Another rant: Global debt now exceeds $184 trillion, equal to $86,000 per person

Here’s an important concept that no one will actually read. :joy:

The world contains $36.8 trillion of actual physical money, yet global debt now exceeds $184 trillion. For most people this is an abstract concept, as how can there be 5x more money owed, than money that exists?

This is due to something called fractional reserve banking. For every physical dollar that a bank holds in it’s vault, it’s allowed to lend out a larger multiple of imaginary dollars. The result is that our credit cards (and other digital means of payment) are not actually based on real money, nor are they backed by real money.

Banks then charge interest on this fake money, thus generating more money for themselves, while creating more debt for the people. It’s a compounding debt cycle that grows at an ever increasing rate. Each time the cycle repeats, the ratio of debt to real world money increases.

We’re now at the point where if you were to take the combined debt of all world governments, corporations, and people, and divided it out based on the world population, it works out to $86,000 per person. This is a truly abhorrent statistic, that represents what is arguably the greatest scam in human history.

The truth is that our global monetary system wasn’t built to be sustainable, but rather to be profitable. The powers that be get rich from charging interest on money that doesn’t exist, while the people incur absurd amounts of debt.

The longer this continues, the greater the repercussions. Eventually the economy begins to collapse, and more money is then printed to stabilize and prop it back up. This is a short term fix, as the worse the situation gets, the more inflation is required to maintain it. The problem inevitably compounds itself, growing worse with each repeating cycle.

Sooner or later the current monetary system will collapse entirely. It’s not a question of if, but when. These cycles are getting closer and closer together, and many countries such as Venezuela, Angola, Egypt, Argentina, Nigeria, Yemen, Congo, etc, are either already facing hyperinflation, or on the verge of it. The problem is now even spreading to world leaders, such as the USA, China, and Japan, as we are currently on the verge of another world recession.

A complete paradigm shift is required to end this fiasco. This is why cryptocurrencies such as Bitcoin have been created. They are transparent, decentralized, deflationary digital currencies. Although a joke to the general public due to misconceptions and price manipulation, there is significantly more to these digital currencies than most people realize. Granted Bitcoin likely isn’t the answer to stopping the world debt crisis, however the technological innovations being made in the cryptocurrency field will undoubtedly contribute to whatever replaces the current system.

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Also, here’s the source that I used for the dollar figures:

https://www.bloomberg.com/news/articles/2018-12-13/debt-worldwide-hits-record-184-trillion-or-86-000-per-person

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Exactly. Well said.

Appreciate these! Tweeted!

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Thanks Peter. Appreciate the support!

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Our current money system is not only wholly unethical but its illegal according to the constitution.

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I recently looked into the debt per capita per country. It is around 50000 USD for every new born British but just below 4000 USD for every Chinese baby. And it is much lower for a Russian. I guess that’s one of the major reasons that EU is so hostile towards Russia, a non communist regime.

The irony of a mortal life is that our destiny is more or less decided by the time of our birth and our social ‘classes’. The welfare society model was decided post WW I in the civilised world, which tragically determined the decline of the West until today.Individuals might alter their fate a little based on their personal traits, but the unsustainable economical model and the generations educated by this dominant ideology have eliminated other possibilities (I even include USA here). The doomed Amazon rainforest is an analogy: We all want to save it, but the collective over consumption life style of the West (e.g. we can’t help buying cheap junks from Amazon) will definitely kill off the largest rainforest on earth.

The non-intuitive trajectory of humanity could well be that we live and suffer the demise of the welfare society. And some other much more energy efficient ideology takes over or rather fill the vacuum left by the sunken institutions: EU, UN, a new sized down US government or even a further divided Northern America with much more countries.

Bitcoin has been a gem in a haystack, which is still being suffocated by the other 99% shit coins worse than the fiat banking model. Much like the 3 generations of the third world intelligentsia since the end of WW II (a small majority in the West) being total brainwashed by the shit baizuo (‘white communists’) theory cooked up by the disciples of Stalin’s Comintern members or Comintern sympathisers in the civlised West, the real ideology responsible for the rise of the West was not only constantly condemned but also was almost eliminated nowadays. The shit coiners in the ideological realm has populated the world long time ago.

Ultimately, Bitcoin as a trustworthy monetary device might disappear over night, but crave for trustworthiness is what makes us human. As long as the world is still infested by the deceiving elites equipped by the shit coin ideology, innovation will never stop.

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The entire point of money is to allocate finite resources to humans with insatiable desires. There simply is not enough resources for everyone on the planet to have a mansion and a Ferrari.

What this tells me is that the world is consuming more resources than our monetary system suggests is feasible. This means we are completely consuming the planet and destroying it at a rate that’s so unsustainable, even our own economic systems are telling us it’s too much.

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