and still has 5 BTC , John pays his debt and gets 5 BTC , and I'm getting 10 BTC.

Magic!!!!!!!!

the magic is how/where you get that 20BTC to pay off your debt

Pretty simple, I take a loan from Mike.
Since I take a loan of 20 BTC and I get 10 BTC back from John so my overall, total and only debt will be 10 BTC.
Not 45BTC.

You see, magic!
And if you check the article I quoted, this is just the situation with the debt of European countries, where France owes money to Spain and Germani, Germany to Spain and France and Spain to Germany and France 

[STT]

The magic is the productive benefit to all parties, comparative advantage in trading from goods at sourced price cheaper then you otherwise would have access to.   The simple gain from food from a better climate then you have and vice versa skills you provide to a country that might not otherwise be as capable.

The losses in trading, in transport and in the money itself not being a perfect system.  Thats justifiable but when we introduce QE and other nonsense there isnt gain in the trade for anyone except perhaps politics which gets itself off the hook for horrible mistakes made.    The real problem is the mistake is never acknowledged but repeated and the damage done on each repeat of the mistake becomes worse for all.
In the end a market will destroy itself, because this is how the mistake is ended.   Unfortunately we have not yet reached this point, how this relates to crypto is not really known as in theory there are already alternatives to FIAT currency which has leant on QE too much.   So I dont imagine BTC will take over, thats too simple unfortunately but it will be of some use

[TheCoinGrabber]

$243T is probably a modest estimate. It could be far larger than we might think of. The problem is that these institutions have every incentive to keep this going - their survival depend on it, public be damned. That's why we are seeing more push to regulate cryptocurrencies.

[mersal]

Global debt now stands at a terrifying $243 trillion according to a report by the Institute of International Finance this week. That’s quarter of a quadrillion. We’re in the realms of the absurd.

This is unsustainable. And it’s the fault of a broken and irresponsible monetary system, addicted to printing money and issuing credit. It’s time to admit we need a new alternative. While it’s far from perfect, bitcoin offers a viable solution with its fixed supply and regulated output. It’s time for a revolution.

$243 Trillion Debt Bomb

The record figure stands at three-times the world’s total gross domestic product (GDP). In other words, it’s three times larger than the value of all products and services on the planet.

The figure peaked in the first quarter of 2018 when it hit $248 trillion. It has since fallen back slightly. The US is among the biggest offenders. As CCN reported, total US national debt hit $22 trillion this year.

https://www.ccn.com/terrifying-243-trillion-global-debt-bomb-is-a-disaster-only-bitcoin-can-fix

this type of things will not been solved by anything but how can we say this is the only way available to get the normal position using Bitcoin only the government and the people in the country will been think about that and we need to be more clear about the future without these changes.

[Harlot]

You the problem here is when we are talking about global debt we are talking about the governments of countries who owed them and thinking that they will be betting big in Bitcoin or any other cryptocurrency is a ridiculous thing to imagine as the risk for the solution is considerably high compared to the nornal investments the government is used to doing. Next time you provide an article made it at least believable on our part as this article is only a waste of time.

[okala]

The monetary system have failed and have leed the world economy into unrecoverable debt and only a radical approach will safe the world economy from collapsing, if the world powers such as the US and the rest should look into cryptocurrency as a savior of this economic crisis.

[creeps]

Bitcoin can only solve the problem one time, but if countries take again loan from another countries then again the debt will be and can't be fixed always by crypto.

The government will not stop from borrowing, even a rich country have their own debt so bitcoin can't fix this problem blockchain technology and bitcoin will be an option. Crisis can happen soon because of this global debt, the China debt trap also affects this one many Asian countries are on this trap just like Sri Lanka, and Philippines might be next for this one. Hopefully bitcoin can help those developing country so they don't need to borrow big funds and suffer later on.

[avikz]

Global debt now stands at a terrifying $243 trillion according to a report by the Institute of International Finance this week. That’s quarter of a quadrillion. We’re in the realms of the absurd.

This is unsustainable. And it’s the fault of a broken and irresponsible monetary system, addicted to printing money and issuing credit. It’s time to admit we need a new alternative. While it’s far from perfect, bitcoin offers a viable solution with its fixed supply and regulated output. It’s time for a revolution.

$243 Trillion Debt Bomb

The record figure stands at three-times the world’s total gross domestic product (GDP). In other words, it’s three times larger than the value of all products and services on the planet.

