Monday 9 September 2013

The Result of Every Nation Abolishing their Debt


Some readers have asked what would occur should every single government in the world just abolish, or default, on their debts. Although the answer may be simple to those who understand the global economy, for most it is quite a real question. If every single country in the world just decided to default on their financial obligations, the following would most likely briefly describe the general result. 
What if this was all eliminated? 

  • First realize that there are different governmental levels. Federal, State (Provincial) or Municipal (city). Each level has debt and obligations in the form of bonds. We’ll assume for the sake of the scenario that each level of government decides to default on their obligations completely wiping out their deficits and budget shortfalls.
  • This would wipe out the bondholders. Who are they exactly? Well institutional banks, international organizations such as the IMF or World Bank, could be another layer of government loaning to another (Federal to State/City does happen), personal investors, or even charities in the form of trying to keep a fund alive.
  • Why do you care? Well, banks invest the savings of their customers. This would completely wipe out the savings of most of the population, and destroy bank’s ability to issue credit. Why is credit needed? For almost everything from beginning a business, to buying a new car on payments, to buying a house with mortgages, you get the point. Bank’s would have a lot less liquidity and would essentially stop loaning.
  • International organizations who have now no fire power to help around the world with problems such as natural disaster to supplying rebels with the ammunition to overthrow their tyrannies would cease to exist. Why? They simply would have no money.
  • Personal Investors and people who invested in the bank or government bonds would see their entire life savings wiped out in most cases. This would flood the job market with anyone who was retired as they would be forced to work again.
  • The job market would be non existent as there would be no liquidity. Credit is used on a daily basis by millions of corporations around the globe to conduct daily business, like manufacturing plants securing parts in to continue production. Without credit this fiat currency based economy does not run. The money multiplier effect would cease to exist. The bank runs that would occur would destroy all banks. 
  • Governments may be debt free, but no one in their right mind would lend them money again. This would cut funding for many programs from Health Care, Welfare, to basic stuff such as police and fire fighter services.
  • With cutting to all these services as the government could not raise money from issuing bonds, the job market destroyed, bank runs causing the destruction of financial institutions, little taxation revenue, chaos would ensue.

    In simple terms, the above would be the answer to the question. The chain reaction should all governments default on their debt would be catastrophic, and most likely reset global economic activity a decade. 

63 comments:

best sales blog said...

Thanks for such a nice blog. As per the sales and financial issues its an great thought.

lolyta said...


MACAM - MACAM ALAT BANTU SEX PRIA DEWASA

JUAL BONEKA SEKS FULL BODI TERBARU


JUAL VAGINA PANTAT BERTATO GETAR SILIKON


JUAL TENGA ALAT BANTU SEX


JUAL ALAT BANTU ONANI FLESHLIGHT


JUAL VAGINA PINGGUL FULL SILIKON


JUAL VAGINA BULU GETAR

MACAM - MACAM ALAT BANTU SEX WANITA DEWASA.


JUAL VIBRATOR FANTASY BLISS MURAH


JUAL ALAT BANTU WANITA VIBRATOR THORN DRAGON


JUAL SEX TOYS HAPPY SOME


JUAL PENGGELI PUTING PAYUDARA


PENGGELI VAGINA TERBARU MIC


JUAL C-STRING ALAT SEX WANITA



PENGOBATAN DAN OBAT KESEHATAN HERBAL ALAMI


SEMENAX OBAT HERBAL PENYUBUR SPERMA


OBAT PERANGSANG UNUTUK PRIA ATAU WANITA


OPIUM SPRAY

JUAL PERANGSANG RED SPIDER CAIR



OBAT DAN ALAT PEMBESAR PENIS

VMENPLUS HERBAL

VIMAX PEMBESAR PENIS DEWASA

MAXMAN CAPSULE

PRO EXTENDER

VMENPLUS
VMENPLUS HERBAL
PEMBESAR PENIS ALAMI
OBAT EJAKULASI DINI
OBAT VMENPLUS

Unknown said...

Thanks for sharing this nice post.

