315 Trillion USD
The debt of all countries, companies and individuals of this world counted together is at an all time high. Currently the global debt is at 315 million dollars. That is a growth of 21 % since the Covid-19 pandemic broke out. Or even a 100 % rise in just 8 years. The numbers are very hard to grasp, because what does this exactly mean?
We can also describe it in a percentage of global Gross Domestic Product. Then we have dropped since the pandemic, from 360 % to 333 % at this moment. And the last 8 years, it rose only from 320 to 333 %.
Debt based system
The absolute numbers have risen a 100 % in just 8 years, and that is only normal in our economic system. Everything is based on debt in our current system. Without debt creation there is no money creation. Something we have to understand thoroughly, debt is necessary to feed the inflation in our fiat economy. And together with the debt also the GDP grows.
The creation of cryptocurrencies is a countermeasure against this debt based inflationary system. In an ideal world cryptocurrency slowly takes over and makes fiat obsolete…
Only time will tell…
Sincerely,
Pele23