A Question. Economic Reset. Pros Versus Cons

I know a lot about different subjects. Economics is NOT one of them. Please treat this as educating a middle aged man, not an attack post. What are the pros versus cons of reseting the worlds economies? Wipe out debt and have a "Do Over" under a BACKED currency. I know the fat cats wont like it because they would have to start over on their quest to keep us in line. But what else.....? Just needing educated by people who may see the picture bigger than I can. Thanks!
5pooky...

reply to post by 5pooky


I'm all for that! It's time to turn in the game pieces and start this game all over again with a new set of rules. The world's debt is getting out of control and the hole is just too deep. I say if we start over, we also clear house of all current government officials.

You know, there has been a good deal of discussion about this subject and no shortage of pissing contests here on ATS. Personally, from everything I've read in the macro-economics circles, it is inescapable from a mathematical point of view. The current system is going to blow-up --- we just can't be sure when. The wealthy-elite are the ones who run it and are doing everything they can at the moment to position all the pieces so when it DOES happen they will come out on top (as usual). Look at all the rampant fraud that has come to light in recent months. They're not even attempting to hide what they are doing anymore and, as we've seen, no one is being held accountable. I liken it to the crew stripping the ship of everything valuable when they know it's about to end up on the reef.

I just hope when everything does blow-up people remember who it was that was responsible. 'They' are going to do everything they can to get us fighting amongst ourselves to keep the focus off them. Just like the 2007 implosion. Remember? It was red-necks buying homes they knew they couldn't afford. Yea right.

reply to post by 5pooky


Sure, just give me a few months to go buy many large properties I know I could never afford, then you could forgive me of my debts!
Those retirees and social security crowd are gonna be a little angry though when their retirements were forgiven away though.
I would just hold on to what we got and fix the leaks we have and right the ship.

reply to post by g146541


You'd still be responsible for your debts.

We can't just wipe out debt that was entered into between private parties.

What we can do is forgive/forget all the imaginary interest debt on the fiat currency. Crooks dont deserve compensation.

Exchange paper notes for their current gold/silver value.

Then move on with currency that is actually worth something and gaining in value the world over rather than play with monopoly money and chuck-e-cheese tokens that cost us more and more everyday.

There is no such thing as a "reset" or forgiving of debt. you cant just forgive the worlds debt. Doing so is the same as collapsing the worlds economy. Sad to say but the good times are now. We have power, running water, supermarts to pick up food, and garbage services to haul waste away. I belive whats coming will be a very large reset. A reset into the 2nd dark ages. It will take 100's of years to get back to the level we are at now once this happens.

there really is no pros about it unless your already a homesteader. If thats the case then nothing much will change for you other then securerity

reply to post by thisguyrighthere


All I see is a thousand loopholes where fatcats can jump through.
But if the currency debt was what the OP was talking of, yeah!
Better yet, let's find every person involved in this illegal activity and put them on trial.
Then after that is done with, we figure out how that ever happened and make sure it never happens again.
Only in a perfect world ya know?

Those who want to have a 'backed' currency keep forgetting one thing.
There isn't enough gold to cover all the money in circulation.
The value of Americas goods and services outgrew the supply of 'backed' greenbacks years ago. If you remove the excess dollar bills you would crash the economy.

reply to post by g146541

All I see is a thousand loopholes where fatcats can jump through.

I used to feel this way until I started playing the stock market.

When you start earning more money, either stock market or salary, you start seeing inequities is the way you are treated.
Look into the real facts before you trash people who EARN more money than you do.

Facts:
Most rich people pay more in taxes than you earn in a year.
Almost no rich people pay zero in taxes. Less than 400.
Almost half of the population (lower earners) pay no taxes.
Donate far more in cash to charities than you spend on clothes per year.

If someone pays 30K in taxes why is it fair...
That they have to drive the same crappy roads as everyone else.
Their trash is picked up once a week like everyone else.
Stand in the same lines at the DMV or any gov office.
Are denied free legal counsel.


Almost no one was handed wealth. They got off their asses and earned their way to the top. You (and I) could have done the same thing but you spent your (and my) youth drinking beer with your buddies or just chilling out.

Try the stock market you will learn far more than just stocks.