Global Debt Crisis: Can a Collective Currency Devaluation Do the Trick?

"Printing" is a dirty word/thing - everyone does it but won't admit it ...



I want to look at this from a different angle: More like major economic powers issuing new currencies within a larger effort of fixing the global financial/­economic system - and in the meantime paying off the debt through differenti­al value - the reality is:



* Most states are technicall­y bankrupt already

* Many states are already printing cash in large quantities - hence the inflation



If we keep going this way - it is not long till world economy will collapse - not just because of the debt - but because of the lack of global checks and balances ... we talk and act as if there is a global market on the transactio­n side - yet - deny it on the regulatory side which is still only largely done on the domestic levels - not enough ... it is a matter of time before the balance is tipped off ...



So, now we need a new Global Economic and Financial System, a New "Bretton Woods" of sorts - and in the meantime we can get rid of the monumental debts and put new rules ...



Let us think of some :)



I like presenting this as a "mutual debt forgivenes­s" as "Richard Pearce Banned" put it in one of the comments - but it is also about restoring some balance ...
Read the Article at HuffingtonPost