Re: I Found Some Figures

"the debt simply cannot be paid back. impossible, no way, no how. you cant pay back $53 Trillion with $829 Billion. unless my math is wrong, this simply cannot happen."

Your math is correct.

A long time ago, bankers realized that since so few people withdrew money from their vault at any given time, that the bank could loan out "money" that it didn't physically have in the vault, and people would be none the wiser. Over a long period of time, banks become so rich by this practice, and so much "imaginary money" was being lent out, that the amount in interest owed to banks actually exceeded the physical amount of dollars which the clients held in the vault.

What this means is that it is physically impossible for EVERYONE to pay off their debt. It cannot happen, because more money is owed to banks than actually exists. The rest of the "money" is an imaginary figure that banks pretended to give people, because people treated it like money even though it doesn't exist. However, once the actual amount of money that exists is repayed, that being the only money which exists, any amount owed past that cannot be payed. The only way to pay it is to borrow more money from the bank (which will put you even more in debt) or pray that the government will add assets to the economy which can be used to generate more actual money.

There is a solution for this, however. If you get enough people to withdraw at the same time, what is known as a "run on the bank" will deplete the bank's actual assets to zero. Then all they have to fall back on is their credit, which is destined to crash one day anyway. Of course, since virtually all banks are involved in these banking practices, it means that just about every single bank will have to go out of business before everyone can really settle their debt. But this is still probably a better option than hoping that the government will solve the problem. Because the government is only making it worse by endorsing these banks. Tweet