The figure peaked in the first quarter of 2018 when it hit $248 trillion. It has since fallen back slightly. The US is among the biggest offenders. As CCN reported, total US national debt hit $22 trillion this year.

https://www.ccn.com/terrifying-243-trillion-global-debt-bomb-is-a-disaster-only-bitcoin-can-fix

Few fact checks for you:

1. No country prints money out of thin air. If someone tries to do it, scenario like Venezuela and Zimbabwe happens!

2. Bitcoin is just a virtual currency and not a magic wand.

3. USD is a major currency which is used for majority of the international trade settlements.

Now, it looks great on books when you say, "it's time for  revolution!"

My question is HOW?? I don't see bitcoin solving this problem in any way!

[Kevin77]

Bitcoin is just a system where you can not really have trust without regulations. If the governments of the world come together and decide that banks can give out loans in bitcoin but somehow put the ledger on a way that you have to pay your loan back otherwise same thing would happen if you do not pay your fiat loan back than the debt will continue.

If they do not try something like that you either own bitcoin or not and that means no more debt, people would have to live with the money they have and not with the money they owe, it will hurt everyone for the longest time and finance will be in dark ages for a while but honestly it would totally solve all this debt crisis everywhere in the world. There is only a certain amount of bitcoin and rich can't have it all which is the best thing about bitcoin.

[buwaytress]

Nice to see the majority of responses here agree that sweeping statements about Bitcoin really aren't helpful, not against a sick and corrupt financial system, certainly not for Bitcoin advocacy.

Tackling this debt issue is just one aspect of correcting a system long known to be flawed. It needs practical steps, but it needs acceptance first. The system is still in denial. It can create money without debt, for example, but it doesn't want to. It can require full backing of reserves for deposits, which is what an IMF proposal believes can single-handedly alleviate many symptoms.

Bitcoin cannot take those issues away.

[pushups44]

What the world's central banks will likely do, according to economist Jim Rickards, is inflate their way out of their sovereign debts. This will cause a devaluation of fiat currencies that will be very bullish for bitcoin, which is only mildly inflationary according to its design.

[LeGaulois]

Sometimes I wonder if the simplest solution to the worldwide debt isn't to just reset the finance system and then reshape fully how we use the money. Maybe that's what the Illuminati are trying to do and get Bitcoin as the worldwide currency   The IlluminatiPost Economist sent a subliminal message 3 months ago predicting a sad year for the finance in 2019. Maybe the crash we're waiting...

[Airbuxf]

If there is a debt in economy there is no problem. Problem start if debt become bigger than assets possible to produce and services in economy. Bitcoin/Gold/other assets can't fix this situation, the only way is to crash on market and stop to borrow more money.

[Thirdspace]

Pretty simple, I take a loan from Mike.
Since I take a loan of 20 BTC and I get 10 BTC back from John so my overall, total and only debt will be 10 BTC.
Not 45BTC.

if that is the case then we can use the same thing in fiat situation (without asking how mike obtain his 20 BTC)
but as they continuing life, they will need money
as long as each person's productivity is less than expense, they will be back in debt again
and total debt accumulation will always rising, if total productivity cannot overcome expense and interest

[whirlcoin]

Global debt now stands at a terrifying $243 trillion according to a report by the Institute of International Finance this week. That’s quarter of a quadrillion. We’re in the realms of the absurd.

This is unsustainable. And it’s the fault of a broken and irresponsible monetary system, addicted to printing money and issuing credit. It’s time to admit we need a new alternative. While it’s far from perfect, bitcoin offers a viable solution with its fixed supply and regulated output. It’s time for a revolution.

$243 Trillion Debt Bomb

The record figure stands at three-times the world’s total gross domestic product (GDP). In other words, it’s three times larger than the value of all products and services on the planet.

The figure peaked in the first quarter of 2018 when it hit $248 trillion. It has since fallen back slightly. The US is among the biggest offenders. As CCN reported, total US national debt hit $22 trillion this year.

https://www.ccn.com/terrifying-243-trillion-global-debt-bomb-is-a-disaster-only-bitcoin-can-fix

I think the Bitcoin has no route to make this possible and possibly it will not been happened in any kind of situation their Economics is always been normal and the people in this world are always using the country currency for making a transaction and Bitcoin is also one of the important thing it's not to develop the people in this world.

[stompix]

Pretty simple, I take a loan from Mike.
Since I take a loan of 20 BTC and I get 10 BTC back from John so my overall, total and only debt will be 10 BTC.
Not 45BTC.

if that is the case then we can use the same thing in fiat situation (without asking how mike obtain his 20 BTC)
but as they continuing life, they will need money
as long as each person's productivity is less than expense, they will be back in debt again
and total debt accumulation will always rising, if total productivity cannot overcome expense and interest

Well, that's true but I wasn't referring to the mechanism behind the accumulating debt.

