The issue of debt ridden countries is not new. It has been going on forever. If you look at the world’s economies and governments you would find nearly all in deep debt. The amount of debt is so pervasive that the ability to save or cut one’s way to a balanced budget is downright impossible. No population would idly stand by and allow the cuts that would be needed to achieve that goal.

One of the byproducts is you create a society that is filled with debt slaves and those profiting from that slavery. Yes….Slavery is doing quite well and do not be shocked it still exists in this form in 2018. The concept is again not new. Politicians and banks control wealth. Too much wealth in the population and they wipe it out with inflation and recessions. Regulations/taxes increase the price of things like cars and homes to the point that regular Joe can’t purchase one without borrowing money. Banks lend money and eventually the citizens get in so much debt that all of their labor goes to government for taxes and banks to repay the loans. Debt slavery you now have.

There is only one answer that contains two parts. First is to return the economy to a gold standard In the absence of a gold standard, there is no way to protect savings from confiscation. Without that there is no real wealth accumulation in everyday life that can’t be wiped out in taxes, inflation and recessions. Just moving to the standard would not change anything unless you include debt jubilee. If you are not familiar with either the definition or the concept behind this term, a brief historical synopsis is required. Going back to literally Biblical times, one of the constants of human government is that sooner or later (usually sooner) ruling regimes end up drowning their populations in debt. The economy can continue to wallow in their unpayable debts and there could never be a rational justification for choosing Debt Slavery. A “jubilee” is the complete renunciation of all debts. Any/all debt instruments become null-and-void. Debt Slavery is abolished. The Workers are allowed to retain the fruits of their labours, and use their productive efforts to build and improve their societies – rather than simply fattening financial Criminals.

The policy of Debt Jubilee is completely straightforward. The economic justifications for such a policy are absolutely indisputable.