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What Will ‘Debt Jubilee’ Look Like?

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The economies of the West (with few exceptions) are all hopelessly insolvent. Globally, debt-levels have reached such an extreme, bloated magnitude that outside of the banksters’ derivatives casino this is our new “biggest bubble.” For reasons which will be made clear shortly; many readers are unaware of the severity of this global debt-crisis. Let’s review the facts.

Virtually all Western nations are sitting with their highest debt-loads in history, meaning their debt-to-GDP levels are their highest ever – and most are well past the level which constitutes an official “debt crisis.” Worse still, all of these debtors have debts which are increasing at a much, much faster rate than economic growth (and this gap continues to increase).

In other words, those nations which are already insolvent have no rational hope of ever becoming solvent again; while those nations which are merely “nearly insolvent” have no rational hope of avoiding insolvency. Yet we have this collection of debtors assuring us again and again and again that they are “bailing out” each other.

How is this possible? It’s not. As an elementary premise of arithmetic/logic; it is impossible for one debtor to ever “bail out” another – directly. In fact there are only two ways in which one debtor may attempt/claim/pretend to be “bailing out” another debtor:

a) Borrowing more money one’s self, and then giving (i.e. gifting) it to the other debtor

b) Kiting’ a cheque, and then giving that (illusory) “money” to the debtor

However, our governments have never claimed/admitted doing either one of those things. Here is what our governments are telling us.

They claim to have “bailed out” these insolvent debtors (starting with Greece) by lending them more money. Again, as an elementary premise of arithmetic/logic it is impossible to “bail out” an insolvent debtor by lending that debtor more money.

Not only does it make the insolvent debtor even more insolvent; it instantly turns that debt-market into an open Ponzi-scheme. Only ever-increasing quantities of new loans can delay implosion, and the longer the Ponzi-scheme is perpetuated the more damaging/devastating the ultimate collapse must become.

The original rebuttal of our governments (and bankers and the media) to such obvious criticism was simple: none of these debtors “would ever default”; such as when Greece’s banker – EU “monetary chief” Olli Rehn – told reporters over and over (in 2010) that there was “no possibility” of a Greek default. Obviously these “leaders” were forced to stop making this inane assertion after Greece defaulted on its massive debt.

 

So when these debtor-governments, and their bankers, and the “economic experts” in the media claim that these nations are being “bailed out” they are lying to us. They are lying as a matter of simple logic. And the lies have been demonstrated as such, empirically, through the harsh prism of hindsight.

This brings us to what our governments have not been telling us: where are they getting the “money” for these phony “bail-outs”? Obviously the lesser-debtors are not borrowing the money to give to the greater-debtors. Even our political drones can operate a calculator well enough to understand that borrowing money, and then throwing it away by funneling it into these Ponzi-scheme debt markets would make the “lesser-debtors” also greater-debtors; and in about as much time as it takes to say the words “compound interest.”

This means our lying governments have been kiting cheques in order to perpetrate these sham bail-outs, the only other economic possibility. Of course these serial-liars don’t admit to this either; rather, they tell us they are “using their printing press.”

What does a Deadbeat Debtor do when he/she kites a cheque? He takes an ordinary piece of paper (with absolutely nothing “backing” it), hands it his creditor, and (after signing his name to it) claims that a debt has been “paid.”

What do our Deadbeat Governments do when they use their printing press to perpetrate one of their (endless) “bail-outs”? They take an ordinary piece of paper, with nothing backing it, they hand it to creditors, and they claim that debts have been paid.

But wait! Our governments tell us that the paper which comes off of their printing presses is magic paper: it has “value” even though there is absolutely nothing backing it. How does this magic paper acquire its value? Our governments tell us the paper is valuable, and (of course) if our governments tell us something it must be true.

Such is the wonder of “fiat currencies”, where our governments can turn ordinary paper into magic paper, just by turning on their printing presses (and saying the magic words). Of course from the time we were children we have all been familiar with “magic” goods. Jack traded the family-cow for some “magic beans”, and went on to fame, fortune, and glory.

Unfortunately that’s just a children’s fairy-tale. In the real-life “fairy tales” spun by our politicians, bankers, and media talking-heads; there are no “magic beans.” Trade-in the family cow, and all you’re left with is one, less cow.

