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The Only 5 Countries In the World Living Debt Free

Rich Countries
The Only 5 Countries In the World Living Debt Free

$53,008,208,452,765 That number almost looks like something of fantasy, make believe, possibly the answer to a very complex mathematical equation. If you’re staring at a mortgage or loan of some sort, don’t feel too bad. Globally, we somehow accumulated a debt just surpassing 53 trillion, that’s a lot of houses. This brings the term “mountain of debt” to a whole new level of astronomical figures. Its like climbing mount Everest and realizing that as the clouds part, it’s just a baby compared to the mountain five times higher behind it. As you stare with amazement, something that took a lifetime to accomplish is nothing in comparison to what’s next.  Latest calculations indicate there is about $1.27 trillion floating around in the US, worldwide there is said to be close to $10.5 trillion. With 97% of all currency which doesn’t even seem to really exist due to that it’s all electronic. You get to see a number under an account from a bank that’s all digital, you’ll never physically get to hold or really see this “money” your account number displays to you.

In the madness of this much debt, how do you even begin to tackle such a giant. This is certainly a much bigger giant then David was up against. There is said to be between 189 and 196 independent countries worldwide. According to the United Nations right now there are currently 192 active members.

Most countries’ money is governed by the World Bank Group. The World Bank was formed in July 1944 to provide loans to developing countries for capital programs. This group is owned by the governments of member countries, they have the power to make financial and policy decisions as well as any issues members may have. To become a member of the World Bank Group, a country must join the International Monetary Fund (IMF). The corporate secretariat vice president coordinates new membership and any information relating to the status of membership.

The six countries not a part of the World Bank Group are as follows: Cuba, North Korea, Andorra, Liechtenstein, Monaco and Nauru. Taiwan has the largest economy outside the World Bank. The two observer states, Vatican City as well as the State of Palestine, are also non members of this group.

Both Canada and the United States of America, joined the group shortly after the very destructive World War 2, on December 27, 1945.  The US alone accumulates for almost 33% of the worlds debt with a staggering $17.3 trillion, topping the list at number one. Canada comes in at number 15 with an overall debt of 1.3 trillion.

Considering the current situation with such wild and ridiculous debt throughout the whole world, is our current form of currency even going to be relevant in the future? We might have to go back to things like gold standards or make trades for goods and services. With the rise of Bitcoin and other Krypto currencies, we may be seeing the answer or at least part of the solution.

So who’s been able to avoid this economic insanity of debt?

There are exactly five answers to that very question. Despite a trend among every other country that exists. These five have been able to stay in the positive, in the green, above the bar if you will…

5. Macao

Macau

It’s said to be like Las Vegas, except on cocaine and steroids. It’s five times as big as Vegas, 10 times more hotel rooms, located in China, formerly known as Macau. It is the worlds’ fastest growing economy according to the Economist Intelligence Unit (EIU).  Macau made $45 billion in revenue in 2013, up by 19% from the prior year. Its the only place within China that allows gambling. This vibrant place, has a lively population of 556,783. It has the worlds highest population density with 20,643.75 people per square kilometer.

The Venetian Macao, which is owned by the Las Vegas Sands, is the largest casino in the world, also the largest single structure hotel building in Asia, coming in at number six worldwide.

Macau’s two official languages are Portuguese and Cantonese. Its been ruled by the Portuguese since 1887. It has its own dialect of Portuguese called “Macanese Portuguese” and distinctive creole known as “Patua.” 50% of the humble residents in Macau are Buddhists. If you’re expecting to live a long life, this might be the country for you, it has the second highest life expectancy in the world at 84.43 years. This is truly the city that never sleeps. With its high revenues, it remains one of only a handful of countries that stays debt free. She’ll treat you worse then Vegas did, baby.

4. British Virgin Islands

British virgin islands

The British Virgin Islands, or as some would prefer you to drop the Britsh and just stick with calling them “Virgin Islands.” It’s a non-sovereign, overseas territory of the United Kingdom, and is internally self governing. It has an estimated population of only 27,800. This beautiful piece of land is found surrounded by the North Atlantic bright ocean blue. This land mass has 60 smaller Islands that make up the country. Each island are 5 to 10 nautical miles away from one another. It’s gusty wind season is from November until June, December/January is when the better of the winds sweep in, famously known as the X Mas wind. Be aware though; hurricane season is from June till October. It is one of the most prosperous nations in the Caribbean. If you’re looking to enter this country, no visa is required.

3. Brunei

Brunei

With its astonishing  array of glowing colors and music of all genres, Brunei only became an official independent country on January 1, 1984. It’s close to the vital sea lanes through south China Sea linking Pacific and Indian Oceans, neighboring Malaysia. With a population of 408,786 it is remarkably debt free. You might find the majority of these citizens employed in the oilfield, as its gas production accounts for 90% of its GDP, it makes 167,000 barrels of oil a day. With the price of oil in the US today at around $101 you can do the math to figure their possible profit margins. Only 2% of Brunei’s land is capable of agriculture. If you’re an individual who swings the other way, and gets caught with the same sex, prepared to be imprisoned for up to 10 years, and if that didn’t sting enough, you could also be fined up to $30,000.

2. Liechtenstein

Liechtenstein, borders Switzerland and Austria, with a population of only 35,000. This smaller nation covers an area of 62 square miles, it is the sixth smallest independent country in the world. It’s Situated in Central Europe in the Upper Rhine valley. Alemannic Germans make up the majority of the population. Smaller communities of Italians and Turks also help populate the country. This smaller nation is filled with exotic looking, huge mountain side castles of all sorts. Liechtenstein’s strong economy is why it has the second lowest unemployment rate in the world, with the stunning average of just 1.5%, in comparison to 7.3% in the US,  or Canada’s 7%. It has the second highest gross domestic product per person, coming in at 3.4 billion or $95,249 per person. Beautiful forests, mountains and old castles attracts many tourists, every year.

1.Palau 
Palau3

Radiantly glowing, with its forest covered hills, bright blue ocean as far in any direction as the eye can see. No this isn’t a mirage, your eyes are not playing tricks, this nation of zero debt is known as Palau. Consisting of six island groups, totaling more then 300 islands; it’s said to be some of the best snorkeling one can find, that this dazzling earth can offer. Also spelled Belau or Pelew, it is a Island located in the western Pacific ocean. Citizen nationality is 70% Pulaun (Micronesian with Malayan and Melanesian admixtures) 15% Filipino, 5% Chinese, close to 2% white and 8% other Asian nationalities. With the low population of 21,000 people, this veritable paradise will not disappoint.

 

 

 

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