World Debt Reset Program
#BigReset - World #Debt Reset Program
Disclaimer
I just wanted to kick this Blog off by once again saying that the views in this Blog are my views and my views alone and should not constitute or to be taken as Investment or Financial Advice whatsoever.
World #Debt Reset Program
Regular followers of my work will now that for the past +8 years I have repeatedly expressed my ongoing concern regarding the unprecedented speed in which Global #Debt has increased over the last two decades and more so since the Crisis of 2008.
Since joining #Steem back in 2016 I have written countless Blogs on this very topic and would like to once again bring the subject up once more.
Global Economy
As the Global Economy continues to plunge into what can only be described as the darkest depths of a Systemic Crisis brought on by the flaws of a Financial System that has been patched up since the early 1970's something radical has to change.
Despite the obvious warning signs that have been ringing out around the World as early as 2016 the Global Financial System is on the brink of a catastrophic collapse of epic proportion, brought on by the sheer weight of Financial Derivatives, Financial Instruments, Debt and Stimulus.
Though some will believe that the Global Financial System and the Global Economy are strong because the Stock Markets around the World are up, they could not be further from the truth.
The Global Financial System and the Global Economy are NOT the Stock Markets for reasons I have repeatedly discussed in the past.
World #Debt Reset Program
With Global #Debt now growing at an unimaginable pace against a backdrop of a shrinking Economy this problem has to be addressed without delay and I strongly believe a World #Debt Reset Program is a likely scenario.
A Program that would be rolled out Internationally and on an unprecedented scale unlike anything witnessed over the last +300 years, it would be an understatement to say that such a Program would be massive.
Should a Program be implemented it would be colossal, eliminating all Public and Private Debts including, but not limited to: Mortgages, Credit Cards, Student Loans, Car Loans etc with #Debt rolling up to the World Bank.
In exchange for what is essentially a #Debt Forgiveness Program the Ownership of all Assets would be forfeited.
Blockchain, Distributed Ledger Technology, Artificial Intelligence and Cryptocurrencies
With the advent of #Blockchain and Distributed Ledger Technology combined with the roll out of Artificial Intelligence and Cryptocurrencies the World #Debt Reset Program would usher in a new era and one that would change people's lives on an unimaginable and unthinkable scale only ten years ago.
Challenging times
These last few years has seen a challenging time for the Global Financial System as the Systemic Failure on the System has been tested to it's limits on a number of occasions.
A Global Financial System that was rolled out in the 1970's is now no longer fit for purpose and with #Blockchain and Distributed Ledgers set to be used to measure Systemic Risk in the future now is a perfect time for a reset.
Dubbed the #BigReset I believe the clock is ticking now for when the above becomes a reality.
When?
I am often asked, when do I think this #BigReset could possibly happen and when will it take place?
The answer is always the same.
I think it has already started.!!
Thanks again for reading.
Stephen
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Stephen
https://twitter.com/StephenPKendal/status/1417465210399494145
I am excited to see you back to the blockchain and with such a great start.
Hello sir I always respect your work. It's really admirable that you're doing a lot to move Steem forward. I wish you all the best. I hope you work this way.
Welcome back sir, your concern for global economy is very logical and would love to work for #BigReset if possible. Thank you!
Regards
SHOHANA
Perseverance leads to achievements. Your concerns about the global economy are just. Suddenly we will see light at the exit of the tunnel. Congratulations.
Hello sir i am running this contest to promote steemit.
Promo-steem Contest || Make a video and talk about steemit || 30 Steem in prize pool || Week - 01
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This pandemic accelerated many things, especially the deterioration of the world economy, we have to be realistic about what will happen.
Welcome back dear mentor @stephenkendal so much discriminations ranging from racism, crisis, natural disasters, political instability, corruption and poor policy making has been the major set back of the World economy.
With the advent of #Blockchain and Distributed Ledger Technology combined with the roll out of Artificial Intelligence and Cryptocurrencies the World #Debt Reset Program would usher in a new era as you clearly stated.. Let me also add that we learn from our mistakes and make amend, I strongly believe it will be a new revolution and the world will be a better place.
So many of us here in Africa are suffering due to bad policy: recently even the twitter was ban in my dear country #Nigeria, the fact is many business are promoted via twitter due to this decision a lot of business have been closed down, subjecting millions of people into extreme poverty! While most people have little or no knowledge of blockchain/Artificial Intelligence.
Since the emergence of the pandemic, every sector of people's livelihood has taken a huge hit, and it isn't like things were great during the pre-COVID-19 era. So I believe this could be a blessing in disguise as it could be presenting us with a tiny window of opportunity to recreate or reset various fields to pave way for a fairer and promising future. It will arguably become a hard decision to come to since some institutions are experiencing immense economic growth while others are taking big punches straight in the face. It will be hard for some to give up the potential profits to be made. Likewise, it will cumbersome for others to forgive and forget huge debts that institutions and individuals owe them when they came to a payment agreement and are looking forward to those remunerations to invest or embark on new agendas.
Greetings @stephenkendal, it would be unprecedented if they could do a reset of the world economy, as the world would not support a change of that magnitude.
The world debt is like a credit or loans that are acquiring all countries of the world with the World Bank, in order to carry out new structures or mega projects and improvements in basic services of each nation.
Of course, these debts are acquired to improve many things in the countries, but in the end they are squandered by the leaders of some countries, as it happens in Venezuela.
Greetings.