"Is Debt Jubilee our Only Way out of the Depression?" by The Atlantis Report 6-2-2020
The Atlantis Report:
Is Debt Jubilee Our Only Way Out of The Depression
Premiered 2 hours ago
Is a debt jubilee is the only way out of the depression?
So what is a debt jubilee also called debt forgiveness?.
A debt jubilee is a clearance of debt from public records across a wide sector of a nation. Such a jubilee was proposed as a solution to debt incurred or anticipated during the 2020 coronavirus recession.
A debt jubilee may not be as far-fetched as it sounds. As many Americans today have more debt than they ever hope to repay. There is no hope.
And the COVID shutdown has only made things worse. Our incomes have dropped, and we are using more debt to survive, which makes our existing debt problem even worse.
That's why a number of public figures are suggesting a radical and ancient solution. A debt Jubilee.
The problem today is that can-kicking yesterday's problems have reached its limit. Over the last several decades, governments across the world have added insurmountable debts. Debt-loads exceed 100% of GDP in many countries.
The "ever-worsening indebtedness, and ever-larger interest payments on these unpayable debts, the precise definition of Debt Slavery.
Throughout virtually the entire Western world, we are now well past this point-of-no-return.
As far as I can see, this is the deal: Mass Credit Cards defaults. Mass mortgage defaults. Mass auto loan defaults. Mass rental defaults.
So, one of two things can happen.:
1. They'll continue to brag about 'debt' and then DAMN the only way out of it, which is. Extreme taxes, Slavery, and the assured breakdown of society. Mass bankruptcies, mass evictions, mass unemployment. Debtors prisons, forced labor. Tent cities, a class of untouchables with an American twist.
The problem with that is that Americans are too well-armed, and the instant this or anything akin to it pops off, bankers, politicians, judges, and LEO will be assassinated left and right.
The societal upheaval would result at the end of America, possibly western civilization.
2. Complete debt jubilee. Everything is zeroed out. Everyone gets a little something to start out with. Similar rules as before; however, the only reason the powers that be could see in doing this is to stop the destruction of their system.
It would not only allow them to continue to play the game for another few hundred years but would allow everyone else to do something as well.
Literally, no one could complain about anything, everyone has been bailed out, and everyone has an opportunity.
For the full transcript go to https://financearmageddon.blogspot.com