When you say world dept. Does that include my dept
That's anybody's guess.
There has been
talk, the past few years, of a 'debt jubilee' possibly occurring when the fiat money system collapses and the global money system is restructured, but whether it will include
individuals' debts isn't clear.
In case you're unfamiliar with the term, 'fiat' money is the current system of private banking consortiums printing dollar bills, pound notes etc. out of thin air, and then charging countries and their populations for the 'privilege' of using it. It's outrageous and it enslaves us all.
Before fractional-reserve banking, people would take their valuables to a bank, for safe-keeping, and the bankers could only lend to borrowers physical assets (e.g. pieces of gold, silver, etc.) as a proportion of what the bank held in physical assets (including other people's deposits). Then, as bankers grew more greedy, they lobbied for banking regulations to change, so that they could issue 'promisory notes', instead of physical assets. The promisory notes had no
physical value, but they were a form of guarantee or certificate that they were
redeemable for physically-valuable real assets to the equivalent value of the promised amount.
When this was eventually allowed, the banking system had to be trusted (and audited) to ensure that they were only issuing promisory notes to all their borrowers that amounted to a combined total value
not exceeding the value of the physical assets they held in their safe.
Then, (surprise, surprise) the greedy bankers still weren't satisfied. They decided to lobby for regulations to be changed again, so that they could issue promisory notes to a combined total value
exceeding the value of physical assets they held in their safe. Of course, this was the real purpose of lobbying for promisory notes, all along. This system could only work on the basis of the public having sufficient trust in the banking system so that they wouldn't all make a run on the bank, to all withdraw the physical assets they had deposited in the bank safe, because, obviously, there wouldn't be enough physical assets to repay all of them to the value of the excessive promisory notes that the bank had issued. So, why would a bank want to issue promisory notes for greater value than the assets it holds in its safe? Because everytime the bank lends to a borrower (lending paper notes rather than physical assets), it charges interest. The more it can lend, the more interest it can grab from borrowers. This is what the term 'fractional-reserve banking' refers to, and it is corrupt to the core.
The situation got worse still, when the rampant greed of the bankers incrementally lobbied and lobbied and lobbied, until they were issuing promisory notes to a combined total value MASSIVELY exceeding any physical assets they had in their deposits. Essentially, they were printing promisory notes (AKA 'money') out of thin air, with nothing of real physical value to back the promised amount. That's where we are, in early 2020.
The futures market (and other derivatives-based trading) has compounded the problem even further, as it's an enormous bubble based on binary 1s and zeros, that has no basis in physical assets of true material value.
This is why these banking families have become unfathomably wealthy, and unfathomably powerful, and why it has been so hard (and dangerous) to try to turn back the clock and return to the 'Gold Standard'. Anyone who tries to do so is brutally stopped in their tracks (stopped from breathing...).
But the gravy train can't last forever, no matter how powerful these bankers are. It's mathematically impossible for the bubble to continue indefinitely.
What I've outlined above is only a simple overview - it gets a lot more complex and multi-faceted.
Strange as it may seem, the current health situation in the news may be more intertwined with global restructuring of the financial system than many people yet realise.
lay on with fresh gear or two passes with same gear?
- was genuinely just trying to explain something relevant to all of our lives. Even if it's boring to read about, it does affect us all 
