Will there be a debt reset of everything

spencerrothchild

eskbanker said:

spencerrothchild said:

spencerrothchild said:

eskbanker said:

spencerrothchild said:

the fact remains that 99.9% of the debt on the world is being defaulted on

OK, playing along with this for a bit then - if you believe it to be a fact rather than supposition then you should obviously be able to substantiate it.  What credible support can you cite for it, i.e. not bonkers conspiracy theory nonsense?

The fact that most sovereign debt can’t be paid back, all they can do is borrow more.

if you think countries can indeed pay back their debts then please provide some credibility to your claim.

if you think all the counter parties to all the trillions in derivatives that just went toxic are able to pay back all those trillions then please provide the evidence 

these are rhetorical questions because you can’t provide evidence as everyone knows these debts can’t be paid back, all they can do is borrow more 

Thought not, no attempt to provide this evidence that the 99% of the debt in the world can ever be repaid

Oh I see, it's playground logic we're using is it?  OK - I have a purple unicorn in my garden, but I won't make any attempt to prove it, I'll just expect you to disprove it.  You say you can't?  Aha, it must be true then....

Oh this old chestnut No No you are the only one being childish here.

You have already admitted Peter Shieff was correct when he first made the statement that 99.9% of the debt in the world is being defaulted on, but then you claim that no all debt is the same.

Peters claim is not interested in if debts are different or not, the fact is that 99.9 % of all debt in the world is being defaulted on.

it makes you think about the enormity of the debt problem whenever everyone in the world who is in actuality paying off their debts still only amounts to 0.1% of the debt in the world

eskbanker

spencerrothchild said:

eskbanker said:

spencerrothchild said:

spencerrothchild said:

eskbanker said:

spencerrothchild said:

the fact remains that 99.9% of the debt on the world is being defaulted on

OK, playing along with this for a bit then - if you believe it to be a fact rather than supposition then you should obviously be able to substantiate it.  What credible support can you cite for it, i.e. not bonkers conspiracy theory nonsense?

The fact that most sovereign debt can’t be paid back, all they can do is borrow more.

if you think countries can indeed pay back their debts then please provide some credibility to your claim.

if you think all the counter parties to all the trillions in derivatives that just went toxic are able to pay back all those trillions then please provide the evidence 

these are rhetorical questions because you can’t provide evidence as everyone knows these debts can’t be paid back, all they can do is borrow more 

Thought not, no attempt to provide this evidence that the 99% of the debt in the world can ever be repaid

Oh I see, it's playground logic we're using is it?  OK - I have a purple unicorn in my garden, but I won't make any attempt to prove it, I'll just expect you to disprove it.  You say you can't?  Aha, it must be true then....

Oh this old chestnut No No you are the only one being childish here.

You have already admitted Peter Shieff was correct when he first made the statement that 99.9% of the debt in the world isn’t being defaulted on, but then you claim that no all debt is the sa

I neither know nor care who Peter Shieff is and so clearly can't have any view on what he may or may not have said to you, but your attempt to falsely claim my agreement with him speaks volumes about your intellectual capabilities....

D3xt3r5L4b

Cuckoo-cuckoo!!

I would put my tinfoil hat on, but the supermarkets are all out of tinfoil.

Those darn hoarders buying up 99.9% of supermarket stock. 

McNinian

Theresa May claimed in May 2017 'there is no magic money tree' when asked by a nurse why she hadn't received a cost of living pay rise for eight years. May lied.

There is a magic money tree, it's called QE. It's a process where a government pretends to borrow its own currency from itself which is interest free and never has to be repaid. Before this coronavirus affair the magic money tree had yielded 434 billion quid since 2008. I'm pretty sure Sunak visited the magic money tree during the past month or so. If he hasn't then he soon will... again, again and again because the state can create an infinite amount of pounds at nil cost to pay furloughed workers and anyone else indefinitely. All's required is for some official to type the required amount at a computer terminal then the government is free to disperse it. It's possible because the pound is backed by nothing of tangible value, just as every other currency worldwide is also backed by precisely zilch.

John_

spencerrothchild said:

eskbanker said:

spencerrothchild said:

spencerrothchild said:

eskbanker said:

spencerrothchild said:

the fact remains that 99.9% of the debt on the world is being defaulted on

OK, playing along with this for a bit then - if you believe it to be a fact rather than supposition then you should obviously be able to substantiate it.  What credible support can you cite for it, i.e. not bonkers conspiracy theory nonsense?

The fact that most sovereign debt can’t be paid back, all they can do is borrow more.

if you think countries can indeed pay back their debts then please provide some credibility to your claim.

if you think all the counter parties to all the trillions in derivatives that just went toxic are able to pay back all those trillions then please provide the evidence 

these are rhetorical questions because you can’t provide evidence as everyone knows these debts can’t be paid back, all they can do is borrow more 

Thought not, no attempt to provide this evidence that the 99% of the debt in the world can ever be repaid

Oh I see, it's playground logic we're using is it?  OK - I have a purple unicorn in my garden, but I won't make any attempt to prove it, I'll just expect you to disprove it.  You say you can't?  Aha, it must be true then....

Oh this old chestnut No No you are the only one being childish here.

You have already admitted Peter Shieff was correct when he first made the statement that 99.9% of the debt in the world is being defaulted on, but then you claim that no all debt is the same.

Peters claim is not interested in if debts are different or not, the fact is that 99.9 % of all debt in the world is being defaulted on.

it makes you think about the enormity of the debt problem whenever everyone in the world who is in actuality paying off their debts still only amounts to 0.1% of the debt in the world

Do you even know yourself what you mean by this claim? You are using the present tense, implying that it is in default now, but you must know that this is not the case, and you occasionally slip into saying that it will instead default in the future.

Are you using words in a new way here, without telling anyone that you are doing it?

spencerrothchild

McNinian said:

Theresa May claimed in May 2017 'there is no magic money tree' when asked by a nurse why she hadn't received a cost of living pay rise for eight years. May lied.

There is a magic money tree, it's called QE. It's a process where a government pretends to borrow its own currency from itself which is interest free and never has to be repaid. Before this coronavirus affair the magic money tree had yielded 434 billion quid since 2008. I'm pretty sure Sunak visited the magic money tree during the past month or so. If he hasn't then he soon will... again, again and again because the state can create an infinite amount of pounds at nil cost to pay furloughed workers and anyone else indefinitely. All's required is for some official to type the required amount at a computer terminal then the government is free to disperse it. It's possible because the pound is backed by nothing of tangible value, just as every other currency worldwide is also backed by precisely zilch.

Shhhhh some people don’t like the truth around here

spencerrothchild

If we are to follow the governments example then we are to keep living beyond our means and keep going further into debt

D3xt3r5L4b

How do you know people are living beyond their means?
Plenty of people are getting along quite comfortably

eskbanker

spencerrothchild said:

If we are to follow the governments example then we are to keep living beyond our means and keep going further into debt

That 'if' is doing a lot of work there, as is the 'we' for that matter - why do you seem to believe that how you deal with your personal finances should be directly influenced by how the government handles the national exchequer?  I don't know about you but personally I'm not planning on bankrolling vast public services, pensions, benefits, national infrastructure, etc, etc....

spencerrothchild

D3xt3r5L4b said:

How do you know people are living beyond their means?
Plenty of people are getting along quite comfortably

The government is that’s what I’m saying

so why should not the people do what the government is doing