Eliminating Debt with Bad Debts

The national debt is making highs it hasn't seen in a long time. In fact, higher than we have ever seen. The amount of people whom owe to financial institutions like JP Morgan and Citi is very high. The amount owed to the credit card companies and any other company keeps going higher.

This is because we live in a system where we charge interest and this comes from no where but the increase of debt. Because the central bankers all over the world monopolize the money system, it is impossible to pay this debt back. If we were on a gold and/or silver standard then we could at least mine our own metals to pay interest expenses and charging interest could work.

It does not work with fiat dollars and in this video I go through what seems to be accounting basics that would eliminate debt. However, for this to happen we would need to see all the creditors of the world be nice to eliminate debt. This in turn would lower than equity and profits significantly.

Thank you for watching
Derek

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[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!

[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.

[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.

[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.

[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.

[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.

[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