Eliminating Debt with Bad Debts
The national debt is making highs it hasn’t seen in a long time. In fact, higher than we have ever seen. The amount of people whom owe to financial institutions like JP Morgan and Citi is very high. The amount owed to the credit card companies and any other company keeps going higher.
This is because we live in a system where we charge interest and this comes from no where but the increase of debt. Because the central bankers all over the world monopolize the money system, it is impossible to pay this debt back. If we were on a gold and/or silver standard then we could at least mine our own metals to pay interest expenses and charging interest could work.
It does not work with fiat dollars and in this video I go through what seems to be accounting basics that would eliminate debt. However, for this to happen we would need to see all the creditors of the world be nice to eliminate debt. This in turn would lower than equity and profits significantly.
Thank you for watching
Derek
Duration : 0:9:35
25 Comments to Eliminating Debt with Bad Debts
Search
Guaranteed Cash
Articles
- Credit Cards (392)
- Debt (403)
- Get Cash Now (484)
- Loans (419)
- Money (246)
all this is planned …
all this is planned by the real leaders of the government (the NWO leaders) to destroy our currency and try to implement the AMERO or some other one world currency
In general, due …
In general, due diligence that is required pushes these write-offs back for yrs.Also, depending upon the product, the buyer may be required to report it as income.Bottom line, the consumer is squeezed
would be nice if …
would be nice if all debt could be written off and everyone would get a brand new start on life…. S W E E T
We can just remove …
We can just remove our money from their banks, seeing how highly leveraged they are should be enough to collapse them. If that leads to more bailouts, then … hmmm let’s stop paying debts yes
thanks for the vid. …
thanks for the vid. I like your explanations.
Great breakdown my …
Great breakdown my brother.
right.
I think dark …
right.
I think dark ages already will come after i read the article of Antal E. Fekete last year: “Red alert: gold backwardation!!!”
The way to get the …
The way to get the system to crash is for the masses to stop paying their bills at the same time. We need to stop giving our money away. There are more of us than there are of vastly wealthy bankers. We have the power.
Cool stats Derek ! …
Cool stats Derek ! ‘Cudos’
Bad debts are rolled in as expense.
Gee msamour… …
Gee msamour… You’re such a pessimist !
LOL
Short Precious …
Short Precious Metals. Why? Currency is evaporating at a dangerous clip, as banks pull back lending and/or go bust. Remember that banks were lending with 40:1 leverage at the height of the subprime/phony credit boom, a pull back to 20:1 leverage, still twice the historical maximum, has the same effect as half the world’s banks going bust. Without that explosion of spending cash, asset prices have one way to go—- down!!
Not to condone the …
Not to condone the action, but no one talks about what went on in the book/movie “Fight Club.” For those not familiar, please read the book/watch the movie. You will know WHY it’s been banned here in America without being censored. They don’t air it on tv anymore, at least where I am in Texas.
Their solution is to blow up all the buildings in the country that house the information (not a spoiler). Everyone’s debts go to zero. Clean start…
Look up Charge Off, …
Look up Charge Off, and set off. Interesting definitions. Peace
Derek, The only …
Derek, The only sure fire way to fix this, and I really hate to be the one advocating it, is to kill off all the central bankers, and the political elites that have created the debt-slave world. Period. There is no other way to “save” North America right now, or even years from now. And, you know darn well that after the U.S. collapses Canada will not be far behind. That is how the dark ages happened, the great civilization collapsed from the greed. It will happen again.
Whatz up D!!!!
Whatz up D!!!!
The only reason …
The only reason this is messed up is because they are booking as profit as soon as the credit has been established. The promise to pay is accepted for full value although the money has not been received.
They have no choice …
They have no choice for the REVENUE was $1.00, Cost of Goods Sold was 0.25, PROFIT 0.75
Then the bad debt means, REVENUE 0.00, Cost of Good Sold 0.25, PROFIT -0.25
So, they would go from making 75 cents to losing a quarter.
Think about this.. …
Think about this.. If you bought the apples at 25 cents and sold them at 1 dollar. Lets say a customer defaults on the 1 dollar as bad debt. In reality, the company only lost the 25 cents not the whole dollar. But they would write off the whole dollar as a loss.
No problem Dereck.. …
No problem Dereck…..Look what happened to all of the people took the advice of Bernie Madoff
FUCK u clarissa i …
u clarissa i know u read this haha
you can not always …
you can not always get what you want. They want it, but they aint getting it IMO.
I like the metals …
I like the metals Idea redue all our coinage, drop the paper money.
but it will never happen, they want a system where the can manipulate
everything to fall in their favor.
that is why in …
that is why in order to have interest, we must have not have monopoly on the supply. Gold and Silver are great examples because we can get more. It has to be interest for something we are able to produce. Because if we produce what they want for debt, then it would be fraud in printing or hacking. We have to pay them back only in $ now and thats the problem.
Most debt would have to be written off for it to work, yes! But that is many of months and big change(s) to happen.
All debt everywhere …
All debt everywhere would have to be written off for this to work. Then they could screw us again by offering new loans/credit (more debt)!
unfortunately for …
unfortunately for what will happen I agree that there will be more of this. However, the more you do this, the higher the overall debt becomes