hi guys, long time follower of gold and silver but first time poster. I'm here from Melbourne Australia and have started purchasing physical gold & silver in the last 3 months. I have a question related to what governments plan on doing once a reset is put in play if and when economy's across the world crumble in domino effect. i remember hearing of a reset where reserve and/or central banks or governments would drop 3 zeros from total debt (not sure if this would happen as a last resort before a huge reset or after) however this interests me alot. The theory is that currently the top 10 debt countries have an accumulated amount of 70 trillion dollars in debt which makes up around 300% of world GDP and a total of 700 trillion debt in derivatives. from what I remember hearing about a potential debt reset was that three (3) zeros would be dropped to reset the debt amount to a more "manageable" 70 billion dollars debt or to 700 billion in derivative debt. eg current debt 70,000,000,000.00 to more managable 70,000,000.00. my question is if any one has heard of this, if there are any articles you could post or link me to and i'd like to hear your thoughts also. the reason this interests me highly is because if this were to happen, I'm assuming (from what I remember been told - can't remember the online source) that its related to all accounts. if a reset such as this took place then it would affect all money in circulation since all money IS debt. If you had $4,000.00 in bank savings then the reset (dropping the 3 zeros) would leave you with $4.00 of money in your digital bank accounts (haven't really heard much how this would affect paper fiat currency but in digital terms i can see this logically). the exciting part now would be if you own physical gold or silver then the dropping of 3 zeros would increase the value of the PM as you can't simply drop 3 zeros of value from precious metals. please. if anyone has heard or came across this information could you please link me or further elaborate. thanks
I think you are talking about a debt jubilee and Professor Steve Keen recommends this I believe. Some more info http://www.debtdeflation.com/blogs/manifesto/