Packers and Movers in Gurgaon @ http://getpackers.com/packers-and-movers-gurgaon/

Packers and Movers in Kolkata @ http://getpackers.com/packers-and-movers-kolkata/

Packers and Movers Delhi @ http://getpackers.com/packers-and-movers-delhi/

Thanks for sharing this nice post.

http://getpackers.com/packers-and-movers-kolkata/

http://getpackers.com/packers-and-movers-gurgaon/

http://getpackers.com/packers-and-movers-delhi/


Packers and Movers @ http://5thpm.in/

Packers and Movers Gurgaon @ http://5thpm.in/packers-and-movers-gurgaon.html

Packers and Movers Delhi @ http://5thpm.in/packers-and-movers-delhi.html

Thanks for sharing this nice post.

http://5thpm.in/

http://5thpm.in/packers-and-movers-gurgaon.html

http://5thpm.in/packers-and-movers-delhi.html


Packers and Movers

Packers and Movers in Gurgaon

Packers and Movers in Delhi

Packers and Movers Kolkata

Packers and Movers Gurgaon

Packers and Movers Delhi

Unknown said...

Thanks for sharing this nice post.

Packers and Movers in Gurgaon @ http://getpackers.com/packers-and-movers-gurgaon/

Packers and Movers in Kolkata @ http://getpackers.com/packers-and-movers-kolkata/

Packers and Movers Delhi @ http://getpackers.com/packers-and-movers-delhi/

Thanks for sharing this nice post.

http://getpackers.com/packers-and-movers-kolkata/

http://getpackers.com/packers-and-movers-gurgaon/

http://getpackers.com/packers-and-movers-delhi/


Packers and Movers @ http://5thpm.in/

Packers and Movers Gurgaon @ http://5thpm.in/packers-and-movers-gurgaon.html

Packers and Movers Delhi @ http://5thpm.in/packers-and-movers-delhi.html

Thanks for sharing this nice post.

http://5thpm.in/

http://5thpm.in/packers-and-movers-gurgaon.html

http://5thpm.in/packers-and-movers-delhi.html


Packers and Movers

Packers and Movers in Gurgaon

Packers and Movers in Delhi

Packers and Movers Kolkata

Packers and Movers Gurgaon

Packers and Movers Delhi

Movers and Packers Online said...

Malleswaram
Kanakapura Road
Mahadevapura
Kaggadasapura
Koramangala
JP Nagar
Jayanagar
Hubli
Jalahalli
Mangalore
Bellary
Bannerghatta Road
Shanti Nagar
Madikeri
Bangalore to Chennai

fiki said...

Helpful info. Lucky me I discovered your web site by possibility, and I'm surprised why this twist of fate didn’t happened in advance! I bookmarked it.
Nitro Pro 9 Crack

Rhea Jain said...

Packers And Movers in Delhi designate you a simple of covering the administrations like family/private moving, office exchanging, products moving , stacking and emptying, and so on most importantly if there should arise an occurrence of delay additionally we give you the office of warehousing your extensive measure of merchandise. Whether deferral is from your side or from our side or because of any normal catastrophe we are in charge of the wellbeing and security of your profitable stock for a week prior and then afterward the enrolled dates of migration to us.
http://packers-and-movers-delhi.in/
http://packers-and-movers-delhi.in/packers-and-movers-patiala-house-delhi

prekhsha sharma said...

Packers and Movers Kolkata who are not only trust able and reliable but are eager to help you at their best. Along with this when you are about to hire services you have option for complete shifting of goods or you can shift only few selected items. Plus you need to consider the correct amount of time and energy required, cost involved for the same.
http://blog.kolkatapackersmovers.in/
http://kolkatapackersmovers.in/packers-and-movers-chetla-kolkata

Anonymous said...

Wow nice collection of
happy new year wishes 2016

New year messages 2016

Happy new year images 2016
New year quotes

Mobile App Developers said...

Hey keep posting such good and meaningful articles.

Uffaq Butt said...


Happy Valentines Day 2016
Valentines Day 2016
Valentines Day Quotes
Valentines Day Cards
Valentines Day Status
Valentines Day Saying
Valentines Day SMS
Valentines Day Wishes
Valentines Day Poems
Valentines Day Cakes
Valentines Day Gifts
Valentines Day Surprises
{Awesome *Valentines Day Gift Ideas** 2016 For Her
Best Rose Day Quotes 2016 For Your CrushTop

* 40 Best Happy Valentines Day 2016 HD Wallpapers
Best Romantic Valentines Day Messages & Text 2016

25 Awesome Valentines Day Facebook Cover Photos 2016

Anonymous said...

