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Do you think there will be a worldwide "reset" to wipe out all the debt?

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How likely do you think it is that there will be a worldwide economic reset to deal with the huge amounts of debt? Surely the elites must be thinking of a way to make this happen so they can start the game again from scratch?

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CTRL+ALT+DEL moment coming in the next US administration IMPO...and yes that means war in some shape or form.

 

Last major one was 1939 -1945 and the aftermath will be the same this time...change of world hegemony.

 

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History has now shown us that to prevent banks going bust, bad debt is swept under the carpet, by putting it into a bad bank. If necessary why couldn't something like that be done on a much larger scale? Maybe toss it into 100 year bonds.

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When the bankers crimes become apparent to everyone and something does eventually give,m I'd wager the bankers are in for a s**t storm.

 

this happens periodically throughout history.  The robbing bastards get away with it for so long then the people they rob take umbridge to it, then all hell breaks loose.

Owning a house wont help you as it'll be taxed.

Leaving under cover of night,before TSHTF,  is your best bet ;)

 

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2 minutes ago, Democorruptcy said:

History has now shown us that to prevent banks going bust, bad debt is swept under the carpet, by putting it into a bad bank. If necessary why couldn't something like that be done on a much larger scale? Maybe toss it into 100 year bonds.

Will you buy the bonds ?

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2 minutes ago, Democorruptcy said:

History has now shown us that to prevent banks going bust, bad debt is swept under the carpet, by putting it into a bad bank. If necessary why couldn't something like that be done on a much larger scale? Maybe toss it into 100 year bonds.

The assets are taken and sold at real market value...they indebted loose every time.  The people with money win, every time.

 

Which are you ?

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7 minutes ago, thewig said:

if there is a mass DEBT jubilee and the prudent aren't paid off too, there will be large scale civil unrest, in my area at least.

Why in your area?;)

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Can only repeat what I've already said elsewhere on here today....

 

I don't think I've ever felt more despondent or disillusioned as I feel right now, asset prices keep on rising, the global debt binge shows no signs of being brought to a halt, if anything, the most likely outcome imo will be some form of further QE funded debt forgiveness/helicopter money somewhere down the line... some would say that's already happening by stealth now with TC's for people who don't want to work more than 16 hours a week as well as cheap debt plus limitless govt subsidies for businesses that would otherwise have long since failed due to being unprofitable and uncompetitive.

 

 

 

It just seems like a never ending win-win-win scenario for the feckless, the spendthrifts, the debt junkies, the wealthy owners of assets and of course, the banks.... and there is no potential financial crisis or black swan event that can't be made to just disappear simply by firing up the printing presses and creating another few hundred billion.

 

 

 

I've never felt more like just heading to the nearest casino and putting my entire 6 figure house buying savings on black or red, because as it stands right now in terms of what it will get me, it's all but worthless anyway and I just don't see that changing any time in my life time, 

 

 

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As fiat becomes increasingly worthless, and governments/banks keep printing to give money to their mates, people will look for other options.

There is no way out of our current predicament that would be palatable to politicians or the electorate so work rounds will be sought until they are no longer relevant.

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No I think it will go further where the majority of the population end up owing more than they can ever pay back so it gets passed on to their children and people get born as slaves like in the old days.

Workers' rights are already being stripped away and I can see it going all the way back to slavery being normal again. Govt is already mooting making striking illegal for instance.

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Fiat is only currency for as long as the population are willing to believe it is. Once enough debt junkies come to realise that then I'd say that total destruction of fiat currency is pretty much unavoidable on the basis that the debt junkies are the majority, and when they get a bit cross, you're not going to want to argue with them.

Of course, they'll be in for a bit of a shock when they realise who actually owns the assets that they think are theirs, but hey-ho.

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44 minutes ago, TheCountOfNowhere said:

Will you buy the bonds ?

No, I don't think that would be an option.

The IMF could just allow each country to toss into a combined pool, an amount in proportion to their GDP. Paid back at minimal interest (if any) over 100 years. Call it TUCK, The Ultimate Can Kick.

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48 minutes ago, TheCountOfNowhere said:

The assets are taken and sold at real market value...they indebted loose every time.  The people with money win, every time.

 

Which are you ?

I have no debt (or property)

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Someones debt is someone elses wealth.

If debt is written off at a national level...eg the US decide to give themselves a jubilee then their creditors will not be too impressed with it.

Que end of the petro Dollar for starters.

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1 hour ago, Democorruptcy said:

History has now shown us that to prevent banks going bust, bad debt is swept under the carpet, by putting it into a bad bank. If necessary why couldn't something like that be done on a much larger scale? Maybe toss it into 100 year bonds.

History doesn't really show that at all.  The bad debt wasn't swept under the carpet, it's still there.  Ask anyone with a Mortgage Express mortgage if they have been gifted a free house?  They haven't.

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