My post was simply aimed at those scared of hundred of trillions that assumingly we all owe to...something or somebody, but nobody has ever told who that something is

Besides, wow, 243 trillion debt in an economy of 80 trillion, the horror...
My mortgage was 175 000 euros and I was making 28 000 a year when I took it....

Nice to see the majority of responses here agree that sweeping statements about Bitcoin really aren't helpful, not against a sick and corrupt financial system, certainly not for Bitcoin advocacy.

Bitcoin cannot take those issues away.

No, it can't and it won't.
Just as business and government and countries have gone bankrupt during the gold standard so will they even with a crypto economy.
There is no system that can prevent a country or its economy collapse and bitcoin can't do anything either.

Thinking that we can just go from fiat to BTC and everything will go away is childish.
 

[jjjfff]

Well the $243 trillion are going to be over $ 300 trillion by the end of this year.

If you took every penny produced by the USA and Europe for 20 years just to pay debt, you'd still not pay up the $300 trillion. Next year it'll be 320 trillion.

Europe has just announced they will continue to print money in 2020. China prints 200 to 500 billion Yuan whenever they feel the market has dropped too much.

Central bank money is toy money. They print money whenever the markets drop.

Look at the S&P500 and FED printed money correlation:



They openly manipulate the market. As long as the Fed is printing money for their buddies, the market goes up. There is no real value being generated.

Everyone is working more and more to keep up with this. In 1980 you'd be able to graduate and buy a house. Everyone bought homes then. Now you can't.

Millenials can't even afford to buy a home because bankers and the wealthiest have bought everything. Most of them are paying up college debt. Debt! Before life even starts, debt is all over your life.

They keep printing debt they'll never pay. Fake monopoly money!

Here's another terrifying chart. Look at how much money they printed in 2008!



When your business runs out of money does anyone print money for you? Does your family catch a break? No. The banking thieves do! They print money for themselves.

Just look at that chart and tell me that's normal?

We are living in a Ponzi scheme. They keep printing their fake money and we must work ever more to make up for it. The whole world is getting exploited by a dozen people.

Think about this for a while : an offshore bank with little regulation can basically make up money out of thin air. Nobody would ever find out. Banks are robbing you 24x7.  It's fake toy money!

A system with an algorithmic money emission, not controlled by politics and thieves, is the only way to get transparency to start fixing the greatest fraud in human history (fractional reserve banking).

[playboy654]

Handling this type of things with a single currency will not been possible at any time and Bitcoin had the ability but anything need the support from the others that's why if total cryptocurrency field will made a chance then it is possible to happened.

[WinslowIII]

I still can't really completely understand how there is a 243 trillion global debt, like to who ?
This is a global debt we are talking about, who really has a debt to who exactly ? Can someone please explain that to me ?

I mean it can't be humans to aliens so it must humans to other humans or corporations basically, looking at the number it must be even corporations to corporations and even nations to nations. If there is 243 trillion debt owed in total than there must be people who are owed 243 trillion dollars to and I do not even understand how that is possible to continue without asking for it.

Let's assume USA owes China over a trillion dollars in debt because they said "manufacture me x amount of Y" and never paid for it, how the hell china paid for it to be manufactured than ? I really do not understand the math behind this 243 trillion dollars AT ALL.

Governments can't just add fiat to their economies with no repercusions. They must account for every newly added dollar, yen, peso etc. So each year to make ends meet they add new fiat to their budgets - think of it as a loan to themselves, the payment of which is pushed on to some future generation - so they can continue moving forwards. Without this creation of new fiat, all of the money spent by the government from social security, medicare/medicaid, prisons, military etc etc etc etc etc would fall short. Why? because taxes collected aren't enough to cover all the expenses plus the devaluation of the dollar plus payments on national debt bought by other countries plus about a zillion other bullshit bills.
In other words, we are FUCKED. Instead of buying bitcoins, we should all be buying guns, ammo, long lasting food and fuel. When the shit hits the fan and the house of cards falls it's gonna be a major depopulation event.

[Naida_BR]

This debt cannot be fixed by anyone. Bitcoin is not a debt deleter but an alternative to this bubble.
If someone holds bitcoin can escape from the negative consequences that debt is going to create in the society.