The day is celebrated with the name of the god of this

constitution of India.Kiss Day Pictures Love is the most wonderful of all feelings in this world.Promise Day Wishes In Advance It’s Valentine‘s Day2015 and what could be
Valentinesday comes on 14th February Valentines Day One Liner SMS As we all know propose day

is arriving and all the couples and gf/bf have been started to

plan up day

John said...

lebron james shoes 13
coach outlet store
lebron 11
coach factory outlet online
uggs on sale
abercrombie & fitch new york
pandora charms
michael kors outlet
canada goose sale
abercrombie & fitch
louis vuitton
gucci outlet
ugg outlet online
ralph lauren uk
coach outlet online
abercrombie outlet
michael kors outlet
louis vuitton handbags
louis vuitton
nike huarache
michael kors outlet
ugg outlet
nike trainers uk
true religion outlet
louis vuitton handbags
ugg boots
louis vuitton handbags
ralph lauren outlet
nhl jerseys
michael kors outlet
ugg boots on sale
canada goose jackets
kobe 10s
chanel outlet
coach outlet store online
ugg outlet
uggs for women
air max 90
louis vuitton handbags
2016222yuanyuan

Tobby Wells said...

I like your post and very well said.

http://www.webmasterresources.us/

Tobby Wells said...

Really i am impressed from this post.the person who created this post is a genious and knows how to keep the readers connected.

Guide to Buying Trucks the Right Way

Daavvy said...

IPL 2016 live streaming
IPL t20 live streaming
IPL live score
IPL live streaming
IPL t20 live streaming
Box Office Collection
Movie Collection
Application form 2016
www.projectus.in

Unknown said...

ssc results 2016 telangana
ssc result 2016
ts ssc 2016 results
ts 10th class results 2016
ts ssc results 2016
ts ssc result 2016

ssc results 2016 telangana
ssc result 2016
ts ssc 2016 results
ts 10th class results 2016
ts ssc results 2016
ts ssc result 2016

ipl9pointstable said...

ipl 9 points table
ipl 2016 points table
ipl points table 2016

ipl9pointstable said...

ipl 9 points table
ipl 2016 points table
ipl points table 2016

ipl9pointstable said...

ipl 9 points table
ipl 2016 points table
ipl points table 2016

ipl9pointstable said...

ipl 9 points table
ipl 2016 points table
ipl points table 2016

Suhail Alam said...

Vivo IPL Squad 2016
Vivo IPL Schedule 2016
Vivo IPL Players Lists 2016
Vivo IPL Gujrat Lions Squad 2016
Vivo IPL KKR Squad 2016
Vivo IPL Book Online Ticket 2016
Vivo IPL Rising Pune Supergiants Team 2016
Vivo IPL Mumbai Indian Team 2016
Vivo IPL Sunrisers Hyderabad Team 2016
Vivo IPL Royal Challengers Bangalore Team 2016
Vivo IPL Kings XI Punjab Team 2016
Vivo IPL Online Ticket Booking 2016
Vivo IPL Watch Live Score 2016
Vivo IPL Kings XI Punjab Team 2016
Vivo IPL Point Table Team Standing 2016
Vivo IPL SRH VS RCB Match 2016
captain america civil war movie
captain america civil war movie release date
captain america civil war movie cast and story
captain america civil war movie trailer

Suhail Alam said...

happy mothers day
mothers day sms 2016
mothers day quotes 2016
mothers day images 2016
mothers day gift ideas 2016
mothers day poems 2016
mothers day wishes 2016
happy earth day
earth day sms 2016
earth day quotes 2016
earth day images 2016
earth day message 2016
earth day facebook message 2016
earth day quotes message 2016
earth day poems 2016
earth day wishes 2016
happy earth day message 2016
happy earth day quiz 2016
earth day greetings 2016
happy passover day
passover sms 2016
passover quotes 2016
passover wishes 2016
passover images 2016
passover day Message 2016
passover Message 2016
passover quotes 2016
passover greetings 2016
passover cards 2016
passover sms wishes 2016
passover pics images 2016
Vivo IPL 2016

Suhail Alam said...

