So what is the debt "crises" end game?

[dozu888]

So how do I teach the kids about how society works?

Children, there a bunch of super nerds who basically run the economy. Your options for financial success are to be the nerd, or understand how the nerd works and what motivates him.

every kid is different.

at 19 my daughter is already matching if not overtaking me on the understanding of many economic and political issues. Debate kids tend to all end up in law school. She understands money but is a natural spender. Which is ok. I told her just be aware and responsible and she will be ok. Nobody can take away a smart brain.

son is a natural saver. He is having a great time doing what he loves for a living. No problem there.

i think generally speaking each kid is really not ‘trying to beat the system’. S/he just needs to beat his or her peers. As long as they are allowed to find their own talent and we parents have the confidence in them and don’t stand in their way they will be just fine.

you don’t need to worry about how to educate the kids. Your actions are already doing it.

 

[murray t turtle]

What if the central banks have actually solved the "Debt problem"...………………………………………….
Step 4. Sell debt to FEd after threatening global economy
Step 5. Profit.

That may work for a while;
but even the Fed head[mr J poWell] warned about THE US UNSUTSINABLE DEBT. TEA party helps, they threw HI tax TEA in BOSTOn harbor,+ kicked off English HI taxers in 1776, dressed like Indians of course LOL-=LOL. Too much debt eventually solves the problem 'cause lenders will only put UP with so much NONSENSE=even if it us gov...………………………………………………………………………………………………………. Silver + gold ,+tech stocks+ stock market , mostly private sector, may come out fine, FEDERAL goV bondholders may not want to hold bonds long term LOL-=LOL. Local conservatiVe goV may do fine[Even TN/TWRA state gov had an upside surprise, on ammo sales ,so can NOT really predic thaT!!!!!!!!!!!!!]

 

[ironchef]

Then we'll all be more than happy to take all that worthless "fiat" off your hands!

Anything you can't barter to someone else immediately for something you want is "worthless" Fortunately we realized that barter economies are severely limiting, so we assigned an arbitrary value to an arbitrary mineral. Then we determined that also had some pretty severe limitations so moved to assigning an arbitrary value to an arbitrary currency which has resulted in you and I and a big chunk of the world's population living in far better conditions and with far more wealth than the top 1% of the past did.

So, let's move on to the next fiat: bitcoin?

 

[ironchef]

Fiat is worthless...

Fiat owns Chrysler.

 

[Sig]

Fiat owns Chrysler.

So for once @nooby_mcnoob was right

 

[newwurldmn]

Funny enough your tenant has been true for most of history (holding cash is a dumb thing to do) but now there are a few negative interest rate spots (due in part to central bank stupidity) where holding actual cash might be a better idea than "investing" it at least in a bank account.

I think the issue is that it is actually impractical to hold large amounts of cash. Pablo Escobar wrote off billions a year to the rats.

https://www.businessinsider.com/pablo-escobar-and-rubber-bands-2015-9

 

[Illini Trader]

So, let's move on to the next fiat: bitcoin?

Yes: This whole thread is making the case for holding Bitcoin. If every millionaire in the world wanted to own just one Bitcoin it would be impossible as there are enough BTC to supply them. This is not a popular thought on ET and I don't want to revisit all the Pros and Cons that have been totally exhausted in other threads. But, if all this bad stuff really happens with some sort of financial systemic crisis, what you think will happen to the price of Bitcoin?