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.