Quote from: cellard on February 13, 2017, 01:03:36 AM

Quote from: w00t on February 09, 2017, 10:53:11 PM

Hi,
I was wondering, did anyone of you ever thought about that if there were only sound money in place such as (BTC, Gold,...) all consumer credit is gone (credit cards) that are now handed out like samples by drug dealers.

How many that you know would survive such wake up call? Not being able to finance themselves by debt but only with money on the table. I think at least half the medium and up sized businesses would go bust in 1 month, about individuals - really no idea...

Debt in itself is good, it allows business to grow. Being able take a loan, grow a business and pay back, that in itself is not bad... what's bad is when the money keeps getting created out of thin fucking air to pay back exiting debt which ends up in the inflationary spiral we are at, with the US having 20+ trillion in debt and growing forever.

BTC based debt where everything is tracked and nothing is cheated would be the solution.

and the Truth shall set you free!!