Vivo IPL Squad 2016
Vivo IPL Schedule 2016
Vivo IPL Players Lists 2016
Vivo IPL Gujrat Lions Squad 2016
Vivo IPL KKR Squad 2016
Vivo IPL Book Online Ticket 2016
Vivo IPL Rising Pune Supergiants Team 2016
Vivo IPL Mumbai Indian Team 2016
Vivo IPL Sunrisers Hyderabad Team 2016
Vivo IPL Royal Challengers Bangalore Team 2016
Vivo IPL Kings XI Punjab Team 2016
Vivo IPL Online Ticket Booking 2016
Vivo IPL Watch Live Score 2016
Vivo IPL Kings XI Punjab Team 2016
Vivo IPL Point Table Team Standing 2016
Vivo IPL SRH VS RCB Match 2016
captain america civil war movie
captain america civil war movie release date
captain america civil war movie cast and story
captain america civil war movie trailer

Karan Arora said...

Earth Day Celebrations
Earth Day Celebrations Ideas
Happy Earth Day Celebrations

Unknown said...

Nice information thanks
ufc 198 live stream
watch ufc 198 live stream
ufc 198 live streaming
ufc 198 live
ufc 198 stream

Suhail Alam said...

happy mothers day
mothers day sms 2016
mothers day quotes 2016
mothers day images 2016
mothers day gift ideas 2016
mothers day poems 2016
mothers day wishes 2016
happy mothers day quotes 2016
mothers day quotes 2016
happy mothers day sms 2016
happy mothers day wishes 2016

Suhail Alam said...

happy ramadan 2016
ramadan time table 2016
ramadan message 2016
ramadan SMS 2016
ramadan Images 2016
ramadan Quotes 2016
ramadan Greetings 2016

Unknown said...

7.11lllllyuan"cheap nfl jersey"
"chrome hearts outlet"
"true religion outlet"
"true religion jeans"
"tory burch outlet"
"nike air huarache"
"nike huarache"
"cartier sunglasses"
"michael kors outlet"
"ferragamo shoes"
"coach outlet online"
"christian louboutin outlet"
"beats headphones"
"louis vuitton handbags"
"louis vuitton pas cher"
"true religion outlet"
"tiffany outlet"
"ralph lauren pas cher"
"herve leger outlet"
"christian louboutin shoes"
"christian louboutin uk"
"timberland shoes"
"michael kors canada"
"michael kors factory store"
"nba jerseys"
"tiffany outlet"
"basketball shoes"
"toms shoes"
"air jordan shoes for sale"
"adidas wings"
"mulberry handbags"
"ralph lauren outlet"
"ferragamo shoes"
"michael kors handbags"
"ralph lauren polo"
7.11

Suresh Joshi said...

Parents Day 2016
Parents Day Images
Parents Day wallpapers
Parents Day Quotes
Parents Day Message
Parents Day Wishes
Parents Day SMS
Parents Day Whishing Message
Parents Day greetings

Friendship Day 2016
Friendship Day Images 2016
Friendship Day Wallpapers 2016
Friendship Day Message 2016
Friendship Day Quotes 2016
Friendship Day Wishes 2016
Friendship Day SMS 2016
Friendship Day Greetings 2016
Friendship Day Whatsapp Status 2016

Anonymous said...

this is the awesome article. keep sharing like this. looking forard to more posts

happy friendship day 2016 celebration

Unknown said...

Great post!! Thanks a lot for this kind of perfect topic. I have not a lots of information about it but I have got an extra unique info in your unique post.
Anti-Valentine day
Missing Day SMS
Breakup Day SMS
Confession Day SMS
perfume day sms
kick day sms
slap day sms

Unknown said...

Best Outfits For Young ladies, Womens and Girls
We Have Some For You In Your Budget For more…
Plz visit:- Ramzan Mubarak Photos

Anonymous said...




Designer Kurtis is perhaps the desire of every single girl in this world to look amazing on her day.
It is certainly important that the bride must be the star of the show.The most beautiful woman at the wedding venue.
In India,Designer Kurtis are the most obvious choice for the brides.There are many designer Kurtis in our site...
For more...
Plz visit:- Designer Kurtis

Anonymous said...


Designer Designer Sarees is perhaps the desire of every single girl in this world to look amazing on her wedding day.
It is certainly important that the bride must be the star of the show.The most beautiful woman at the wedding venue.
In India,Designer Sarees are the most obvious choice for the brides.There are many Designer Sarees in our site...
For more...
Plz visit:- Designer Sarees

Unknown said...