[el kaka22]

The terrifying debt was caused by greedy people who wanted to make more money from money itself, when you are a farmer you grow crops and sell, when you are a tailor you saw clothes and you sell, most of the business in the world runs on the idea that you have a product and you sell it, not banks.

Banks have money and they make more money with money they have and when they can't that turns into debt but there was no product in the start so they lost money they didn't have, they bet 2 dollars on a 1 dollar bet and when they lose there is a 3 dollar debt whereas money was 1 dollar so there is a fictional debt that doesn't really exists. Unless we stop this mentality there is absolutely no way we can stop the debt crisis and nothing bitcoin can do about it.

[neonshium]

Exactly, we are going to see a lot of countries entering into recession because of the numerous amount of debt they have acquired for themselves over time and they will look for an alternative to get their countries economy back to a good state, this is where bitcoin and other crypto with great potentials will come in, this is why I keep telling my friends and all members of my family to make sure they have possession of bitcoin.

[mtmitat]

everything will be very nice but begin global acceptance

[alyssa85]

Sometimes I wonder if the simplest solution to the worldwide debt isn't to just reset the finance system and then reshape fully how we use the money. Maybe that's what the Illuminati are trying to do and get Bitcoin as the worldwide currency  The IlluminatiPost Economist sent a subliminal message 3 months ago predicting a sad year for the finance in 2019. Maybe the crash we're waiting...

80% of Japanese govt debt is actually held by the Bank of Japan, purchased with printed money.

They won't "wipe out" the debt, but they'll basically turn it into a perpetual that never needs to be paid back apart from interest. And the interest payments on it are something stupid like 0.1%.

Pretty sure the ECB is going to do the same thing with the govt debt they've bought. They won't officially wipe it out, they'll just declare it never needs to be redeemed by tax money.

[slaman29]

80% of Japanese govt debt is actually held by the Bank of Japan, purchased with printed money.

They won't "wipe out" the debt, but they'll basically turn it into a perpetual that never needs to be paid back apart from interest. And the interest payments on it are something stupid like 0.1%.

Pretty sure the ECB is going to do the same thing with the govt debt they've bought. They won't officially wipe it out, they'll just declare it never needs to be redeemed by tax money.

0.1% is going to stop being something stupid with the power of compounding and as soon as 1 or two missed payments allocate interest, then we'll be seeing millions flowing. But isn't Japan anyway having negative interest rates already? So maybe they don't even need to pay anything or pay back smaller and smaller repayments. How does that work actually?

[STT]

Japan owns 1 trillion of US treasury debt, thats the scary thing there.   If BOJ could somehow declare itself unable to pay debts and start over and that event was resolved with an end to it then perhaps it could be some positive and the world moves on.     A large part of why BOJ can get away with that strategy is that the debt is owned by Japanese people and corporations.   Certainly there is loss but its within the country and its one of the richest countries, its a question of accounting for that loss now in a proper way.

However if Japanese debt then means a trigger to USA debt and its failings then we have contagion and the matter spreads around the globle possibly.   This means Japan suffers from falling business outside its borders, secondary effects occur that knock onto greater losses then just the BOJ debt.   This is where nobody knows what could happen in total and also the reason I think why BOJ never resolves its debt problem, nor the FED or the ECB and so on

[KennyR]

The ROI for the debt gets added regularly. This is how the debt keeps on increasing and from the overview it seems to be destructive. This is the common way of economic failure and I don't think this can be fixed with bitcoin, from my view if there is huge price pumping after adding it to the governance there might be little benefit. Other than this the volatility is always a concerned feature that make economic collapse with huge funds.

[STT]

The fix via Bitcoin would be to have an independent system of value not related to poltics, not debased by politics and not reliant on more debt being produced for its continuation.    I dont think Bitcoin will be the only medium if we had an absence of US dollar tomorrow but it'd be a useful one with its own features across a whole spectrum of alternatives to take the load from FIAT failure.  
As I mention above USD is unlikely to fail or decline alone, its going to be many systems together and at present its linked to government debt and their ability to pay.
  People arent ultimately responsible for that failure, many people were not even born when this debt was originally incurred hence its a legacy problem.   BTC is new and not subject to debt, I think it will be useful then but must develop greater capacity.

https://www.zerohedge.com/news/2019-05-01/minsky-moment-starting-2024-all-us-debt-issuance-will-be-used-pay-interest-debt?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29

I spotted this posted elsewhere on the forum and its highly relevant, its still true that the vast majority of the population and even people on this forum are going to get blind sided by this debt dynamic.   There is no real cure in play