In Biblical times, a jubilee meant the freeing of debt slaves.
Ancient Israelites had the concept of a debt jubilee every five decades, where people could come out of servitude, return to their land, and so forth.
Solon, who is credited for building some of the foundations of ancient Greek democracy in the sixth century BC, used a partial debt jubilee as part of his solution to avoid catastrophic class conflict:
https://www.lynalden.com/debt-jubilee/
When Trump sees his economy crash and burn despite his best efforts, I wonder if he turns to a debt jubilee. This would make him beloved on the left, and the right would forgive him for it.
Given his populism and unpredictability, I could see this happening. And if we did stomach such a measure, it would have immediate positive effects on the economy despite the moral hazard it creates.
No. Jews only annul each other’s debts. Not happening.
My favorite shill for reality strikes again!!!
God, I hate that this is true.
that's the textbook definition of why central banks exist outside of democratic control and oversight. Instead, central bank power is regulated to the Rothschilds and other (Jewish) interests so control is not too prone to democratic influences.
With a Rothschild central bank you get inflation and rich Jews ultimately leading us to ruin. With a democratically controlled central bank you get Argentina levels of inflation much faster because no politicians wants to hike rates on their watch.
It's leading us to crisis either way.
Aka center cutting off circumference (circumcision). It's suggested banks (sides within circumference) which government (control mind) by tempting one to ignore center.
Each Rothschild operates at center (life) of regulation (inception towards death)...others ignore this by paying trust into suggested banks, which empowers each Rothschild to de-regulate aka to remove regulatory restrictions by feeding others into the regulating natural order.
How does nature "remove regulatory restrictions"? By setting each being within as "free" will of choice, hence remove implying each ones RE-sponse (life) to being MOVE-ed (inception towards death).
I don't get central banking as such, I don't think the author makes a good case as to why the central bank can't just forgive all the debt.
So the reason the bank can't forgive the dept is that it would no longer be independent of the government? That's the entire reason? This argument seems rather weak and lacking in substance.
I agree that they should be independent (really they should not exist at all), but I think there are more reasons.
At least when it comes to foreign debt, we rely on other countries buying our debt and using our dollars. If we have to default on that debt, who would want to lend us money after that? Government would have to be reigned in if they can't play these debt games anymore... and they don't want that.
to argue the central bank should be free from democratic influences is slave talk. You should go one step further and just admit you desire the rulers of the country be free from democratic influences as in your previous comment (no politician wants to do difficult things on their watch).
It's nonsensical to argue that the central bank be free from democratic influences but the government not be. This amounts to civilization of slaves that are passively given the toy steering wheel to give the illusion of control (using the analogy lyn gives). The power contains within a central bank rivals the power of the government.
As I said they should not exist at all. But if the option is political (you call it democratic) control or independence, then definitely independence.
A politician never wants interest rates going up on his watch. People aren't going to vote for an economic crash, so they end up with hyperinflation which is worse. Though we may end up there anyway, so the best idea is no central bank.
a) Debt cannot be forgiven by another; only let go of by oneself.
b) Debt aka death implies the process of dying for each one living within...when choosing to hold onto anything else.
If form (life) within flow (inception towards death) chooses to hold onto anything, then form owes a debt to the flow of death.
Coming (inception towards death) into (life) implies being set "free" from one another. It's therefore ones "free" will of choice to go into servitude to one another, while ignoring this.
Demos (common people) + kratos (strength) aka solo (singular) using common (plural) for strength aka each ones choice collectivized into a commonwealth; becoming the strength of each sovereign chosen one.
If ones choice selects a chosen ones suggestion, then a legislator (solōn) has been selected for the proposition of laws.
Because holding onto anything puts the temporary partial into debt to the ongoing whole.
Jubilee/yobhel - "rams horn"... https://en.wikipedia.org/wiki/Shofar
Which is about what? Causing (inception towards death) to swell (life) aka blow/bhel/ball/ba'al etc. A jew drives by impact, while blowing gentiles away....