TRC is primarily funded by ad revenue. If you like the content you find here, please do not block our ads. Thank you.
Page 1 of 4 123 ... LastLast
Results 1 to 15 of 54

Thread: Global reset...

  1. #1
    Banned
    Join Date
    Aug 2012
    Location
    Devon/Cornwall
    Posts
    4,286
    Like
    0
    Liked: 1/1

    Default Global reset...

    The world governments debts are close to $100,000 Trillion, it can never be paid off so...

    What would be the consequences if these debts were wiped out/cancelled?

    Off you go boys, should make for some interesting opinions :-)



    JJ. Freely admitting world finances are not his strong point. :-)


  2. TRC is primarily funded by ad revenue. If you like the content you find here, please do not block our ads. Thank you.
  3. #2
    Should Get Out More the phantom pieman's Avatar
    Join Date
    Jan 2008
    Location
    Brighton-ish
    Posts
    8,649
    Like
    391
    Liked 286 in 202 posts

    Default Re: Global reset...

    Who do they owe the money to?
    Each other?
    The banks?
    Zebby Zulu?

    PS - if it was wiped out , everyone would just borrow more. It;'s how banks make money and why wiping out third world debt would never stop poverty.

    Christ, we could have saved all that Bono/Chris Martin shit of a few years ago ....

  4. #3
    Should Get Out More LondonDRZ's Avatar
    Join Date
    Nov 2008
    Location
    At home
    Posts
    7,681
    Like
    192
    Liked 565 in 391 posts

    Default Re: Global reset...

    Quote Originally Posted by Jollyjack View Post
    The world governments debts are close to $100,000 Trillion, it can never be paid off so...

    What would be the consequences if these debts were wiped out/cancelled?

    Off you go boys, should make for some interesting opinions :-)



    JJ. Freely admitting world finances are not his strong point. :-)
    What I want to know is, where did the money go?

  5. #4
    Should Get Out More Londongal76's Avatar
    Join Date
    Dec 2007
    Location
    The ghetto
    Posts
    7,695
    Like
    590
    Liked 299 in 184 posts
    Blog Entries
    1

    Default Re: Global reset...

    Many many world economies would be kickstarted overnight theoretically, with countries not having to pay off billions in loans. The ECB would go bust. (not a bad thing imo)

  6. #5
    Should Get Out More Tomcat's Avatar
    Join Date
    Dec 2007
    Location
    On the road. Again.
    Posts
    31,296
    Like
    188
    Liked 236 in 145 posts
    Blog Entries
    11

    Default Re: Global reset...

    I supose your viewpoint will vary according to whather you're making or spending money on it. Arguably writing off debt would penalise the prudent and reward the imprudent. Seems to me like everyone owes everyone else anyway, except the Chinese who we all owe.


  7. #6
    Should Get Out More Wreckless Rat's Avatar
    Join Date
    Jan 2008
    Location
    Norfolkshire
    Posts
    19,331
    Like
    656
    Liked 848 in 464 posts
    Blog Entries
    1

    Default Re: Global reset...

    can I sell my guilts first please......

  8. #7
    Mr Solex Zanx's Avatar
    Join Date
    Dec 2007
    Location
    Ilford innit.
    Posts
    19,832
    Like
    27
    Liked 117 in 56 posts
    Blog Entries
    3

    Default Re: Global reset...

    Quote Originally Posted by LondonDRZ View Post
    What I want to know is, where did the money go?
    I've asked that a few times, maybe it never existed, just like most of the money in America.

  9. #8
    Should Get Out More Londongal76's Avatar
    Join Date
    Dec 2007
    Location
    The ghetto
    Posts
    7,695
    Like
    590
    Liked 299 in 184 posts
    Blog Entries
    1

    Default Re: Global reset...

    So if i'm reading that correctly, we lend 1.8billion and we owe 1.7? Why not just stop lending for a year?

  10. #9
    Banned
    Join Date
    Aug 2012
    Location
    Devon/Cornwall
    Posts
    4,286
    Like
    0
    Liked: 1/1

    Default Re: Global reset...

    Quote Originally Posted by Londongal76 View Post
    Many many world economies would be kickstarted overnight theoretically, with countries not having to pay off billions in loans.
    That much I figured ;-), but who would be the losers?

    JJ.

  11. #10
    Should Get Out More BananaMan's Avatar
    Join Date
    Dec 2007
    Location
    Ascot, Berkshire.
    Posts
    19,128
    Like
    1,633
    Liked 618 in 406 posts
    Blog Entries
    6

    Default Re: Global reset...

    Money is fiction.

    There is only this...
    Attached Images Attached Images

  12. #11
    Should Get Out More MyLittleStudPony's Avatar
    Join Date
    Dec 2007
    Posts
    25,727
    Like
    800
    Liked 712 in 448 posts

    Default Re: Global reset...

    Quote Originally Posted by Jollyjack View Post
    The world governments debts are close to $100,000 Trillion,...

    Is that really true?

    This website suggests it's about 2000 times less: http://demonocracy.info/infographics...orld_debt.html

    Anyway.... cancelling debt probably leads to financial collapse and then it all goes Mad Max (in the sense of anarchy, not everyone forming gay biker gangs and driving round in hotted up V8s).

  13. #12
    Should Get Out More Tomcat's Avatar
    Join Date
    Dec 2007
    Location
    On the road. Again.
    Posts
    31,296
    Like
    188
    Liked 236 in 145 posts
    Blog Entries
    11

    Default Re: Global reset...

    Quote Originally Posted by Zanx View Post
    I've asked that a few times, maybe it never existed, just like most of the money in America.
    Money is basically all IOUs anyway, ever since we moved away from the gold standard where the total amount of money in circulation was fixed by the amount of gold. Now if I borrow money from you, you can give me an IOU for the sum and charge me interest. To cover the cost of the loan I'll lend you the same amount and charge you interest. Global commerce has taken place and we've both made a profit on the deal.

  14. #13
    Should Get Out More Taipan's Avatar
    Join Date
    Dec 2007
    Location
    Boerthal's hill
    Posts
    35,664
    Like
    2,617
    Liked 1,705 in 969 posts

    Default Re: Global reset...

    Quote Originally Posted by Jollyjack View Post
    The world governments debts are close to $100,000 Trillion, it can never be paid off so...

    What would be the consequences if these debts were wiped out/cancelled?

    Off you go boys, should make for some interesting opinions :-)



    JJ. Freely admitting world finances are not his strong point. :-)

  15. #14
    Grumpy old git saga_lout's Avatar
    Join Date
    Jan 2008
    Location
    Essex, innit.
    Posts
    18,252
    Like
    681
    Liked 922 in 629 posts

    Default Re: Global reset...

    Quote Originally Posted by Wreckless Rat View Post
    can I sell my guilts first please......
    Probably not. But if you go to confession you can get rid of them for the price of a few hail Marys and an Our Father or two.

  16. #15
    Should Get Out More NyseriA's Avatar
    Join Date
    Jan 2008
    Location
    Manchester
    Posts
    7,878
    Like
    786
    Liked 255 in 153 posts

    Default Re: Global reset...

    So according to that graphic up there, the biggest lenders of money in the world are the UK?

    We owe the US around 40% of what they owe us? WHY DO WE EVEN BORROW FROM PEOPLE THAT ALREADY OWE US THINGS?!!11

Page 1 of 4 123 ... LastLast
Go Back to Forum My Forum