The World's Debt Is Now More Than 300% The World's GDP! Why & Who Is It Owed To?
We now live in a world that has three times more debt than everything it produces in a year! This means every man woman and child on the world would have to work for three years, receiving nothing, just to repay this debt. This shocking development heralds a watershed in global finances and is not being discussed enough.
Even when you do research on this subject the topics of private central banks, fractional reserve banking, lending practices and artificial bubbles is not discussed anywhere in the mainstream media. This topic is the elephant in the room and they won't touch it.
I want to cover this subject in a simple, succinct manner and I will be pleased to read any comments.
Who Is This Enormous Amount Of Money Owed To?
I'm going to cut to the chase here. The truth is that most of this debt is owed to a very few private bankers. They own the central banks, the national banks, the credit card companies and all the major industries, financial or otherwise. This is not conjecture but was confirmed by a Swiss study which showed that less than 1% of global companies were able to control 40% of the whole network and included Barclays Bank, JPMorgan Chase & Co, and The Goldman Sachs Group.
Here is The Economists Global Debt live page which is where the above image was taken from.
The entire system is corrupt and in place to steal from the people at every stage of their financial enslavement. Although governments claim to have the people's interests at heart they don't. They have been bought and paid for a long, long time ago. The lack of effective government regulation has allowed bubbles and busts to happen for the banker's benefit again and again. With each inflation and deflation of the economy the bankers end up owning more real assets as they foreclose on people they have lent fiat currency to. It's a scam!
The whole system is set up around creating "money" out of nothing and loaning it to people for real productive power or assets. And they want interest too! Here is a brief description of some of the pyramid of scams involved in this process:
The Central Bank Scam
Create money out of nothing and lend it to the people at face value with interest! This interest can never be repaid because it didn't exist in the first place but payments by the people to service the interest must continue. This is also the birth of inflation which is yet another tax on people's earnings. For more information here is G. Edward Griffin explaining it for you! 😃
Fractional Reserve Banking
Fractional reserve banking allows banks to lend more than they have deposited. When you make a cash deposit of $1 with the bank they are allowed to make up many times that amount and lend that money out again. With interest! It's the same scam as central banks just one level down. All these players are owned by the same small group of people.
Booms & Busts
Central banks claim to be working to restrict financial crisis yet they have done the opposite. In each of these busts the strangle hold of the bankers tightens on the people. As interest rates change then people can't service their debts and the bankers foreclose on their clients and take their real assets in return for a scam.
Credit Cards
These are another mechanism to get the populace in debt. Australia with a population of 24 million owes over $32 billion in credit card debt! This is the same all over the world and is another financial scam. Use them very wisely! Don't borrow on them! Here is a brief video explaining part of the scam.
There are numerous other financial scams played against the people by a very small group of greedy families. The scam starts with the central banks and then filters down through the national banking, insurance and financial services industry. This ability to scam at every level has allowed these people to buy up almost our entire planet and has created the huge wealth divide we see today.
What Is Going To Happen?
You should be really concerned about this because it directly impacts everyone you know and love. This economic system is unsustainable. In fact it was set up to be unsustainable. There will be an economic crash in the future and with the state of global debt it will be nasty.
We have seen this before - people starving in the streets with no work! The bankers are happy - they have got away with their scam yet again! However this time we have crypto currencies as an option. How robust they will be during the dark times ahead is yet to be seen but I have some faith. The other options are physical precious metal or land with minimal or no debt.
The only freedom is through educating yourself and rethinking everything you were taught in school or have seen in the media. Think for yourself. There is a lot of excellent information out there and Steemit is a good place to start! 😉
Image sources: 1, 2, 3, 4, 5, 6, 7.
Jockey votes 4: @teamsteem, @ausbitbank
& Loves @canadian-coconut, @chron, @mammasitta, @samstonehill, @sift666, @v4vapid
First time I am reading a well-researched on a very interesting subject. This is so sad that the entire world is owing so much money to a few banks and financial corporations.
Yes, well researched it is @mmasim
Any guesses about how much interest on loans they've made since 1913?
I think what's most disturbing now is they really are just typing money into existence now via credit loans with the added economics of oligarchy which is vacuuming up most of the money that does exist into the hands of the 1% which makes the masses desperate for that loan at interest credit money.
Anything good going on in the world right now will eventually become null and voided by this issue if someone doesn't put a stop to it.
Great research and information you provided. This topic is extremely vital and overlooked by most of the society. As you stated, what is left to do is hope cryptocurrency can be the solution to this economic mess. Personally, I reccomend keeping your money in investments instead of banks. Credit cards are a huge expense to the American community and unfortunately many Americans fall for interest rates out of desperation for money.
Great article and topic you have touched @jockey
Right on Jockey, that's cuttin' to the chase. The whole system is a fraud, there is no doubt. It will end some day, the big question is when. Will Trump have something to do with this? And in what way. The mess he inherited is not fixable, the only way out of this mess is to start again. O tempora o mores!
The Federal Reserve is the largest and legalised form of fraud. It's appalling that this corrupt organisation has been allowed to operate for as long as it has with impunity.
It's crazy to think there is more debt than there is money in circulation. If all banks and financial institutions were to call in their debts tomorrow, there is no way for them to all be paid. This truly highlights how fraudulent banking is. Got to love fractional reserve banking and the intentional complex quanative easing huh?
Hubby was just talking about this the other day. The mind boggles!
new world order...the 13 illuminati bloodline families
As the article point out these 58 Trillion debt is hold mostly by bankers. So how did this bankers earn this much of money to loan out? that's the magic of Fractional reserve .
Crypto currencies directly challenge this model . I have seen many MSM talking heads ask the question "what is bitcoin is backed by? " . Suddenly these pundits want to know what it's backed by isnt that funny?.
Not a single MSM pundit have an issue with Fiat money which is backed by nothing. They will say "it's the faith in government blah, blah" but these government central banks(US Federal Reserve) are owned by private banks and the government is in there pocket.