11 countries close to bankruptcy.......

[Jamie_Boulder]

http://finance.yahoo.com/news/11-countries-near-bankruptcy-223350842.html?soc_src=mediacontentstory

And they call Bitcoin unstable...

[1714914472]

1714914472

[Meuh6879]

true since december 2013 for me ... since law are adopted to freeze and steal money from personal account in a week-end (cyprus schematic) to bail-out the banks to avoid bank run (bulgaria schematic).

all in place ... bitcoin will win at the end (like all performante and isolate tool)

[TaunSew]

Greece doesn't belong on the list, it's a deception.

https://www.youtube.com/watch?v=Zvl9N9GdraQ

[BitCoinDream]

http://finance.yahoo.com/news/11-countries-near-bankruptcy-223350842.html?soc_src=mediacontentstory

And they call Bitcoin unstable...

Here is the list if someone want is reluctant to check the article...

1. Ecuador
2. Egypt
3. Pakistan
4. Venezuela
5. Argentina
6. Belize
7. Cuba
8. Cyprus
9. Greece
10. Jamaica
11. Ukraine

[keithers]

It's a nice thought, but economically speaking, even if massively adopted, BTC couldn't save a country from bankruptcy. A currency that they cannot control wouldn't become the primary currency of a failing economy

[Rub3n]

http://finance.yahoo.com/news/11-countries-near-bankruptcy-223350842.html?soc_src=mediacontentstory

And they call Bitcoin unstable...

Here is the list if someone want is reluctant to check the article...

1. Ecuador
2. Egypt
3. Pakistan
4. Venezuela
5. Argentina
6. Belize
7. Cuba
8. Cyprus
9. Greece
10. Jamaica
11. Ukraine

Yeah thanks, just woke up so this helps.

[Jamie_Boulder]

It's a nice thought, but economically speaking, even if massively adopted, BTC couldn't save a country from bankruptcy. A currency that they cannot control wouldn't become the primary currency of a failing economy

A currency that's actually useable & trusted by the people is better than the debasement of banks & greed of government officials.

[Professor Plums]

Arent most countries close to bankruptcy? Isn't America in debt where it is unable to pay?

[lepirate]

Arent most countries close to bankruptcy? Isn't America in debt where it is unable to pay?

Not all countries. Most countries have a national debt, but a most of them don't have a debt bigger than they can pay off.

[Thekool1s]

Why isn't USA on the list?

Because Yahoo is the biggest Racist fish out their 

[will_see]

Arent most countries close to bankruptcy? Isn't America in debt where it is unable to pay?

This debt is for FRS but not for some country. That is why America is not at this list.

[tatu]

I think there will be something worse coming with econmic collapse almost certain eventually.

Arent most countries close to bankruptcy? Isn't America in debt where it is unable to pay?

This debt is for FRS but not for some country. That is why America is not at this list.

What is the FRS?

[qwerty555]

Why isn't USA on the list?

 Usa is not there as a) most of the debt is in dollars and they can just print enough any time they want to pay it off...This will of course have serious effects on inflation and make everyone holding dollars poorer as they would need to pay 2 or 10 or 100 times more for anything that they buy..and b) USA or any other country is never really bankrupt as they still have land , buildings roads/ resources and lots of other stuff that they can sell or lease to pay debt..

When most people call a country bankrupt or close to bankruptcy what the really mean is they are in or close to a sovereign default.. i.e they cannot  or will not( under existing terms of their debt, which will ALWAYS eventually be renegotiated) pay obligations when they fall due..


http://en.wikipedia.org/wiki/Sovereign_default

Some countries can deal with the renegotiation better than others.

Normally the effect is that everybody gets poorer and often they introduce currency controls and or bank raids high taxes etc  by the State like in Cyprus so the rich have a big share of the burden of solving the mess the politicians have handed the Country.

Where bitcoin comes in is to avoid / evade effects like that you can change your local currency deposited in banks or under your mattress to bitcoin..send it to places like the caymen Islands and reconvert to fiat to safely deposit it in a bank out of reach of your (naughty) Govt .

Before the advent or bitcoin this process was done by buying $,s on the black market at 10 to 50% extra. Putting them in suitcases and travelling abroad hoping not to get caught.. Bitcoin makes the process sooooo much easier and cheaper.

[juicyjuice87]

http://finance.yahoo.com/news/11-countries-near-bankruptcy-223350842.html?soc_src=mediacontentstory

And they call Bitcoin unstable...

Here is the list if someone want is reluctant to check the article...

1. Ecuador
2. Egypt
3. Pakistan
4. Venezuela
5. Argentina
6. Belize
7. Cuba
8. Cyprus
9. Greece
10. Jamaica
11. Ukraine

Yeah thanks, just woke up so this helps.

Lol thanks

[Elwar]

It's a nice thought, but economically speaking, even if massively adopted, BTC couldn't save a country from bankruptcy. A currency that they cannot control wouldn't become the primary currency of a failing economy

Bitcoin will not save countries.

It will save people.

[qwerty555]

I would say all the fiat system is collapsing, the world needs to go back to gold and/or now adopt BTC.

yes..It is a total myth that fiats last a long time..or are a safe/good place to store wealth...All fiats die ..all fiats die ..ALL fiats die


https://bitcointalk.org/index.php?topic=678512.msg7692168#msg7692168

and here is a list of "bankrupt" nations over the last 200 yrs

http://en.wikipedia.org/wiki/List_of_sovereign_defaults#List_of_sovereign_defaults

[TheGame]

I would say all the fiat system is collapsing, the world needs to go back to gold and/or now adopt BTC.

yes..It is a total myth that fiats last a long time.All fiats die ..all fiats die ..ALL fiats die

The current capitalistic system is doomed and bound to fail at some point.

[Elwar]

I would say all the fiat system is collapsing, the world needs to go back to gold and/or now adopt BTC.

yes..It is a total myth that fiats last a long time.All fiats die ..all fiats die ..ALL fiats die

The current capitalistic system is doomed and bound to fail at some point.

[cr1776]

I would say all the fiat system is collapsing, the world needs to go back to gold and/or now adopt BTC.

yes..It is a total myth that fiats last a long time.All fiats die ..all fiats die ..ALL fiats die

The current capitalistic system is doomed and bound to fail at some point.

The current fascist/authoritarian/statist system is doomed.

FTFY.

[arklan]

while i agree the financial system is close to collapse, i highly doubt it will happen overnight. no repeat of the great depression. more like slowly rising prices and unemployment as people get laid off and jobs get harder to find.