It didn't go any where.<br />
Money that didn't exist was promised (lent)<br />
so people could use it (debt)<br />
but they spent more than they could earn,<br />
so couldn't pay back the debt,<br />
so borrowed more money to pay the interest on the debt,<br />
and so many people, companies and governments <br />
collectively continued this make believe <br />
that one day some body thought to check the books,<br />
and realised every body is is very big trouble.<br />
The delusion of growing an economy through debt<br />
is much like the story of the Emporer's New Clothes.

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BA and yes i saw the movie it explains pretty much!

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Debt IS money. So is credit. That's why the system is so screwed.

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It is but in minus

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I know, but debt that can't be paid gives credit to the person/entity who is owed the money even if the money doesn't actually exist. This includes interest. By eliminating the gold standard, the US effectively created bubble money. It has already burst. The nations in the world aren't actually in all that much debt. Just the countries who are members of the G5.

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Secret government projects!!! An end if the world bunker for all the rich people and people with power.<br />
Haha I just assume.

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Cheese and potato chips

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Ssssssniff!

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You don't have to look far. The undeservedly wealthy are everywhere. They are shareholders and CEOs with bonuses that used to be given for productivity, but now are given for selling out their workers and their countries. Everything i'm saying is correct - just don't have space to elucidate.

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A lot of it is spent to prop up thier economies, countries like Greece and to a lesser extent Spain didnt have high credit ratings which meant they had to pursue fiscally responsible policies, that all changed when they joined the EU, suddenly these countries had unlimited access to money and over extended themselves, Much of the debt is personal debt, people living on credit and having no savings, these things affect a countries credit ratings, Greece has (or had, debt levels at 145% of gdp, meaning thier debt level was 45% more than they made in a year, fiscally responsible countries are around 80% of gdp

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Yes, the US People havent been well served by thier elected officials, the US government is spending trillions being the worlds policemen, maybe they need to police thier economy instead

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