Will there be a debt reset of everything

FrugalCat

spencerrothchild said:

It’s just history repeating

governments always abuse and dilute the currency supply until gold and silver do a revaluation up to meet the new expanded currency supply.

gold does a revaluation to account for the new expanded currency supply since the last revaluation 

this has always happened through history 

It would be silly to gamble on timing these events. Buying gold in good times to sell in crises, when people panic is a good strategy. 
Buying gold in a crisis in the hope or fear of hyperinflation - particularly of the reserve currency - is not.

Takedap said:

How many tins of beans to the (new) dollar?  Physical gold has no value apart from that assigned to it.  It's only worth is in what you can swap for it.   If I offer my dog the choice of a lump of gold or a sausage, it'll take the sausage every time.  And if you were starving, so would you.  So where is the value in gold?

As a currency, as you've alluded to. Sausages are a bad currency, because their shelf life is short (however delicious).
Gold is a good one, because as a precious metal it lasts long and has rare technical qualities.
Your dog doesn't understand that a lump of gold as a currency could buy him a lifetime supply of sausages - he's choosing the better nutrition.

spencerrothchild

John_ said:

spencerrothchild said:

Brock_and_Roll said:

Argentina is a classic example - serial defaulter and every time they default you think that people would be made to lend to them again.... but before you know it lenders are queuing up again!

But every country in the world can not pay their debts, it’s impossible to pay it all off, all they can do is borrow more

hence 99.9% of the debt in the world is being defaulted on 

The UK’s debt is in GBP, so they can simply print money and pay it all off if they want. There are very good reasons that they don’t, but it’s always an option when your debt is in your own currency.

This why it’s true to say 99.9% of th debt in the world is being defaulted on 

or monetise the debt is the other way to say it

dr_adidas01

spencerrothchild said:

John_ said:

spencerrothchild said:

Brock_and_Roll said:

Argentina is a classic example - serial defaulter and every time they default you think that people would be made to lend to them again.... but before you know it lenders are queuing up again!

But every country in the world can not pay their debts, it’s impossible to pay it all off, all they can do is borrow more

hence 99.9% of the debt in the world is being defaulted on 

The UK’s debt is in GBP, so they can simply print money and pay it all off if they want. There are very good reasons that they don’t, but it’s always an option when your debt is in your own currency.

This why it’s true to say 99.9% of th debt in the world is being defaulted on 

or monetise the debt is the other way to say it

Yet still you can't provide any real proof that's the case, just you making it up like the rest of your threads on here!!

D3xt3r5L4b

OP has debt issues, disabilities (as proven in another post), cannot afford their rent and if also asking about a DRO.

It looks as though they are just looking for a get-out-of-jail-free card and using COVID-19 as the excuse, or rather in their head it works out, but reality is providing to be somewhat difficult...

spencerrothchild

The FED repeatedly said time and time again they will not monetise the debt

yet this is exactly what they are now doing

dr_adidas01

spencerrothchild said:

The FED repeatedly said time and time again they will not monetise the debt

yet this is exactly what they are now doing

Again you’re just spouting what’s going on in your head and can’t produce hard facts. I can see from your other posts your just expecting your own debt to be written off without any consequences. 

You’re  wanting to use the current Covid situation as an excuse, which in reality isn’t going to happen, your creditors will want there money and will more than likely use the enforcement methods they have to get it. 

So it’s time to accept that truth and move on!! 

John_

spencerrothchild said:

John_ said:

spencerrothchild said:

Brock_and_Roll said:

Argentina is a classic example - serial defaulter and every time they default you think that people would be made to lend to them again.... but before you know it lenders are queuing up again!

But every country in the world can not pay their debts, it’s impossible to pay it all off, all they can do is borrow more

hence 99.9% of the debt in the world is being defaulted on 

The UK’s debt is in GBP, so they can simply print money and pay it all off if they want. There are very good reasons that they don’t, but it’s always an option when your debt is in your own currency.

This why it’s true to say 99.9% of th debt in the world is being defaulted on 

or monetise the debt is the other way to say it

I’ll try to keep this really simple for you. A debt being defaulted on has a very clear and unambiguous meaning, it means that payments are not being made in line with the agreed terms.

Under this, the only correct Definition, it’s clear that you are wrong. You are at this point clearly a wind-up merchant, so I’ll not engage any more.

John_

D3xt3r5L4b said:

OP has debt issues, disabilities (as proven in another post), cannot afford their rent and if also asking about a DRO.

It looks as though they are just looking for a get-out-of-jail-free card and using COVID-19 as the excuse, or rather in their head it works out, but reality is providing to be somewhat difficult...

Yes, just another person who’s blown other people’s money and then developed a conspiracy theory to explain why they shouldn’t pay it back.

It’s amazing how few cranks develop their “unconventional” views before they borrow and spend money, as opposed to after.

No-name_2

Just a thought OP - if, as suggested, you have debts you would like written off under cover of a worldwide cancellation of debt I'd be happy for that, but remember if you receive benefits or a pension they are current or future liabilities (debts) on another organisation's account and would be cancelled also -  so say goodbye to your benefits and pension!

hansolo2000

spencerrothchild said:

The FED repeatedly said time and time again they will not monetise the debt

yet this is exactly what they are now doing

Jim Sinclair just did a massive interview on USA watchdog today, it was entitled global debt jubilees everywhere.