ECONOMIC CRISIS: There Is Now Officially 3 Times More Debt In The World Than Money
It has been reported that this astounding level of debt is causing major cause by investors on top of ongoing concerns about the Federal Reserve’s monetary policy.
Is the global economy coming to an end?
According to the CIA, the total amount is $80 trillion if you include
“broad money.” Broad money its not exactly physical cash but rather
accessible cash so things such as checking accounts, savings accounts,
money-market accounts. Anything which is not considered physical but you
can make a bank transaction digitally and use that as money,
If you include this figure then total estimated value of all the
money in the world is $80 trillion. The figures pales into
insignificance when compared to the aforementioned global debt figures.3 Times More Debt In The World Than Money
CNBC & Bloomberg have reported the news of this increase in global debt figures, it is also claimed that this figure has rose $29 trillion since 2016. Meaning for the first time ever there is 3 times more debt in the world than money.Once again this seems like a significant argument as to why Bitcoin and cryptocurrencies are the future of our financial systems. Time and time again governments have failed to run a successful monetary system and now we have money backed solely by debt. Bitcoin was the first ever monetary system to not be backed by debt in the modern day.
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