World debt and currency reset

[agentx44]

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.

The world system is currently in crisis. The environment is getting destroyed and natural resources are being abused leading to shortage which will surely end up resulting into famine. If the governments of different nations are just going to sit and act blind, our world will soon meet its end. The proposal of having cryptocurrency as an official monetary mean for all the people can be a tool to save the world from drowning. It may be theoretical but we will never know what will happen if we are not going to try.

[Xxmodded]

Governments can actually do whatever that they want, the can decide to forgive bad debts and even redenominate their entire currency whenever that they want. Because they control the central bank of their respective countries. Take a look at the economy of Zimbabwe which is in tatters because of poor economy management. They had to redenominate their currency just to prevent people carrying a bus load of money just to buy bread.

Government looks not serious with crypto world because have big risk if legal using digital currency payment, how come if their people buy bitcoin with higher price and suddenly drop to lower maybe many people will fault government why have to legal using bitcoin as transaction payment, with bitcoin price can't control and stable make government still illegal using bitcoin as currency.

[Polo7]

Bankers and elite not interested Money!
They will print it anyways as much They Want!

But what they are interested is that,  the people working dont ask questions!
That's how they make passive income, so they are investing into infrastructures to create and maintain the jobs and workers.


So what their main intetests are is news and media and controlling the workers union.  

They dont Care about Finances and wealth...
They dont Care about crypto either!  
Crypto and investing field is just Good to Take funds from crypto stock and all kind of investors and there for to secure their Financial stability to be destroyed and then They have cheap Labour and people who is in debt.  
And If You are in debt You work with lower wage coz u got no other option so the debt is created just to make sure Good workers never rise Up and working with low wages.
But They are not interested about profit they are intetested just that people will Work with low wages and just keep working and Producing.

So That's why is pyrocraty and Everybody needs some licenses and a lot Paper work to destroy small Enterprise'i business sectors.

[Silberman]

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.

Governments will forgive each other debts but they will never forgive the debts of the people since the whole point of a fiat currency and fractional reserve banking is to get people indebted so they do not really have any option but to keep working for the rest of their lives, and not only that people have accepted to use their money in a very inefficient way by being indebted all the time, a person that refused to be indebted will enjoy a better quality of life and obviously banks do not want them to know that.

[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.

Governments will forgive each other debts but they will never forgive the debts of the people since the whole point of a fiat currency and fractional reserve banking is to get people indebted so they do not really have any option but to keep working for the rest of their lives, and not only that people have accepted to use their money in a very inefficient way by being indebted all the time, a person that refused to be indebted will enjoy a better quality of life and obviously banks do not want them to know that.

Well said!  That's true!

[mersal]

If all the governments in this world are in debt then where is that money come from?

Who the hell are those banks? How they possible to make so much money and make people to be in debt.

If we reach one stage that all fiat currency value if going to be none then there will be no more new fiat because we already found the decentralized money.

[Polo7]

If all the governments in this world are in debt then where is that money come from?

Who the hell are those banks? How they possible to make so much money and make people to be in debt.

If we reach one stage that all fiat currency value if going to be none then there will be no more new fiat because we already found the decentralized money.

Without debt the Money have no value! 
The bigger is the debt the bigger is fiat currency value!
If Everybody is in debt Everybody will looking for Money to pay debt.
But only few will have the Money!

[SvonioneFromMangoCoinz]

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.

restarting the system is completely impossible and we still have to repay every year with the tax collected. But that public debt will gradually be paid off if the country grows well every year and people pay honest taxes. otherwise, those countries will be exposed to large debts and the country will sink into economic crisis or inflation up to millions of percent, just like Venezuela is.

[mersal]

If all the governments in this world are in debt then where is that money come from?

Who the hell are those banks? How they possible to make so much money and make people to be in debt.

If we reach one stage that all fiat currency value if going to be none then there will be no more new fiat because we already found the decentralized money.

Without debt the Money have no value! 
The bigger is the debt the bigger is fiat currency value!
If Everybody is in debt Everybody will looking for Money to pay debt.
But only few will have the Money!

Actually money has no value,which was just made of paper but governments promises us it has the value but it will become lesser and lesser when the debt increases so bigger debt is good for banks not for an economy.Exactly if people have debt they will keep working hard to repay it but they doesn't realize the value of money they were making reduces for their every salary period.

[Polo7]

If all the governments in this world are in debt then where is that money come from?

Who the hell are those banks? How they possible to make so much money and make people to be in debt.

If we reach one stage that all fiat currency value if going to be none then there will be no more new fiat because we already found the decentralized money.

Without debt the Money have no value! 
The bigger is the debt the bigger is fiat currency value!
If Everybody is in debt Everybody will looking for Money to pay debt.
But only few will have the Money!

