How Can Every Government Be Bankrupt?

Almost every government has a crushing "national debt". Does that make any sense? If every government is bankrupt, then who's the creditor?

Most government bonds are owned by banks. The banksters borrow from the central bank and buy higher-yielding government bonds. This is a guaranteed riskless profits. Government bonds are treated as sacred, so there's no default risk.

As an individual, you're an idiot to buy government bonds, because the return is less than inflation. You're making an unleveraged investment. The banksters eagerly buy government bonds, because they borrow from the central bank at the overnight rate, and buy longer-term government bonds.

In the USA, government debt is in dollars and the US government issues dollars. The US government can always print more and more Treasury bonds to refinance its debt.

Euro countries don't get this perk. No single EU country controls the Euro. EU governments have debts in a currency they don't control.

In a paper money system, there's no limit to inflation, except for the possibility of hyperinflation.

Currently, Greece and some other EU countries have a problem. Their "national debt" is embarrassingly large. Suppose that everyone decided to look the other way, letting these countries rack up more and more debt. In a paper monetary system, you can inflate indefinitely.

When Greece or other EU countries have debt, that is inflationary. With excessive deficit spending, Greece is causing inflation throughout the EU. In effect, people in Germany suffer higher inflation, so that Greece can run deficits.

There is no limit to the amount of "national debt" a country can have. It's just a number on a piece of paper. However, if Greece has more deficit spending than other EU countries, then they are stealing from the rest of the EU via inflation.

Most Greek debt is owned by "too big to fail" banks. If Greece is bailed out, that money goes right to the banksters.

Why not default? Why should banks have zero risk? If banks always get bailed out, then they should take stupid risks and lend money to people who don't deserve it.

When the banksters gamble and are correct, they get to keep the profits. When the banksters gamble and are wrong, they get a bailout. Then, the banksters say "We deserve our huge salaries. We're brilliant businessmen in a free market." That isn't a free market. It's corruption capitalism.

Due to the Compound Interest Paradox, ever-increasing inflation is needed to keep the scam running. In a severe recession/depression, only governments can have unlimited deficit spending. Deficit spending is "needed" to cause inflation to keep the scam running. This leads to the current ridiculous situation, where almost every government has a crushing "national debt".

It is ridiculous, that almost every government has a high "national debt". That's a consequence of a corrupt monetary system. The "national debt" isn't a valid debt. That money was wasted on pork projects. That debt is owned by the banksters. The banksters make a guaranteed riskless profit when speculating in government bonds.

The banksters borrow from the central bank and buy higher-yielding government bonds, making a practically guaranteed riskless profit. The "national debt" should not be treated as a valid debt.