26 January Republic Day Images

Republic Day Images

Unknown said...

StamiMax Ask most fitness trainers what is economical goal for their female clients and theyll almost inevitably tell you most womens goals are to have tight lower half of. The thing is there are so many conflicting arguments in order to how best realize them. Congratulations, you may wan to exactly what can help you. The solution is Male Enhancement Supplement s or medicines. http://jackedmuscleextremeadvice.com/stamimax/

top 10 said...

Hi do check out all New Shows winner List with Special post
American Idol 2018 Winner Name
American idol who will win
American idol 2018 who won the finale
American idol 2018 Winner Name Announced
American idol 2018 Finale winner Name
American idol 2018 Winner Spoiler
American Idol 2018 Winner Name
American idol who will win
American idol 2018 who won the finale
American idol 2018 Winner Name Announced
American idol 2018 Finale winner Name
American idol 2018 Winner Spoiler

Mathew said...

Frustrated with Errors in your Quickbooks ? Dont worry We have a permanent solution for you. The comprehensive designing of QuickBooks also fails in functionality at times, which if not looked into at the right time can have catastrophic consequences to your business. Make sure to Scan your Quickbooks Time to time from QuickBooks Tech Support Phone Number 1888-396-0208 to avoid Errors or corruption. It is a great risk to your business if you lose your important financial data stored in QuickBooks. Dial our Toll free QuickBooks Support Phone Number to take the Help from our Certified Technicians.

YO YO HONEY SINGH said...

Error 6000 series is the most encountered error and we have provided solutions to each error subsumed by this series.Chat, call and Remote access work in addendum to each other. Dial our number +1888-396-0208.QuickBooks Payroll Support.

Unknown said...


Solution for QuickBooks W2's errors and Merchant problems and more. QuickBooks Payroll Online Support Phone Number.Creating unlimited paychecks, automatic tax calculation, avoiding tax penalties whatever help you need, we provide customer service for all. With our excellent QuickBooks customer service, we are determined to solve your problem.Dial 1888-567-1159 to contact us.



Mathew said...

Another essential thing about the Quickbooks POS Support 1800-291-2485 version is that it can be effortlessly incorporated with Apple's iOS gadgets, for example, iPhones and iPads. This will enable you to dependably stay updated.QuickBooks PoS requires a permit to be utilized by the separate business. In the event that you need to try this software out, get it for a 30-day trial from the producer's site.

Mathew said...

We help and provide the solution your problem instantly. The Quickbooks Enterprise 247 1800-291-2485 QuickBooks have assisted issue when it come while using the Accounting software. We have quit experienced and certified technician who can help support and help you and resolve the problem of quickbook enterprise.

rdsraftaar said...

Call our toll free QuickBooks POS Customer service Phone Number +- - whenever of the day and get associated with a professional. We can sort out your books effectively and deal with general information reinforcements locally and on cloud. Buy in for QuickBooks Support Plan for continuous support. Simply call or talk with us and get your inquiries replied.

accountingwizards said...

Another purpose behind the demand of the QuickBooks Enterprise is the support given to its clients immediately. Similarly as with other software, even Enterprise version will undoubtedly fall eventually. To determine any issues identified with the software the most ideal arrangement is the accomplished Quickbooks Enterprise tech Support1888-557-6950 Team.

موقع الدليل الخدمي said...

https://weesaal.blogspot.com/2018/12/transfer-furniture-taif.html

نقل عفش بمكه
نقل اثاث بمكة
نقل عفش في مكة
نقل عفش من الباحة لجده
نقل عفش من جده للدمام
نقل عفش من جده لرابغ
نقل عفش من جده لينبع
نقل عفش من جده للمدينة
نقل عفش من جده للخبر

Techxinx said...

this is the awesome article. keep sharing like this. looking forward to more posts, keep it up, if you want best packers and movers in Bhopal contact us, we provide the best service across the world,

professional packers and movers
movers and packers Bhopal
packers and movers in Bhopal
movers and packers in Bhopal
packers and movers Gandhinagar
expert packers and movers
professional packers
shifting solutions
easy packers and movers

Kamil Herbal said...

thank you very useful information admin, and pardon me permission to share articles here may help :

Cara menyembuhkan jantung lemah
Cara menyembuhkan scabies
Cara menyembuhkan dermatitis atopik
Cara menyembuhkan infeksi telinga
Cara mengobati emboli paru
Cara mengobati syaraf kejepit di tangan
Cara mengobati hidrokel pada bayi
Cara mengobati infeksi usus secara alami

quickbboks tech support phone number +1(855)-236-7529 said...

