Posted on 06/09/2010 12:36:11 PM PDT by SeekAndFind
“Don’t be telling the gangsta’s in this thugocracy about quadrillions.”
It’s true: if they start discussing things in terms of quadrillions, then the trillions they are squandering become rounding error.
Read up on it in Leviticus. There was a calculated cyclic excusal of debts in the old, old days.
Hmm. I seem to recall that some folks believe that Jesus Christ will return during the year of Jubliee.
As a blanket statement, it is indeed false.
There are some types of derivatives that are not regulated, however. I’m of a mind that there should be no private derivative deals; they all should be forced onto an exchange, with full pulic reporting.
Debt deflations are like that. There’s no easy way out of them.
Short version: every 50 years all land went back to original owners and all debts were cancelled.
Seems like a human habit that every 60 years or so, economies get so over leveraged and screwed up that it all breaks down and, thru one crash or another default, land ownership reverts and debts are zeroed. If it’s gonna happen anyway might as well do it as a planned coordinated predictable event.
The Jewish Jubilee was every 50 years...2000 year s ago they figured out the NECESSITY of this to happen...to preserve social peace...
“This was to a be a time of renewal when the people could be made free of the obligations they had contracted for
themselves and for their land. As long as jubilee was practiced, families in Israel did no have to worry about chronic poverty, because they all got a piece of the land.
http://www.associatedcontent.com/article/492427/the_year_of_jubilee_a_jewish_tradition.html
It would be the best way to effect reparations and then some. Take all the wealth that people have generated over the last 300 years and wipe it out by making treasuries (and thus dollars) worthless. People would be left with only their property, which they would end up having to defend from the hordes. Not a good way for us to proceed.
Read Leviticus Ch. 25. The King James calls it “Jubile.” Slightly different spelling, same concept. It’s a periodic canceling of debts.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.