Actually money has no value,which was just made of paper but governments promises us it has the value but it will become lesser and lesser when the debt increases so bigger debt is good for banks not for an economy.Exactly if people have debt they will keep working hard to repay it but they doesn't realize the value of money they were making reduces for their every salary period.

Fiat currency has value the paper has value When You are in debt to pay debt You need that paper! 
Without that paper You Can't serve Ur debt!


So how Come that this paper has no value?? 
I Think You are missing here something
Fiat currency has biggest value Still!

[uray]

If we reach one stage that all fiat currency value if going to be none then there will be no more new fiat because we already found the decentralized money.

If you are aware that the printing money does not mean that the bank or government can print money without any repercussion, in normal circumstance they would print 4% of the total gross domestic Production and if the policy makers or government is dumb enough to print the currency without any limits, then you will find situations you saw in Venezuela and Zimbabwe and not everyone is attracted to decentralize currency.

[mersal]

If all the governments in this world are in debt then where is that money come from?

Who the hell are those banks? How they possible to make so much money and make people to be in debt.

If we reach one stage that all fiat currency value if going to be none then there will be no more new fiat because we already found the decentralized money.

Without debt the Money have no value!  
The bigger is the debt the bigger is fiat currency value!
If Everybody is in debt Everybody will looking for Money to pay debt.
But only few will have the Money!

Actually money has no value,which was just made of paper but governments promises us it has the value but it will become lesser and lesser when the debt increases so bigger debt is good for banks not for an economy.Exactly if people have debt they will keep working hard to repay it but they doesn't realize the value of money they were making reduces for their every salary period.

Fiat currency has value the paper has value When You are in debt to pay debt You need that paper!  
Without that paper You Can't serve Ur debt!


So how Come that this paper has no value??  
I Think You are missing here something
Fiat currency has biggest value Still!

Making cost of $100 note is not $100 so you are assuming things wrong.We can never get away from debt until fiat stays because inflation will never stops and government also not going to stop getting loans for the country's betterment.

If we reach one stage that all fiat currency value if going to be none then there will be no more new fiat because we already found the decentralized money.

If you are aware that the printing money does not mean that the bank or government can print money without any repercussion, in normal circumstance they would print 4% of the total gross domestic Production and if the policy makers or government is dumb enough to print the currency without any limits, then you will find situations you saw in Venezuela and Zimbabwe and not everyone is attracted to decentralize currency.

No one really knows that banks printing based on these formula? Then why inflation rate hits 6% if banks are not allowed to print more than 4%.

[teosanru]

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.

Haha! You are joking right? The whole financial system is based on Debt itself. The richest countries have more debts and a better GDP while the poor countries have lesser debts with bad GDP. There actually is no need to restart the situation because there is no situation at all. Internal debt is just a myth which actually would never be repaid so there technically is just thin air. Only debt prevelant is International Debt which too is more or less not being repaid by most of the countries as of now but that is a true determinant of who would be the top leader in the World. Restarting the whole system won't happen because that would require finishing the value of fiat currency but once that happens there would be a complete riot situation in the world as people would not know where to go.

[HabBear]

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

Hey, no one can say what they'll do but while a reset makes logical sense there's a lot of emotion and ego in these decisions. Most leaders don't want to be in the chair for such an event because they fear it won't work. Also, a lot of governments owe other governments, so it would require multiple or all major governments agreeing to forgive the debt to each other, which also agrees to give up revenue from the interest earned on loans granted to other countries.

We should see some real action come out of this or else governments will have a much bigger problem on their hand. Ignoring the issue is not the answer!

[Sadlife]

They dont do that, there's an agreement where banks set some rules to whenever if the person failed to pay the debt in full. They will take away their property and everything you own.

What's more horrific is that they will inflate the currency by printing more paper money to drown you in debt, so you have to spend your whole life paying for those debts.

Unless if a global financial crisis happens which the banks are doing where they're exceeding the US debt mortgage to a staggering 15.8 trillion. We may see a recession and reset to all the debts.

[d.kevin29]

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

Hey, no one can say what they'll do

We can. It's actually possible to have a currency reset. Take a look at the mountain of debt we're all stuck into and think whether they can or not. At this point there's literally no way we can recover from the deep debt hole we are into.

Most leaders don't want to be in the chair for such an event because they fear it won't work. Also, a lot of governments owe other governments, so it would require multiple or all major governments agreeing to forgive the debt to each other, which also agrees to give up revenue from the interest earned on loans granted to other countries.

We should see some real action come out of this or else governments will have a much bigger problem on their hand. Ignoring the issue is not the answer!

What makes you think they fear it wouldn't work? It would, but the problem is the following: a reset of the global debt is needed for this to really do some change in the world economy. A global debt erase means everyone is free from debts, which would be unfair for a lot of the population (those who are not in debt right now would be in disadvantage, because those in debt will be favored).

