of course you can cancel debt, it's not even a new idea.
Debt is not real money it's an artificial construct.
A bank does NOT need to have any "money" to "loan" to you.
Your signature on a contract called a Credit Agreement authorises the bank to create credit in your name,
When you spend it it becomes "money".
If you "borrow" 200K to buy a house, for example, the bank will credit your account at the time of signature and you have "money" to purchase the house.
You buy the house with those funds and take possession of the house.
The seller of the house is now paid in full. You have a house and a 200K debt with interest added.
Now, if all debts are cancelled, who loses ?
Those with a strong knee-jerk reaction might say that the banks will lose 200k, but as I described above,
The banks did not loan you their own cash, they simply handled the paperwork and typed in the numbers into a computer.
However, because the banks are utterly fraudulent by design, they have been allowed to use your credit as their assets and have gambled with this fictitious credit.
It won't matter the old system is designated for replacement, with all debt being cancelled and Treasury money based on Nationally owned assets will replace the current system.
Okay I can see the road and i like it, just thinking in my mind about the frugal people, whom have lived frugally, all vehicles used so they could work on them, themselves, saved for years and bought a small lot of land then built a really small home over time. The guy next door has massive debt, mcmansion, the best newest vehicles, etc.
The small frugal property is better in my opinion because of the debt load being zero. I'm sure some feels would be stepped on if the "shortcut" taken by the guy in the mcmansion with tons of debt that was then forgiven, and now both have zero debt, except only one of those people worked their entire lives to be debt free.
What about renters, and people or corporations with massive ammounts of property? Is the guy who has 20 mortgages he pays with "renters funds" debts forgiven while the renter still owes rent?
Don't get it twisted i would still love to see this happen, but I don't see how it could ever be fair?
Levelling the playing field will affect each of us differently,
I paid off my mortgage a while back after spending almost my entire life re-paying it, so I won't gain personally from this one issue,
however if you look at the other positives, we will all benefit from the new world that is imminent.
I have no idea how the renters vs owners issue will be resolved, but in the bigger picture, it's a small issue.
The owners are also likely to have loans too, which will be cancelled as well.
The current legal systems are up for review and change. Perhaps that will resolve the Lease (renters) vs Title (Owners) question.
Just pointing out probable arguments, personally i believe we need this even without giving everyone money. Remove fiat standard, make money real again, remove income tax and watch everything grow massively
of course you can cancel debt, it's not even a new idea. Debt is not real money it's an artificial construct. A bank does NOT need to have any "money" to "loan" to you. Your signature on a contract called a Credit Agreement authorises the bank to create credit in your name, When you spend it it becomes "money". If you "borrow" 200K to buy a house, for example, the bank will credit your account at the time of signature and you have "money" to purchase the house. You buy the house with those funds and take possession of the house. The seller of the house is now paid in full. You have a house and a 200K debt with interest added. Now, if all debts are cancelled, who loses ? Those with a strong knee-jerk reaction might say that the banks will lose 200k, but as I described above, The banks did not loan you their own cash, they simply handled the paperwork and typed in the numbers into a computer. However, because the banks are utterly fraudulent by design, they have been allowed to use your credit as their assets and have gambled with this fictitious credit. It won't matter the old system is designated for replacement, with all debt being cancelled and Treasury money based on Nationally owned assets will replace the current system.
Fiat vs Real.
Okay I can see the road and i like it, just thinking in my mind about the frugal people, whom have lived frugally, all vehicles used so they could work on them, themselves, saved for years and bought a small lot of land then built a really small home over time. The guy next door has massive debt, mcmansion, the best newest vehicles, etc. The small frugal property is better in my opinion because of the debt load being zero. I'm sure some feels would be stepped on if the "shortcut" taken by the guy in the mcmansion with tons of debt that was then forgiven, and now both have zero debt, except only one of those people worked their entire lives to be debt free.
What about renters, and people or corporations with massive ammounts of property? Is the guy who has 20 mortgages he pays with "renters funds" debts forgiven while the renter still owes rent?
Don't get it twisted i would still love to see this happen, but I don't see how it could ever be fair?
Levelling the playing field will affect each of us differently, I paid off my mortgage a while back after spending almost my entire life re-paying it, so I won't gain personally from this one issue, however if you look at the other positives, we will all benefit from the new world that is imminent. I have no idea how the renters vs owners issue will be resolved, but in the bigger picture, it's a small issue. The owners are also likely to have loans too, which will be cancelled as well.
The current legal systems are up for review and change. Perhaps that will resolve the Lease (renters) vs Title (Owners) question.
Who told you that life was fair?
Just pointing out probable arguments, personally i believe we need this even without giving everyone money. Remove fiat standard, make money real again, remove income tax and watch everything grow massively
In there somewhere is the value of a dollar