What would happen if....

This fractional-reserve fiat currency usury interest banking system is going to fall apart one day. The results will be very, very ugly. Depression or hyperinflation.

What if some person or organization had the power to enforce this statement before it happened:

"All debts to be repaid are hereby limited to payments on principal only. Interest owed is hereby absolved."


Speculation of the effects of this, assuming it happened? What ripples would it send through the economy? Who would benefit? Who would be against it? How would it affect us overall?

[edit on 25-11-2007 by dionysius9]