Most countries don't necessarily need to agree with each other to proceed with a reset. As soon as the reset is processed in such a way that every leader has a benefit from it, it could easily happen. A bigger problem would probably be countries like North Korea, but I doubt they'd refuse a good offer. If they want it to happen, they have all the resources and people they need to do it and nothing would stop them.

A currency reset would most likely not mean a RESET to 0, but swapping the $, €, £ and all the other currencies with a new one that could track the progress and all our funds in a way easier manner. A reset to 0 is too harsh, they have to do a smooth transition and I believe it'll happen as soon as the national cryptocurrencies launch. It'll be a reset disguised in a currency swap. We're slowly going cashless if you think about it and look around. Cash transactions are being limited as much as possible, and cash transactions are inversely proportional with the control of our funds.

[merchantofzeny]

That's a rather optimistic view of the OP. Only way that will happen is if there was a complete GLOBAL societal collapse. Yup, just your country collapsing doesn't mean foreign governments will write your debt away. And even if they "do" in practice they'll still make you pay for it by asking to give them so and so rights etc.

So for those thinking their student loans are gonna be forgiven if they elect so-and-so into office, go face a mirror and slap your face till it turns red then do the same to the other cheek. What you and your country will go through to "forgive" that debt will feel x100 worse than that for whatever number of years you'll have left alive.

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.

Hard to explain but this fucked Greece multiple times in the past. Thing is, the debt is never truly forgiven, the creditors will always try to find a way to take their money back.

[princesspoppy]

It is possible, that is, if all the government will agree on that. It can be possible to have currency reset and just forget about the debts of everyone, of course it depends on every country, but the nature of a human, we are all greedy and nothing can change that fact. We all want the things we did will be paid off and I think that will be the problem. Some countries may agree to have this currency reset most especially those with big amount of debts but of course the problem will be the creditor. Will they agree on that? Well that's the question that should be answered.

[mamahdedeh]

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.

I don't think is about mob action but government to government agreement can work on that.
Or maybe, if not repayment in physical cash, exchange of some certain products on bargain can also work but generally, it is very difficult to happen.

agreements between nations can help in transacting across countries, and this certainly can develop business in the import and export sector. without the opportunity, I think the crypto workspace seems limited, but I think it still takes a long time to be able to see it

[abhiseshakana]

We can. It's actually possible to have a currency reset. Take a look at the mountain of debt we're all stuck into and think whether they can or not. At this point there's literally no way we can recover from the deep debt hole we are into.

Switching from one fiat currency to another fiat means coming out of the tiger's mouth into the crocodile's mouth. The FIAT money system is what causes debt inflation at this time. So the culprit is the existence of fiat money itself. Start reviewing and making concrete actions to simulate the use of currencies with intrinsic value.

So to resolve global debt the way is to stop the practice of debt by eliminating banks that apply interest rates.

The practice of debt relief with various mechanisms has already taken place in this world, but if what is meant is "back to zero" then the negotiations will be very heavy because other countries' debt means foreign exchange for other countries. "back to zero" also means instability for a country whose foreign exchange reserves are in the form of government bonds.

Here are some mechanisms for debt cancellation

- Basic Toronto, the choice of conventional assistance in the form of; cancellation of the loan to one-third of the loan value, a reduction in interest on all loan volumes, extension of the repayment period to 25 years
- Brady Plan, by eliminating part of the debt, but the remaining debt is guaranteed by the IMF or the World Bank, as long as it follows the required adjustment programs.
- Debt swap for capital (debt for equity swap)
- Debt exchange for certain humanitarian or environmental programs, such as (debt for nature swap, debt for health)

The burden of the global debt crisis should be shared evenly among all parties not just charged to developing countries or poor countries)

A currency reset would most likely not mean a RESET to 0, but swapping the $, €, £ and all the other currencies with a new one that could track the progress and all our funds in a way easier manner. A reset to 0 is too harsh, they have to do a smooth transition and I believe it'll happen as soon as the national cryptocurrencies launch. It'll be a reset disguised in a currency swap. We're slowly going cashless if you think about it and look around. Cash transactions are being limited as much as possible, and cash transactions are inversely proportional with the control of our funds.

Cryptocurrency can indeed shift the fiat money system with all its problems. But learning from previous fiat currency failures, shouldn't we rely on crypto on real gold.

Cashless transactions, although efficient, clearly cause huge holes due to the practice of creating money, making it more frustrating that our assets are only in the form of writings on a computer or system without real guarantees that the amount is appropriate.

Blockchain technology can be a bridge to close the hole and bring transparency to the world economy. So that even distribution and welfare of the economy can be felt by everyone.