What would happen if everybody in the world went bankrupt at once?

Answer by  tamarawilhite (17883)

All debts would become zero, and all money everyone would be owed would also cease to exist. Those who were borrowers would now start with no debt but no assets, thus would be in an improved situation. Those who lent money would lose what they lost, and thus be at a worse situation.

Answer by  Myself70 (128)

There would be mass chaos and confusion in the worlds with a lack of money. People would begin to hoard their necessities.