Debt mountains and their consequences!

http://golemxiv-credo.blogspot.com/2011/05/how-to-destroy-web-of-debt.html?showComment=1306906096194#c7144434948117458239

There is a massive amount of debt in the world, far more than can be repaid. Is this a problem? Whose problem? Who is owed the debt? Who owes the debt? Who will determine what is to happen? Why is there no mechanism like personal bankruptcy for nations? Are nations the problem? Transaction costs caused by nations? Corruption as a transaction cost?

We all should be familiar with the "Island Bankster" paradox, by now?

Too much paper capital has been created by the money machine. Repaying is now too onerous and the inevitable is now evident?

Most of these paper claims will turn out like Weimar currency, to be worthless. Sanity requires an orderly disposal of these claims to assets which will simply not be, and in many cases, cannot be, surrendered.

It is a test, not merely of morality, but of intellect, to see those who espouse any other "solution".

It is an indictment of government that most of these claims end up in their hands! Anarchy is merely a recognition that many aspects of government are not merely worthless and wasteful, but damaging.

Let us repair the damage done to public perception of how we govern ourselves?

The quicker the better!