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Indeed. Not the worst outcome. There are three options: 1) governments paying massive money to the lenders for many, many generations, unable to support society and possibly going bankrupt 2) anarchy 3) a new system Im well aware.

Or not. Just throw the debt in the bin. It would be the best thing for everyone who does not own a bank or equivalent. Its not some kind of law of nature that you cant regulate the banking system.

People frequently tell me that banks dont have a lot of power, meaning there should be no way this ridiculous idea comes true. However, that flawed part of my brain that you are aware of tells me a different story. Bank: "Hi, we want you to tax your people for no apparent good reason"...