I just don’t think cancelling debt is fair to all the people who lived a more ascetic lifestyle and worked hard to pay off their debts. Some loser could go buy a house on $500,000 in debt right before this “jubilee” and his $500,000 debt just gets cancelled? And he gets to keep the house? And meanwhile all the people who saved have all their savings cancelled and converted into some new currency? Sounds like communism to me.
Far from communism, fren. This is capitalism at its finest. Fiat currencies are, by definition, communist. Imagine how much better off we would be if we could all have our houses for free at the cost of the people who own the banks.
I just don’t think cancelling debt is fair to all the people who lived a more ascetic lifestyle and worked hard to pay off their debts. Some loser could go buy a house on $500,000 in debt right before this “jubilee” and his $500,000 debt just gets cancelled? And he gets to keep the house? And meanwhile all the people who saved have all their savings cancelled and converted into some new currency? Sounds like communism to me.
Far from communism, fren. This is capitalism at its finest. Fiat currencies are, by definition, communist. Imagine how much better off we would be if we could all have our houses for free at the cost of the people who own the banks.