Last time I read a specific article about world global debt about ten years ago, the writer basically described it by saying that if all global trade was stopped and no more debt was passed around and everyone, every corporation, every nation and every business was forced to just start repaying all their debts everywhere all at once at the minimum rate … it would take the world 10 million years to repay everything. The economy and finances have only inflated a lot more since then so by now, the same scenario would probably take 100 million years.
Regardless of the numbers and details … global finances are built on debt and the only way to pay it back is to access more debt in a perpetual cycle … somehow we all believe that this can last forever and that it can be sustained indefinitely.
It’s a world of smoke and mirrors where wealth, profit and money is all an imaginary figment of our collective imaginations … it’s all worth something if we all believe it is worth something. As soon as enough of us lose faith in it all, it all disappears and collapses and fails.
It’s a world religion in a way … it’s a system built on faith and belief … and as long as we all keep believing in it, it will all stay valuable and important.