who's going to pay the bill

[pred]

If I am not wrong, the money is no longer tied to gold, so printing hundreds of trillions of dollars and distributing to all countries the same and equal amount, and USA dollar would dominate the world currency.

Isn't that similar to what's already happened and helps to explain what got the USA in such a mess?

(And for the picky pedants, I did say 'similar')

I think Frau Merkel has tried this and failed miserably, but its probably our fault because we didn't join the euro.

 

[chapeau]

It's debt that is based on assets that don't really exist - and as such should be written off...

Ah! So if I owe you twenty quid (a fiat currency) , I don't have to pay you back???

 

[empip]

One suggestion from April 2012...

-0-

 

[vinty]

Probably take another world war to sort things out.
In the 1930's grass was growing on the slipways of shipyards, the government said they could not intervene because the country couldn't afford it, once war was declared money was no object.

 

[Norcon]

Probably take another world war to sort things out.
In the 1930's grass was growing on the slipways of shipyards, the government said they could not intervene because the country couldn't afford it, once war was declared money was no object.

The british government was bankrupt and had to borrow billions from america and canada to pay for the war costs.

Everyone got off their arzes and worked back then also, not like now where millions claim benefits.

 

[Norcon]

It's debt that is based on assets that don't really exist - and as such should be written off...

Ah! So if I owe you twenty quid (a fiat currency) , I don't have to pay you back???

No you have to pay it back. You will have signed over assets to the lender as a gurantee.
Don't pay and you lose the assets.

 

[chapeau]

It's debt that is based on assets that don't really exist - and as such should be written off...

Ah! So if I owe you twenty quid (a fiat currency) , I don't have to pay you back???

No you have to pay it back. You will have signed over assets to the lender as a gurantee.
Don't pay and you lose the assets.

Nope, I borrowed twenty quid off him down the pub, unsecured loan, no collateral.

Now ellal says I don't have to pay him back.

 

[jeds]

Nationalise everything, allow people to only own 1 property, and the governments should provide free health care, and pensions, remove other benefits as they are being abused. Lawyers and doctors and bankers etc should all be Government employees, no one gets a big fat bonus or commission, Yup bring back communism if that is what this equates to, at least the gap between the poor and rich will average out and every one will have a fair chance of getting a job, own one house, one car, two children max, and so on.

But that's the Communist model that has failed in every single Communist Country that ever existed. The only ones left now are the brutal regimes like North Korea. Probably the only one that genuinely tried to serve the people was Cuba and even they've thrown in the towel now.

 

[AronSearle]

Yea, but maybe this time it will be different, I think we need to kill a few million more people to test communism.