I can't say for certain, but I will try:
I think an ordinary debt jubilee wipes out all debt, but does not change the system. You start over again at zero level debt and leave as is until the debt bubble climbs to an unsustainable level, at which time there is another jubilee. My understanding is that the Babylonians used to practice this.
In Israel, there was supposed to be a debt jubilee reset every 50 years, but the Israelites didn't follow it.
I've only read a little about Nesara/Gesara. My admittedly incomplete understanding is that the debt bubble would be wiped out, and a gold backed debt free system would be put in place. Most taxes would be eliminated, esp income tax, and a single sales tax would be used to run government. Some items would be exempt from the sales tax. The dreaded Rothschilds fed gets eliminated.
I think, but am not sure, that some compensation would be paid to those who were essentially overtaxed during their lives.
It also seems to me there was some idea similar to a basic income, but not like the Chinese UBI. It would allow people to pursue options other than flipping burgers and what not. For example, maybe if you have a talent and desire for therapeutic activities with the elderly, a UBI would enable you to follow that dream without worrying if you can put food on the table.
It seems to me that I read Islam does not allow usury. Instead of charging interest on a loan, an Islamic bank charges a fee for the loan, but the loan itself is interest free.
I'm sure some anons here have better knowledge about all of this than I do.
I can't say for certain, but I will try:
I think an ordinary debt jubilee wipes out all debt, but does not change the system. You start over again at zero level debt and leave as is until the debt bubble climbs to an unsustainable level, at which time there is another jubilee. My understanding is that the Babylonians used to practice this.
In Israel, there was supposed to be a debt jubilee reset every 50 years, but the Israelites never followed it.
I've only read a little about Nesara/Gesara. My admittedly incomplete understanding is that the debt bubble would be wiped out, and a gold backed debt free system would be put in place. Most taxes would be eliminated, esp income tax, and a single sales tax would be used to run government. Some items would be exempt from the sales tax. The dreaded Rothschilds fed gets eliminated.
I think, but am not sure, that some compensation would be paid to those who were essentially overtaxed during their lives.
It also seems to me there was some idea similar to a basic income, but not like the Chinese UBI. It would allow people to pursue options other than flipping burgers and what not. For example, maybe if you have a talent and desire for therapeutic activities with the elderly, a UBI would enable you to follow that dream without worrying if you can put food on the table.
It seems to me that I read Islam does not allow usury. Instead of charging interest on a loan, an Islamic bank charges a fee for the loan, but the loan itself is interest free.
I'm sure some anons here have better knowledge about all of this than I do.