Debt Jubilees: A Last Resort Before The Global Financial Collapse
On June 1, 2023
A Debt Jubilee is coming. It will be introduced as a last resort before a global financial collapse. However, without a Gold-backed Currency Reset it is a very bad idea. Here’s my take on the alarming rise of global debt and the potential consequences of Fiat Monetary System debt jubilees as the world teeters on the brink of a financial system collapse. Brace yourself for an unsettling glimpse into the Jubilee future without Our GCR.
Debt Jubilees: A Historical Solution with Dire Implications
- Ancient Babylonian rulers employed debt jubilees to prevent violent revolts caused by overwhelming debt.
- Debt jubilees redistributed wealth and acted as societal pressure release valves.
- The practice spread across different civilizations, even recognized in the Book of Leviticus.
- Today, with unbearable levels of government, corporate, and personal debt, debt jubilees may make a big comeback.
Debt jubilees, a practice originating in ancient Babylon, were once employed to prevent social upheaval caused by overwhelming debt. Now, as modern society grapples with insurmountable levels of government, corporate, and personal debt, the revival of debt jubilees may appear enticing. However, the implications of such a solution are far from promising.
The Biggest Wealth Transfer in History: Imbalances and Unintended Consequences
- Debt jubilees don’t create new wealth but redistribute it on a massive scale.
- Examples like PPP (Payroll Protection Program) loan forgiveness and President Biden’s student loan forgiveness reveal the impact.
- Student loan forgiveness alone could cost at least $590 billion.
- Concerns arise regarding inflationary effects and setting irreversible precedents.
Debt jubilees, although touted as redistributing wealth, simply shift the burden from one party to another. Recent examples like PPP loan forgiveness and President Biden’s student loan forgiveness reveal the far-reaching impacts. These actions, accompanied by unprecedented costs, set dangerous precedents and sow the seeds of discontent among those who acted responsibly. The promised relief for some may come at the expense of others, intensifying social and economic imbalances.
The Rising Tide of Debt and the Precarious Breaking Points
- Consumer debt, surpassing $16 trillion, is reaching unbearable levels.
- Rising interest rates make servicing record debt increasingly challenging.
- Biden’s student loan forgiveness sets the stage for future debt jubilees.
- The pressure to provide debt relief before elections may become irresistible.
The staggering rise of consumer debt, soaring past $16 trillion, serves as a stark warning sign. As interest rates climb, the burden of servicing this record debt becomes increasingly unsustainable. The recent student loan forgiveness, fueled by political expediency, sets a precedent that could trigger demands for further debt relief. A significant portion of the population, burdened by car loans, mortgages, and credit card debt, may soon demand their share of debt forgiveness.
The Coming Federal Debt Jubilee: Unraveling the Global Financial System
- The US federal government faces the biggest debt in the history of the world.
- The debt is growing rapidly and reaching a financial endgame.
- Even paying the interest expense becomes a daunting task.
- The Federal Reserve is trapped between rising inflation and bankrupting the government.
The United States government faces an unparalleled debt crisis, with levels skyrocketing beyond comprehension. The sheer magnitude of the federal debt, accumulating at an alarming pace, points to an inevitable financial endgame. The interest expense alone threatens to consume more than half of current tax revenues. Even a return to average interest rates would prove insufficient to combat the surging inflation. The Federal Reserve finds itself trapped between a rock and a hard place, as raising rates to tackle inflation would push the government to the brink of bankruptcy.
Resetting the System: An Ominous Path Forward
- A debt jubilee may be part of the US government’s strategy to reset the system.
- Stealthily implementing inflation could be a means to repudiate the federal debt burden.
- Inflation disproportionately benefits debtors, including the US government.
- Consequences include devastating savers, eroding purchasing power, and global financial instability.
In the face of an impending financial collapse, governments often resort to drastic measures to “reset” the system. While the specifics remain uncertain, a debt jubilee of biblical proportions may play a significant role in the US government’s strategy. To avoid the appearance of default, they may implement a stealthy solution: inflation. Inflation disproportionately benefits debtors, making it an appealing choice for the largest debtor in history—the US government. However, the consequences of such a course of action will be far-reaching, devastating savers, eroding purchasing power, and shaking the foundations of the global financial system.
The resurgence of debt jubilees as a purported solution to overwhelming debt levels carries dire implications for the global financial system. The unequal redistribution of wealth, the normalization of debt forgiveness, and the unsustainable rise of debt in various sectors paint a bleak picture. As the US government grapples with an insurmountable federal debt burden, a looming financial collapse threatens the stability of the global economy. The path forward seems to involve a stealthy debt jubilee through inflation, exacerbating social, economic, and geopolitical tensions. The warning signs are clear—brace yourself for the turbulent times that lie ahead.
Combining a Gold & Commodity-backed Currency with a Debt Jubilee is the Solution
The current state of the global financial system, marked by soaring debt levels and the potential for a catastrophic collapse, necessitates a comprehensive solution. While debt jubilees may provide temporary relief, a more sustainable approach lies in adopting a gold and commodity-backed monetary policy worldwide. By combining a debt jubilee with a return to sound monetary principles, governments can achieve a lasting solution that addresses the root causes of the crisis.
A gold-backed currency would restore confidence, provide stability, and prevent the rampant inflation associated with unchecked money printing. Additionally, coupling debt forgiveness with a commodity-backed system would ensure that wealth redistribution is more equitable and sustainable, avoiding the pitfalls of simply shifting the burden from one party to another.
By embracing such a holistic approach, governments can not only alleviate the immediate burden of debt but also establish a foundation for long-term economic stability, prosperity, and a resilient global financial system.
Source: GCR RealTimeNews
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