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/biz/ - Business & Finance

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13325592 No.13325592 [Reply] [Original]

We are resetting the debt, its not like they have a army to take goods

>> No.13325669

>>13325592
In all reality? Financial collapse. Debt isnt just money that the government owes. Its also individuals who owe money to individuals, corporations that owe money or inviduals, and vice versa.

If if governments just said "Nobody owes anyone any debt anymore!" Then banks wouldnt be able to collect on their loans, companies that were fine would collapse. Colleges wouldnt be able to collect on student debt, the financial system would lose 50% of its value overnight, and tons of people would lose out of X and Y paychecks here and there.

>> No.13325685

>>13325669
50% loss still wouldn't cause a collapse. things would ruff four a while but it would recover.

>> No.13325715

>>13325592
Trust and reputation goes a fuck long way more than money.

>> No.13325738

>>13325592
Are you retarded? Only some third world shitholes owe to the World Bank.

>> No.13325751
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13325751

>>13325738
Tell that to Greece, Italy, and Spain lmao.

>> No.13325758

>>13325592
>>13325738
I mean, governments would have to tell other governments, their own citizens, corporations and banks to go fuck themselves. Not the fucking World Bank.

>> No.13325788

>>13325751
Only Italy is in top 10 economies. And how much exactly does Italy owe to the World Bank? Minuscule share of their total debt.