World debt and currency reset

[Polo7]

What the Governments do about that?

Do you think they can just wipe off the debt..


Let's Say people own debt what they cant repay so the government can just restart everything  all over again people debts will be just deleted and everything will start again?


What You think what the government will do Around the world? 

Are they gona replace the currency with other currency? 

They will let the economy to fall Down

They will restart the whole system and nobody have no debts at all.

[palle11]

They will restart the whole system and nobody have no debts at all.

There is possibility for that. There is what is called debt forgiveness. The government do that sometimes to its
states when it is obvious that the debt is too much or sometimes, some part of the debts are cancelled.

[electronicash]

They will restart the whole system and nobody have no debts at all.

There is possibility for that. There is what is called debt forgiveness. The government do that sometimes to its
states when it is obvious that the debt is too much or sometimes, some part of the debts are cancelled.

no. that is not possible. you think you will just delete all and get away with it if you have debt to pay to me? will be beat up by the bunch of mobsters i will hire to take the valuable things you own. if you own money to someone and you can't pay in the agreed date, your ass belongs to them.

the government will keep stealing from their people to pay debts thats how it works. if it meant they will inflate their money they will do it to show they are doing something.

[exstasie]

What the Governments do about that?

Do you think they can just wipe off the debt..

Let's Say people own debt what they cant repay so the government can just restart everything  all over again people debts will be just deleted and everything will start again?

That's effectively what happens in a currency collapse. If you own debts denominated in a worthless currency, the debts are worthless. That effectively means debtors are liberated and lenders lose everything.

Let's say the US defaults on its debts and the USD collapses.

What You think what the government will do Around the world? 

Are they gona replace the currency with other currency?

When America sneezes, the world catches a cold. If the USD collapsed there would be a global financial meltdown. Other economies are intimately tied to the US economy, whether through manufacturing and trade, debt financing, etc. It would probably lead to the collapse of other fiat currencies and cause a global currency reset.

[LUCKMCFLY]

The system always has failures, is based on debt, the 2008 crisis was the fault of the bank, it is predicted that the next fall will be by the same bank.

There is no need to panic anymore, Bitcoin represents a form of refuge for money, some investors are waking up and are buying Bitcoin, some who do not trust technology and in this market buy gold, but digital gold is present and is Bitcoin

According to recent studies, between Visa, Master Card, PayPal and Bitcoin, Bitcoin is a third option, barely 10 years old, its adoption today is getting stronger, as time goes by people will prefer Bitcoin as better means of payment, the world economy is dominated by the hegemony of the dollar, it is obvious that it has always been this way, in case of the crash, they will begin to recover through Gold and Bitcoin, and Argentina and Venezuela have it clear, so their high volumes In negotiations with Bitcoin, now Chile is joining this trend, the reason is simple, it is a deflationary economy, used as a great refuge, if the crash occurs, the important thing is to have the diversification of money with Bitcoin, that way, we will be safe.

[Polo7]

They will restart the whole system and nobody have no debts at all.

There is possibility for that. There is what is called debt forgiveness. The government do that sometimes to its
states when it is obvious that the debt is too much or sometimes, some part of the debts are cancelled.

no. that is not possible. you think you will just delete all and get away with it if you have debt to pay to me? will be beat up by the bunch of mobsters i will hire to take the valuable things you own. if you own money to someone and you can't pay in the agreed date, your ass belongs to them.

the government will keep stealing from their people to pay debts thats how it works. if it meant they will inflate their money they will do it to show they are doing something.

That's when You borrow the real money all ready created printed money!

[Polo7]

The system always has failures, is based on debt, the 2008 crisis was the fault of the bank, it is predicted that the next fall will be by the same bank.

There is no need to panic anymore, Bitcoin represents a form of refuge for money, some investors are waking up and are buying Bitcoin, some who do not trust technology and in this market buy gold, but digital gold is present and is Bitcoin

According to recent studies, between Visa, Master Card, PayPal and Bitcoin, Bitcoin is a third option, barely 10 years old, its adoption today is getting stronger, as time goes by people will prefer Bitcoin as better means of payment, the world economy is dominated by the hegemony of the dollar, it is obvious that it has always been this way, in case of the crash, they will begin to recover through Gold and Bitcoin, and Argentina and Venezuela have it clear, so their high volumes In negotiations with Bitcoin, now Chile is joining this trend, the reason is simple, it is a deflationary economy, used as a great refuge, if the crash occurs, the important thing is to have the diversification of money with Bitcoin, that way, we will be safe.

