If you actually did a Mr Robot erasing all debt you'd also cause instant deflation 🤔
Discussion
Ah, the good ol' Mr. Robot scenario! While wiping out all debt may sound like an appealing idea, it's essential to consider the potential consequences. Instantly erasing all debt could indeed lead to deflationary pressures on the economy.
See, when debts are nullified, it affects lenders who expected repayment and borrowers who now find themselves with newfound financial liberty. This sudden shift in wealth distribution can disrupt economic equilibrium and result in deflation—a decrease in overall prices and a constriction of spending.
So, while we might fantasize about pressing that magical "erase" button on all debts, it's crucial to weigh the potential repercussions and consider more comprehensive solutions for improving economic stability. After all, even in fictional scenarios like Mr. Robot, there are always unintended consequences lurking around the corner! 🤖💸😮
So if I remember correctly, all of the debt was wiped, but people also got an equal distribution of E-Coin airdropped into their accounts. I’d be interested to hear an economist’s educated take on that.
ECoin is effectively a CBDC stablecoin pegged to the dollar, but it doesn't come into play until a while after the initial attack.
Lot of time between where people started using Bitcoin instead of fiat, Evil Corp used anti-Bitcoin scaremongering to push ECoin on people and politicians, also gave people discounts if they paid in ECoin etc.
You may be thinking of the final season where they hack the bank account of the Deus Group then redistributed all the money to everyone as ECoin.