Oligarchy will never cancel the debt we owe

Afternoon,

"World’s Best Economist Explains All In 8 1/2 Minutes"

Why are we in such debt?
How can this (unlawful) debt be discharged?
History has shown us this is traditionally called a Debt Jubilee and it has corrected the problems inherent with currency and corruption in our financial system but no such relief will be coming for this generation. Why wouldn't this option, which has worked for mankind throughout his history, be used to fix the dying system.
Micheal Hudson is one of the best economists in the modern world.
Perhaps you will find some of his answers enlightening:



(Best Line from the Clip: "Everytime history repeats itself, the price goes up.")

This is the original documentary from which the clip was taken:



-Peace-

reply to post by Eryiedes


Great video OP!!!

Disturbing, but very eye opening!

Thanks for sharing!

S&F

CANCEL the debt.. lmfao..

the greedy SOB's that rule would NEVER, EVER cancel the debts.

This is HOW they RULE.. why would they VOLUNTARILY give up their advantage?

in what game? where? has the person winning stopped, and said "I think I will just slow down and let someone else win for awhile.."

Especially when winning = Lifestyles of the Rich and Famous

and not winning = Tijuana shanty town shack shared by 9 people.

And, the only debt they WOULD cancel would be the ones where they don't lose control, thereby ensuring that they can take it ALL back whenever they see fit.

Given that roughly 3/4 of the U.S. National Debt is held by or depending upon by average citizens, I hope to God they don't ever talk about just writing off the debt. That will destroy, overnight, the retirements and savings of millions of people that spent a life time building whatever little bit they have.

I'm not sure where writing down debt at the level of many trillions comes from, but the only time I've seen that happen in history is following a war, which the forgiven nation almost always lost in total terms.

they should have ,, had they followed, the Ancient practice of Jubulee.

Wrabbit2000
Given that roughly 3/4 of the U.S. National Debt is held by or depending upon by average citizens, I hope to God they don't ever talk about just writing off the debt. That will destroy, overnight, the retirements and savings of millions of people that spent a life time building whatever little bit they have.

I'm not sure where writing down debt at the level of many trillions comes from, but the only time I've seen that happen in history is following a war, which the forgiven nation almost always lost in total terms.

edit on 29-11-2013 by Wrabbit2000 because: (no reason given)

the GREEDY, SHORT sighted mentality of SELF.. should be a billboard poster..

how incredibly typical of someone possessing GREED.

reply to post by HanzHenry


I don't quite get what you mean there. How are the school teachers, factory workers and others evil and greedy? These are the people whose pensions and union funds are tied up in US treasuries and notes. That is where all but around 5 trillion of 17 trillion is sitting. Not with China, Japan or some faceless bankers....but average people like you see everyday on the street. That is who represents the actual money behind our national debt figures.

Write off the debt..and you're writing off their lives. None of those people that would be greatly impacted are rich or anything remotely close to it. The rich have money in those areas too, but know better than to invest too heavily in any one thing, so they rarely get clobbered. Us average folk don't have that luxury, so real lives and futures ride on how this debt insanity is handled, IMO.

what if we cancel them and the debt, we are only slaves because we allow our selves to be slaves. the power is in the numbers we just cant rally them, they keep us divided,distracted, indebted and conquered.

Now I'm starting to get confused. Who is "cancelling the debt"? In the case of U.S. National Debt, surely it is the individuals, pension schemes and investors who would cancel, not the Government. And who in their right mind would do that - if you lend money to the Government, you expect to get it back. If the Government "cancels" the debt, isn't this called "default".

the wealthy seem to think they need more, and they will ALWAYS, ALWAYS pursue that goal, no matter who gets hurt by it....question...why would a billionaire (one thousand million dollars) want more income? he could live a life of luxury, as well as his children could, and their children could...and yet, we the people, somehow think that imposing a high tax on these wealthy individuals is terrible. Exxon, a corporation that sells a commodity that 99% of the world population requires, makes 10's of billions of dollars in PROFITS a year, and yet, they get tax breaks, that the American taxpayer has to make up out of their own personal tax payments. corporations are the modern money collectors for the wealthy.

reply to post by jimmyx


destroy EVERYONE that has over a millions dollars.. and destroy ANY heirs to their ill-gotten wealth.

ALL wealth is Ill-gotten.. everyone chooses the EASY route of "going along, to get along".

when someone can Profit off of:
1. the HUNGER of others..
2. the HEALTH of others
3. The SHELTER of others.

the whole system... AND EVERYONE who has benefited from it NEEDS DESTROYED..

if you own more than ONE house, you should be completely DESTROYED.. because you are taking another's NEEDS and found a way to personally PROFIT off of someone less fortunate..

HanzHenry
reply to post by jimmyx

 

destroy EVERYONE that has over a millions dollars.. and destroy ANY heirs to their ill-gotten wealth.

ALL wealth is Ill-gotten.. everyone chooses the EASY route of "going along, to get along".

when someone can Profit off of:
1. the HUNGER of others..
2. the HEALTH of others
3. The SHELTER of others.

the whole system... AND EVERYONE who has benefited from it NEEDS DESTROYED..

if you own more than ONE house, you should be completely DESTROYED.. because you are taking another's NEEDS and found a way to personally PROFIT off of someone less fortunate..

A million dollars is not a lot of money today. "Millionaire" meant something when it was coined in the 1700s and used in the 1800s, heck even at the turn of the century, but now if you take away a person's home the number of "millionaires" drops drastically. (A sign of inflation, nothing more.)

Let's assume a person has a net worth of a million, a house worth 500k, shares of their business worth 500k, and maybe 50k in the bank.

They are rich?

That's a small business owner. Maybe one who gives a dozen people jobs. They work just as hard as anyone else (if not harder) and you think they are a problem?

Have nots always want what the haves got.

Like saying I got a can of coke so you should throw out your bottle of coke 'cause it's bigger than mine. Meanwhile there is some prick with a warehouse full of coke products and he's keeping them for a rainy day. But no one worries about him.

The point being that as long as wealth is being injected back into the economy somehow, it's not such a bad thing.

Definitely worth a S&F ... and definitely worth the watch.

Hopefully this is a lead-up to the cancellation of debt as it stands today.