Then why btc is still under 10k? 

Bitcoin liquitity is not enough to be accepted everywhere! 
And confirmations are slow,  indedd with visa or master card pos are instant transfers! 

There is all ready Confusing and fear but Bitcoin still not strong  If the Bitcoin is king it should be Worthed More! 

And ETH should be at least  1000 $

So crypto is under valued!

[Polo7]

But I think the banks and government will wipe of some ammount of debt.

I think it comes down to mortgage owners i think the mortgage debts will be wiped off.


Some how the world must Go on... Government is not interested about panic or massive collapse...
They Want people will produce and economy will Go on.

The debt deleting is only option here what i see!
Other options like letting the crisis coming are much more painful and over all much more expensive since it cost a lot money to run military Operation when are in martal law situation.

[electronicash]

But I think the banks and government will wipe of some ammount of debt.

I think it comes down to mortgage owners i think the mortgage debts will be wiped off.


Some how the world must Go on... Government is not interested about panic or massive collapse...
They Want people will produce and economy will Go on.

The debt deleting is only option here what i see!
Other options like letting the crisis coming are much more painful and over all much more expensive since it cost a lot money to run military Operation when are in martal law situation.

there is no deleting. a country's military power matters as well.

if your country owes from China, you will have to negotiate what could happen. a result could be china will own a vast land in your country. for a country to loan there will be collateral just like if you loan someone here in the forum. they'd put pressure on you by sending fleets, mine your resources. or you accept to have a Chinese president in your country, hows that for a trade of debt?

[hello_good_sir]

What the Governments do about that?

Do you think they can just wipe off the debt..

No, it'll be impossible, countries all owe debt to each other, and one country might owe an amount and another country might owe them money... It's the world cycle.

Let's Say people own debt what they cant repay so the government can just restart everything  all over again people debts will be just deleted and everything will start again?

That's never going to happen, I'm pretty sure slowly but surely the debt epidemic will just vanish.

What You think what the government will do Around the world? 

Are they gona replace the currency with other currency? 

They will let the economy to fall Down

They will restart the whole system and nobody have no debts at all.

Resetting it isn't an option, it'll be too large scale to do it, and replacing their currency with a completely new one will not work, and still won't wipe any debts, as well as it being just a complete waste of time.

[palle11]

They will restart the whole system and nobody have no debts at all.

There is possibility for that. There is what is called debt forgiveness. The government do that sometimes to its
states when it is obvious that the debt is too much or sometimes, some part of the debts are cancelled.

no. that is not possible. you think you will just delete all and get away with it if you have debt to pay to me? will be beat up by the bunch of mobsters i will hire to take the valuable things you own. if you own money to someone and you can't pay in the agreed date, your ass belongs to them.

the government will keep stealing from their people to pay debts thats how it works. if it meant they will inflate their money they will do it to show they are doing something.

This is about a government letting go of certain debts for the comprising/federating unit and not a government wiping off an individual debt to the government, an organization or agency, no.
I believe the government can do that inform of what is called bailout if her citizens are getting impoverished where the state government can't fund the state properly as a result of debt servicing to the central, maybe like in a con federal system.

[livingfree]

A reset is impossible to happen IMO.

If the debt has been huge enough, do you think that the lender will just allow it to pass? there's a massive resources, time and wealth that has been used for that debt and a reset will be the solution? I don't think that they'll allow that to happen.

As for the wiping out the debt, the interest makes it even higher so I don't think it would come.

[samcrypto]

What the Governments do about that?

Do you think they can just wipe off the debt..


Let's Say people own debt what they cant repay so the government can just restart everything  all over again people debts will be just deleted and everything will start again?


What You think what the government will do Around the world? 

Are they gona replace the currency with other currency? 

They will let the economy to fall Down

They will restart the whole system and nobody have no debts at all.

There will be a big war if the world debt are gone. Example here is China and USA, we all know that despite of the trade war USA has a lot of debt to China and he needs to pay that and there’s no say to restart that debt because it will continue to increase over the years. There’s no such thing like rebooting the whole system, we are all trap on big debts.

