If the whole world is in debt, then who do we owe it to?
>>61073659me
>>61073659Cool it with the antisemitic remarks
>>61073659Whoever holds bonds
>>61073659The future.
This anon >>61073663
>>61073659that's how much the fiat niggers have rug pulled so far.
the not yet tapped future consumable products thru laborall debt is from borrowing value product of labor from the future, whether near or way down history
>>61073659We owe it to each other, to investors, banks, and financial institutions and in some cases, to future generations.
>>61073659Basically anyone who owns treasuries. Which can be foreign or domestic investors, mutual funds, pensions, insurance companies, banks, etc.
>>61073659What happens when everyone just ignores the debt and removes it?
jupiter
>>61073659How do you even pay off debt on a global scale?
>>61073659Is there any kind of centralized banking system that issues money on interest so it's impossible for any nation State member to ever pay it back?
>>61073659Thule is not inherited. It is borrowed from our children.
>>61073659no nooticing
>>61073659Not every single person on the planet is in debt
>>61074868>What happens when everyone just ignores the debt and removes it?The jews get very, very angry.
Decepticons
>>61073659Central banks and boomer savings accounts.
>>61073747yes and the biggest holders that you forgot. Central banks that control the money supply
>>61074915inflation, growth or austerity
>>61075028by default you are. goverment debt is your debt too
>>61073659It's just allocating resources from 1 person to another.
>>61073659Money is debt, every outstanding dollar or pound or franc or ruble or whatever unit of currency in someone's purse, wallet or bank account is part of the national/international debt.
>>61075422No, government debt is debt to the people, the government is largely in debt because of a large amount of money in circulation and because of future entitlements like infrastructure, education grants, retirement accounts, social security, and medicare/medicaid.
>>61074938You have perpetual bonds, where you never get paid back the money you have borrowed but just get paid the fixed interest rate on the "loan".They don't really do this kind anymore, because it is impossible to get rid of this kind of debt. I think the oldest perpetual bond that is currently in effect is a Dutch bond that is 400 years old.
>>61074868Remind me again what is the default composition of a retirement account? 60/40? You would essentially wipe out the majority of all retirement savings, if you wiped out the debt.
>>61075524bonds would become worthless?
>>61075515Who pays taxes? And I know you are a MMTer but taxation is key for inflation control in MMT and that is how tax payers end up paying for the debt
>>61074868Same thing that would happen to the bitcoin network if everyone just decided to send all their coins to the original first wallet.
>>61075536yeah bonds are the debt..
>>61075545>Who pays taxes?Income earners, you don't pay tax by default, that was deemed unconstitutional when obama tried to implement a tax just to be alive.
>>61075563income earners, house owners, people who buy stuff...
>>61073659Money is only created in 2 ways: when a bank lends you or a company money and when the government sells treasuries to the central bank (the fed). So the entirety of debt is owed to banks and the fed. Total debt is quite literally larger than the money supply. I have literally no idea why it works like this or how it evolved to become this. It's a control thing at the end of the day, you owe them interest on something printed out of thin air.
>>61073659it's at Bill's House
> I have literally no idea why it works like this or how it evolved to become this.Theft anon…they are printing money out of thin air and buying hard assets with it while you work for a constantly devalued piece of trash….they are stealing the world and we are giving it to them
>>61073659Its all fake. Get a rope die money lenders die. Return assets from banks back to the people.
>>61075586>house owners, people who buy stuff...No, the federal government doesn't tax that stuff, its not deflationary in the sense that income tax is and none of that stuff is by default, it takes certain action to trigger the state taxes.
>>61075596>Total debt is quite literally larger than the money supply.Debt is the money supply plus treasury bonds and entitlement trust funds.
>>61075989>the goverment is just the federal govermentI guess counties and states spend money out of thin air
>>61073659Space Jews. Obviously.
>>61076123They can't print or decommission USD out of thin air, so they have nothing to do with the process of inflating or deflating the money supply, they just pass around debt like everyone else who isn't the federal government who is the only one who creates and forgives the debt and affect the actual availability of money.
>>61074868monetary collapse
>>61076188You know the federal goverment transfers money to counties and states as they all share the same institutions like the IRS? Separating regional goverments from the federal one is simply stupid
>>61074868Cool it with the anti-Semitic questions
>>61073659DEBT = PRINTEDMONEY
>>61076745>Separating regional goverments from the federal one is simply stupidOk, but the separation still means paying state tax is completely different process than paying federal tax no matter how stupid you think that is.
>print 1,000,000,000,000,000,000,000 dollars>pay off debt>pay excess money to everyone proportionally according to money already held before the big printening>trim a few zeroes off the number to make it more manageableexplain to me how this could not be done right now today
>>61074868that is how Germany got itself entangled in a world wide incident in the 1930s.
>>61073659pension funds, mutual funds, commercial banks
>>61074868what you really mean is>what happens when nobody buys the bonds and instead uses strictly whole cash money assets like gold/ crypto/ silver/ futures (deliverable) ?the bonds basically fail, their interest goes to infinity if their price goes down too muchtreasury has to print a gorillion to pay the interestat that point they might consider default to restructure using assets that they can get their hands on that have an orderbookhighly unlikely that this happens but it's possible
>>61076873Prices would skyrocket immediately. The same loaf of bread might go from $3 to $3 trillion. You’d just renamed everyone’s numbers. You’re also destroying the value of the assets held by banks, pension funds, and individuals. Countries like Zimbabwe, Venezuela, Weimar Germany, and Yugoslavia all tried this and destroyed their economies. Every piece of accounting software, payroll system, bond covenant, and price list would break. This is logistically impossible to synchronize instantly across a complex economy.
>>61073715>when you owe the future a million dollars, that's your problem. when you owe the future 100 trillion dollars, that's the future's problem
>>61077537A story as old as time and yet each time, “this time it’s different”
>>61074868Consider that your bank account is just a debt that the bank owes you and figure it out
>>61077783Whoa
>>61073659Them
>>61075422Wrong.
>>61077980Israeli Secret Intelligence Service.
>>61077676>boomer philosophy
>>61074868Jews happen
probably a lot of old people
>>61073659Who holds the bonds?Boomer pension funds, jews, governments.Do all of them expect zoomers to pay that shit back?
>>61075596cause they print more money to buy bonds and lower the yields to pay less interest rate but that generates inflation and they have to raise rates again and eventually they have to stop printing so real demand is factoring in and if there is no demand to buy the bonds then the yields go up and they have to print more to lower the yield and so on lol its fucked up i dont even fucking know half of this shit all i know is i need to get rich
>>61073659The IMF
