Would You Support a Debt Jubilee?

Money Buffalo

POSTED BY: JOSH OCTOBER 7, 2017

What Does a Debt Jubilee Look Like Today?

Our financial system is much different than ancient Isreal and we need a different approach as the “average Joe” can invest in P2P loans and we live in an easy credit society. The middle class didn’t exist in their society as we know it today.

If Wall Street begins forgiving debts, it’d be safe to assume there would be a strong negative impact on the market in the short term and long term. Investors are going to sell because they fear the companies migth go bankrupt. Uncertainty is one thing markets don’t like.

And if a government-mandated debt jubilee gets enforced, how do they decide who has their debts forgiven?:

Borrowers with a high debt-to-income ratio

Residents of particular states or territories

Taxpayers who live below the poverty line

Specific types of debt (i.e. Puerto Rican government debt, auto loans, student loans, etc.)

It could be all four of these groups, a combination, or only one.

Those are all decisions that the policy wonks, politicians, and lobbyists would have to make. While there would be some short term stock market volatility, I believe the markets would rebound.

Of course, the debt forgiveness would rapidly expand the government debt.

Different Debt Jubilee Options

We don’t know how a debt jubilee will look like because we’re not there yet. There are too many variables.

However, we do have an idea of what arrows are in the central banks’ quivers:

Call a bank holiday and take 25% of 401k assets

Print more money…a la quantitative easing

Mandatory debt forgiveness (unpaid loans and bonds are written off with no further payment required)

Once again, the powers that be can decide to pursue one, two, or all three of these options. Obviously, savers and the wealthy would be punished the most as their bank account are smaller, worth less if the currency devalues, or the stock market tumbles because investors lose confidence because they don’t know if more assets will be seized or lending companies can remain solvent now that they are receiving far fewer interest payments.

There will be lots of short term financial volatility in the investment markets and even the employment sector as business models change and private citizens adjust to new amount of disposable income.

Good 'ol Wikipedia (I'm a resurcher🤷‍♂️).

Debt bondage, also known as debt slavery or bonded labour, is the pledge of a person's services as security for the repayment for a debt or other obligation, where the terms of the repayment are not clearly or reasonably stated, and the person who is holding the debt and thus has some control over the laborer, does not intend to ever admit that the debt has been repaid.[1] The services required to repay the debt may be undefined, and the services' duration may be undefined, thus allowing the person supposedly owed the debt to demand services indefinitely.[2] Debt bondage can be passed on from generation to generation.[2]

Currently, debt bondage is the most common method of enslavement with an estimated 8.1 million people bonded to labour illegally as cited by the International Labour Organization in 2005.[3] Debt bondage has been described by the United Nations as a form of "modern day slavery" and the Supplementary Convention on the Abolition of Slavery seeks to abolish the practice.[2][4][5]

The practice is still prevalent primarily in South Asia and Sub-Saharan Africa, although most countries in these regions are parties to the Supplementary Convention on the Abolition of Slavery. It is predicted that 84 to 88% of the bonded labourers in the world are in South Asia.[4][6] Lack of prosecution or insufficient punishment of this crime are the leading causes of the practice as it exists at this scale today.[6][7]

Wireless, EM mind control. Memory seeding/cleaning… whatevs. Hope they had fun. So stoopid, callous, seedy, evil. No disclosure. No consent. Just trainwrecks. For what?

>>7344866

I wish someone could grab those Wiggle look alikes by the scruff of the neck, smack their nerdy asses, and make 'em do the dishes. I want nothing to do with them.

War Castle's and Birth Certificates. What would you like to know?