Good debt is the kind you incur to purchase something that provides you with benefits, preventing you from spending more by not owning it yourself.
Bad debt increases your long-term expenses and makes it difficult to obtain good debt, as your costs exceed your income.
The debt-based system generates more detrimental debt than beneficial, as it is stated that the majority of the population holds merely 1% of the world's wealth, whereas just 1% of individuals possess the entirety of it.
As the global reset advances, experts remain uncertain about how humanity will adapt, but the conversation is missing the needs-based alternative that enables humanity to overcome past challenges and flourish.
Here is an opportunity worth thinking about.
Humanity offers to buy the Worlds entire Government Debt.
This means every government balance sheet would have no debt. Would governments want that? Yes. Their bad debt would be gone.
But what about Humanity? What Deal do we want to get out of it?
We get a Needs-Based Currency. We get a Common Currency.
Karmic credits, a currency based on needs, operates without debt as it is a regenerative system where money is created and extinguished, (born and dies) supporting humanity's aim to end poverty through a form of free basic necessities.
In the future, the majority of society will not require debt, but those who wish to take risks can opt to follow debt-based regulations at their discretion.
No debt and the relief of debt for the people and government should be a no brainer.
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