Phone Number for QuickBooks Payroll Support +1-855-236-7529. Call us anytime at our Phone Number for QuickBooks Payroll Support +1-855-236-7529 to enjoy our applaudable services. Phone Number for QuickBooks Payroll Support +1-855-236-7529 is answered round the clock where experts provide one in all support services for QuickBooks Payroll. Or contact at QuickBooks error 3371 status code 11118
Read more: https://tinyurl.com/y2hwz69t

Ilead said...

QuickBooks accounting software created a benchmark in the area of accounting & bookkeeping. In the past few years, the demand for this software increased so much that the Intuit has to double the productivity. In this post, we are going to discuss the quickbooks error code 80029c4a. This informative post includes topics like its causes & resolution.However, if the error code persists – you can contact the certified QuickBooks technicians of QuickBooks Error Support. Or you can get in touch with them by making a call on their toll-free number .i.e. +1(800)396-7703.

موقع الدليل الخدمي said...

شركة نقل عفش بالطائف
شركة نقل عفش في الطائف من اكبر الشركات فى المملكة المتخصصة فى جميع خدمات نقل وتغليف وتخزين الاثاث بالطائف

شركة نقل عفش في جدة
شركة نقل عفش بمكة
شركة نقل عفش بالباحة
شركة نقل عفش بالدمام
شركة نقل عفش بالرياض
شركةنقل عفش بينبع
شركة نقل عفش بالمدينة المنورة
شركة نقل عفش بالخبر

QuickBooks Support Phone Number said...

QuickBooks users might face technical issues but they can resolve them shortly, with the help of brilliant executives. They can report all queries and problems to customer care executives. The squad would provide meaningful solutions to its users at QuickBooks Support Phone Number +1-844-232-O2O2.read more:-https://tinyurl.com/y42ywocq
& visi us:-https://jamessmithsu.wixsite.com/quickbookssupport

etechnocraft said...

Starting a Business
Starting your own business can be thrilling and exciting, but also daunting. If you are considering. Small Business Strategy. More From Forbes. please visit rightnetwork.in.Starting your own business.

etechnocraft said...

Women's Kurtis Online

Fancy Kurtis For Women. The Kurti or Kurta is an outfit that has stretched beyond its time and look effortless on the go. Admit it girls, nothing can make you look women dress.

unknown said...



Makar Sankranti Quotes and images : 20 unique quotes and images to wish Happy Makar Sankranti.

Latest love-shayari
in Hindi, True Love Status.

unknown said...

Thank you for the idea on this subject.
Absolutely going to look for more on this on the internet as it is of a rising problem.
Keep up the good work.
Thank you again

write for us automotive

NIA said...

*Great job, I was doing a google search and your site came up for homes for sale in Altamonte Springs, FL but anyway, I have enjoyed reading it, keep it up!

Write for us Education
Write for us Technology
Write for us Travel

NIA said...

A fascinating discussion is definitely worth comment.
I do think that you should write more about this subject matter, it
may not be a taboo subject but usually folks don’t talk about such topics.
To the next! Many thanks!!

Write for Gambling
Write for us Education
Write for us Automotive
Write for us Technology
Write for us Law

Rahul Sharma said...

I’m really impressed along with your writing abilities and also with the format for your blog. I discuss more some ideas Write for us gambling please read

Kajal said...

Wow, Interesting Post, I was doing a google search and your site came up for homes for sale in Altamonte Springs, FL but anyway, I have enjoyed reading it Satta King

loanontime said...
This comment has been removed by the author.
loanontime said...
This comment has been removed by the author.
Toney Wix said...

I was suggested this website by my cousin. I am not sure whether this post is written by him as no one else know such detailed about my trouble. You are wonderful! Thanks!

malayalam quotes
love quotes malayalam
sad quotes malayalam
motivational quotes in malayalam
friendship quotes malayalam

Post a Comment