[bitsurfer2014]

Governments are clearly manipulating their economies and monetary system and that World debt will continue to inflate not unless a significant intervention happens - possibly from crypto industry!

Interestingly, just came across this article -  ‘Plan A Has Failed’ — Global Debt to Hit $255T or $12.1M per Bitcoin that clearly demonstrate that the world economy might implode and that it highlights Bitcoins importance in contrast with fiat economy!

Never before has the combined debt of the world been so high. As Bitcoin continues to rise in prominence, efforts have increased to educate consumers about its benefits as hard money — money which no authority or single actor can manipulate.

[exstasie]

A reset is impossible to happen IMO.

If the debt has been huge enough, do you think that the lender will just allow it to pass? there's a massive resources, time and wealth that has been used for that debt and a reset will be the solution? I don't think that they'll allow that to happen.

That's what happens with uncollectable debts. What else are they going to do? If the US defaults on its debts to China, what is China going to do about it, invade the US with their military?

[1Referee]

Interestingly, just came across this article -  ‘Plan A Has Failed’ — Global Debt to Hit $255T or $12.1M per Bitcoin that clearly demonstrate that the world economy might implode and that it highlights Bitcoins importance in contrast with fiat economy!

When the world economy implodes I doubt that anyone would even slightly care about Bitcoin.

In fact, I strongly believe that as long as Bitcoin is a risk-on asset, it's much better for Bitcoin to have the world economy to not implode. The more confident investors and institutions are in the economy, the more risk they are willing to expose themselves to, which is what we have seen with stocks and other risk-on assets. They keep increasing.

Bitcoin needs much more time to grow on non crypto people as store of value and safe haven asset. How much time I can't say, but I presume at least another decade.

[ecnalubma]

But I think the banks and government will wipe of some ammount of debt.

I think it comes down to mortgage owners i think the mortgage debts will be wiped off.


Some how the world must Go on... Government is not interested about panic or massive collapse...
They Want people will produce and economy will Go on.

The debt deleting is only option here what i see!
Other options like letting the crisis coming are much more painful and over all much more expensive since it cost a lot money to run military Operation when are in martal law situation.

there is no deleting. a country's military power matters as well.

if your country owes from China, you will have to negotiate what could happen. a result could be china will own a vast land in your country. for a country to loan there will be collateral just like if you loan someone here in the forum. they'd put pressure on you by sending fleets, mine your resources. or you accept to have a Chinese president in your country, hows that for a trade of debt?

This is what likely to happen, theres no such thing as deleting debts its total scifi lol. A country fail to pay for its debts sometimes embargoed and not entertain anymore if they need help to. For a country to have a good reputation they should pay their obligations to their neighbours to avoid conflict.

[Aabcde]

the fact is that no government in the world can erase someone's debt because debt is an obligation that must be fulfilled. On the other hand, even though we have no debt to the government but in fact we still have a state debt that is actually borne by each individual country since he was born. Therefore it is very ironic. People do not know anything but bear the debt since he was born into the world.
I think debt will disappear when all the world's financial models are destroyed and returned to barter.

[bitsurfer2014]

When the world economy implodes I doubt that anyone would even slightly care about Bitcoin.

In fact, I strongly believe that as long as Bitcoin is a risk-on asset, it's much better for Bitcoin to have the world economy to not implode. The more confident investors and institutions are in the economy, the more risk they are willing to expose themselves to, which is what we have seen with stocks and other risk-on assets. They keep increasing.

Well sooner or later, those Governments that are doing some kind of financial stunts would one day start to feel the symptoms preceding to financial meltdown. And of course they have to take risks as much as they can just to keep their economy afloat unmindful of a possible financial catastrophe that might happen!

Bitcoin needs much more time to grow on non crypto people as store of value and safe haven asset. How much time I can't say, but I presume at least another decade.

Absolutely! It would be better if Bitcoin's advantages will be recognized and be allowed to grow with confidence among non crypto people though I think a decade will not be enough to achieve optimum adoption. Imho.

[Hallmader]

There were cases of huge national debts that were totally scrapped. That is one thing that we should not be seeing. That implies one most important thing, that the fiat system is perfect in its imperfection and is not reliable at all. The system is as flawed as it is being ruled by people whose subjective decisions will put other people or countries at the cruel end of poverty while the others live a decent life. And only for what? Only for their decisions about a certain fiat which has no actual value in truth.