Eliminating Debt with Bad Debts

[themredweirdoshow]

@BiWinningAssKicker While you pop profanity, all you do is prove my point. We're not on any silver or gold standard, and until said debt is paid off, which will take decades, we won't be on any such metal standard anytime soon. Thus people saying "gold and silver went up again" is pointless. Since paper money is more worthless every day, and metal is only "worth" something if it's sold for "money" - paper money - then you're just running in circles. You like history? Start with the Fed in 1913!

[riverlioness]

The real world and politics are different. The United States government corruption rate of 50%.

Great idea, but, at least half the government would disagree. You would probably love the economic theories of Ludwig Von Mises and F.A. Hayek. I try to do my part by voting libertarian, but I'm in the minority of Americans that know the government is supposed to be accountable to the people.

It's horrible but the US government wants to spend and print monopoly money.

[abridgewater101]

Stunning video :) Wow it gives learning so much thanks :) Please watch my videos to learn same stuff :)

[dooric]

People, you are too greedy. You want stuff now and you you buy it now by putting everything on your credit card. As result you become slaves of financial institutions. They just milk you. Bottom line - you are slaves of your habits. Nobody to blame except yourselves!! Do not expct bad debts to be written off. You have to pay for your reckless actions.

[themredweirdoshow]

Metal currency is every bit as worthless as paper money. Both are only marginally of value as "markers" (metals) and "notes"(paper) that function as IOUs, mainly for food, and to a lesser extent other goods and services.

Bottom line is that you can't eat metal anymore than you can eat paper. You can only eat FOOD.

[endlessmountain]

@themredweirdoshow you live your life without clothes, a car, a house? You must because from the sounds of it the only ASSET you like is FOOD.

Considering you would not soap or shower that would be scary. I am only kidding on this, but I am not kidding that humans do MORE THAN EAT!

[60058366]

awsome

[dave997]

all this is planned by the real leaders of the government (the NWO leaders) to destroy our currency and try to implement the AMERO or some other one world currency

[PontVedra]

In general, due diligence that is required pushes these write-offs back for yrs.Also, depending upon the product, the buyer may be required to report it as income.Bottom line, the consumer is squeezed

[plumflowerblossom]

would be nice if all debt could be written off and everyone would get a brand new start on life.... S W E E T

[boosuff]

thanks for the vid. I like your explanations.

[odin422]

Great breakdown my brother.

[FarahWonderland7]

The way to get the system to crash is for the masses to stop paying their bills at the same time. We need to stop giving our money away. There are more of us than there are of vastly wealthy bankers. We have the power.

[ExquisiteDoom]

We can just remove our money from their banks, seeing how highly leveraged they are should be enough to collapse them. If that leads to more bailouts, then ... hmmm let's stop paying debts yes :D

[BLynchCAN]

Cool stats Derek ! 'Cudos'

Bad debts are rolled in as expense.

[huskie767]

Short Precious Metals. Why? Currency is evaporating at a dangerous clip, as banks pull back lending and/or go bust. Remember that banks were lending with 40:1 leverage at the height of the subprime/phony credit boom, a pull back to 20:1 leverage, still twice the historical maximum, has the same effect as half the world's banks going bust. Without that explosion of spending cash, asset prices have one way to go---- down!!

[cowboycarl04]

Not to condone the action, but no one talks about what went on in the book/movie "Fight Club." For those not familiar, please read the book/watch the movie. You will know WHY it's been banned here in America without being censored. They don't air it on tv anymore, at least where I am in Texas.

Their solution is to blow up all the buildings in the country that house the information (not a spoiler). Everyone's debts go to zero. Clean start...

[hiphopsocnroc]

Look up Charge Off, and set off. Interesting definitions. Peace

[msamour]

Derek, The only sure fire way to fix this, and I really hate to be the one advocating it, is to kill off all the central bankers, and the political elites that have created the debt-slave world. Period. There is no other way to "save" North America right now, or even years from now. And, you know darn well that after the U.S. collapses Canada will not be far behind. That is how the dark ages happened, the great civilization collapsed from the greed. It will happen again.

[GoatHollow]

Gee msamour... You're such a pessimist !

LOL

[dontblamethemessenge]

right.

I think dark ages already will come after i read the article of Antal E. Fekete last year: "Red alert: gold backwardation!!!"

[Shocksink]

Whatz up D!!!!

[NotACrookProductions]

Think about this.. If you bought the apples at 25 cents and sold them at 1 dollar. Lets say a customer defaults on the 1 dollar as bad debt. In reality, the company only lost the 25 cents not the whole dollar. But they would write off the whole dollar as a loss.

[endlessmountain]

They have no choice for the REVENUE was $1.00, Cost of Goods Sold was 0.25, PROFIT 0.75

Then the bad debt means, REVENUE 0.00, Cost of Good Sold 0.25, PROFIT -0.25

So, they would go from making 75 cents to losing a quarter.

[NotACrookProductions]

The only reason this is messed up is because they are booking as profit as soon as the credit has been established. The promise to pay is accepted for full value although the money has not been received.

[goscott4]

No problem Dereck.....Look what happened to all of the people took the advice of Bernie Madoff :)

[Mongodelight]

FUCK u clarissa i know u read this haha

[AR15Truther]

I like the metals Idea redue all our coinage, drop the paper money.

but it will never happen, they want a system where the can manipulate

everything to fall in their favor.

[endlessmountain]

you can not always get what you want. They want it, but they aint getting it IMO.

[sizzlot]

All debt everywhere would have to be written off for this to work. Then they could screw us again by offering new loans/credit (more debt)!

[endlessmountain]

that is why in order to have interest, we must have not have monopoly on the supply. Gold and Silver are great examples because we can get more. It has to be interest for something we are able to produce. Because if we produce what they want for debt, then it would be fraud in printing or hacking. We have to pay them back only in $ now and thats the problem.

Most debt would have to be written off for it to work, yes! But that is many of months and big change(s) to happen.

[ruleof3]

They will default on their debt via monetization. Its a shady way to pay your debt off but its far too easy, all that is required is credit expansion with more cheap money. Helicopter Ben wont take his hand off the printing press.

[endlessmountain]

unfortunately for what will happen I agree that there will be more of this. However, the more you do this, the higher the overall debt becomes