It seems like a new banking system backed by something tangible again like how it was in the 1800's and prior would be a good move but would those of us in debt still be in debt to the banks? If not, how would our debts magically be absolved?
Example, say you owe money on your car and you have a ton of outstanding debt to a bank or credit lender. How exactly does implementing a new system of banking nullify this? Can't the bank still say "Since the USD is defunct, now you owe us the "New US Treasury Certificate" equivalent of that amount"?
I just can't quite put 2 and 2 together how the new currency would be debt free without older debts being absolved first.
It would have* to be a 1:1 relationship. The new USD would need to be "pegged" to the current USD. Positive and negative. Debt included. To whom? Whoever you owe it to.
Can it be absolved or restructured? (Unjust taxes, predatory lending, etc) That would be nice.
Should the financial war criminals who created an endless blackhole of debt be absolved? Absolutely fucking not.
Derivatives, naked shorts, synthetics, ETF/$hitCoin collateral, PFOF, toxic "assets sold but not yet purchased"... etc, it goes on forever. For those engaged in the financial crime that caused all of this?
Fuck no. No deals. Close all of their positions. Let the chips fall where they may.