One simple way to solve global debt, hyper inflate the US dollar.steemCreated with Sketch.

in #life7 years ago

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So I got to thinking about debt, personal debt, national debt and international debt. It got me wondering, the USA possesses the global reserve currency, the US dollar. The planet is in very deep debt with nations being in debt upwards of 70% of their GDP. Interest on those debts are becoming unmanageable.

If the IMF and World Bank lend money to other countries, for investment and infrastructure development, they do so in the global reserve currency, the US dollar. Those countries then exchange their dollars into the required currency for national transactions. But will have to pay their debt in US dollars.

So here's the thing, many nations owe trillions of US dollars to the IMF and World Bank. The US dollar is reasonably stable but is manipulated and artificially propped up. Is the world waiting for the dollar to collapse? If there is rampant and uncontrolled inflation the debt in US dollars will be a lot cheaper to pay off. So for example, today a trillion dollars may cost a trillion euros, but if the dollar hyper inflates, a trillion dollars may only cost a million euros.

Is the world waiting for decentralised crypto currencies to become established, there by affording the opportunity to crash the dollar, pay off the their debt, but not cripple their economy's? Has your nation been canny enough to borrow and invest in infrastructure, or has your nation fallen fowl of politicians lining their pockets and the pockets of their friends?

Has that been the plan for a while? Perhaps since the 2000? With the 2008 'crash' a way of ensuring everyone was singing off the same song sheet? We'll have to wait and see.