wake_up_bomb wrote:
Sums it up nice

i don't really get why people see British global debt as such a problem, really we've taken about that much from other countries so it's only fair.

Mike wrote:
British global debt? Wtf?
/slaps gue with a kipper

andyh wrote:
what's with the we've?

I must have left my share somewhere,i don't seem to be able to find it.

we've should be banned from the english language IMO.

wake_up_bomb wrote: Actually its totally irrelevant
Who does the world owe this debt to fucking Saturn

Owed to central banks basically.

Isn't this debt owed to lot's of different organisations, private companies, private individuals, other nations, bondholders etc?

I was kind of working on the assumption that it's Central banks like the ECB or Fed reserve who loan credit to nations that have been exploited, sucked dry by the aforementioned private capitalist interests?

lol

The central banks loan to high st banks along with govts.
In the end all debt is due to return to central banks. Like a circuit diagram with + on one end and - on the other. Only the central banks are both the + and the - ends

They say on DIF that all the debt is owed to the you know it rhymes with who's and never has to be paid back...

What you have to get your head around is that debt=money.

Money is only ever created out of debt, more debt = more interest and therefore economic expansion required to pay it back also has to increase...only thats not happening anymore :p

Ergo, we're fucked.

I think people scaremongering about debt indirectly and directly justify austerity politics.

Mike wrote:
Lol it doesn't matter what they do now they're fucked no matter what, austerity leaves no expansion and spending would just increase debt beyond ability to meet payments.

There is only the 100% digital solution I mentioned or global debt clearance, that's all there is to it

There seems to be a little confusion on this topic. Never mind, I will update the thread in a couple of weeks. Maybe it will sink in eventually.

wake_up_bomb wrote:
lol, not likely

wake_up_bomb wrote: What should be done about the debt, do we need to start trying to pay it back?

You seem to think global debt levels warrant perpetual repetition but I don't really know why, what are you trying to make "sink in" to everybody's mind?

Mike wrote: I have explained this several times, but the answers to your question are within these videos:

Oh ffs.
stop teasing and share the links then:
"I have explained this several times,"

Mike wrote:
2 vids there explaining it, did you miss it somehow?

Mike wrote: Well, I have! I've posted the videos for your benefit, it is in your interest to watch them. I mean that sincerely. It won't make any practical difference to me one way or another whether you watch them, I have already watched them, and I already understand the situation. I can't do any more than put the information in front of you.