Why the world is drowning in debt yet again

submitted by SoCo from (telegraph.co.uk)

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[–][deleted] 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

It's about time people shift blame of the manufactured nature of the recent 'recession' and how several countries proved that shutting down society to save a couple of people from a tickly throat was pretty unnecessary. That and sending ridiculous sums of money printed out of thin air to some shithole country in the East of Europe, one of the most corrupt countries in the world.

[–]iamonlyoneman 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

plot twist it never stopped

[–]Tom_Bombadil 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Easy answer: The world uses debt-based fractional reserve fiat currency.

In this system there is always more debt than currency.

Necessarily.

As a fundamental featurep of the system.

This system is 100% doomed to inevitable failure.

Financial markets were stable for over 500 years under the gold/silver standard. Depending upon the civilization. China favored silver.