So we have our Deadbeat Debtor governments kiting cheques, injecting this fantasy-money into Ponzi-scheme debt-markets, and claiming they are “bailing out” the other Deadbeat Debtors – as part of “solving” this debt-crisis. At what point do even the most-comatose minds begin to suspect that something isn’t quite right here?

However, there is still one more lie which the politicians/bankers/media talking-heads continue to pass-off on the Sheep successfully: it’s “impossible” for any nation with its own printing press to ever default on its debts. Those readers (above the age of 10) who have ever accepted this farcical statement as truth should be thoroughly ashamed of themselves.

Germany’s Weimar government claimed it would/could never default, because it too had a “magic” printing press. What happened? Excessive money-printing totally destroyed the value of its currency, devastating its entire economy, impoverishing all of its citizens – and then it defaulted. Except by then its debts were a hundred times larger.

There are no “magic printing presses”; no “magic paper”. Printing infinite quantities of fiat currencies cannot prevent any debt-default. All that can ever do (as a proven proposition of history and arithmetic) is to take a (relatively) small debt-default and turn it into a gigantic debt-default – while completely destroying one’s own economy in the process.

This brings us to “Debt Jubilee”: wiping the slate clean by burning all(?) of the bad debts created by these bankers and politicians. It is a regular, recurring event throughout History; as whenever one or more governments sink to such a level of political/moral/economic corruption debt-default is usually one of their lesser sins.

So what will our 21st century Debt Jubilee look like? With History’s most-corrupt governments, expect the most-corrupt “solution.” The debts of our governments, the Big Banks, and the wealthiest Oligarchs will be totally erased. We will be told they are doing this to “save us” from drowning in their (reckless/fraudulent) debts.

However, the Little People will face a somewhat different future. Their debts will be maintained at 100-cents-on-the-dollar. The bankers, politicians and Oligarchs (via their Corporate Media) will tell us that this is necessary to “protect the integrity of the System” (their System).

Think this level of perversity/injustice is impossible? We already have precedent. After the Wall Street banks had caused (created?) the Crash of ’08 (with their reckless fraud/gambling); and after they took their $15+ trillion from the U.S. government in assorted hand-outs, 0% loans, tax-breaks, and “loss guarantees” (i.e. more hand-outs); the Wall Street banksters kept their massive bonuses.

We were told this was because of “the sanctity of contracts.”

Then after this massive give-away; various U.S. governments began unilaterally hacking-and-slashing the wages, pensions, and benefits of their own workers – which had been freely/fairly negotiated in their own contracts. The reason? After giving $trillions to the bankers; the workers were told the government “couldn’t afford” to honour their contracts.

You’ve been warned.

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Jeff Nielson
...
written by Jeff Nielson, March 07, 2013
....why would we want to constantly focus on, like a mantra, how much we are doomed? A mantra is a meditation tool to change our mental patterning.

So it seems we are all meditating and infusing our sub-conscious mind with how we are all screwed and we write about it in 1 million different flavors. 7B people turned into slaves by maybe 50k "handlers"? We are 7B victims?


Certainly a valid question Lifeisfullofchoices.

I would frame my reply in three parts. First, I would disagree we are being "constantly" bombarded with doom-and-gloom articles. On the contrary, my main incentive for my writing is seeing the mainstream media CONSTANTLY pumping-up "don't worry, be happy" FICTION about how things are getting fixed. So in fact such pieces are the distinct minority -- and I'm a "contrarian" by any measure.

This brings me to one of my favorite quotes:

"All that is necessary for the triumph of evil is that good men do nothing."

-- Edmund Burke

It is absolutely ESSENTIAL that someone (whether myself or someone else) vigilantly describes what is taking place in order that we don't SNOOZE through the destruction of our own societies.

Lastly, as someone who certainly gets tired of WRITING doom-and-gloom; I should point out that I have written DOZENS of pieces on real solutions for our problems.

It would be nice if we had the LUXURY of simply tuning-out all "negativity" in the world. Unfortunately we don't. smilies/wink.gif
lifeisfullofchoices
...
written by lifeisfullofchoices, March 07, 2013
One thing I would challenge about this article, and the comments after, and also in general most articles being written these days that so well outline the system and its enslavement processes, its lies, its trappings, its insurmountable nature is....

....why would we want to constantly focus on, like a mantra, how much we are doomed? A mantra is a meditation tool to change our mental patterning.

So it seems we are all meditating and infusing our sub-conscious mind with how we are all screwed and we write about it in 1 million different flavors. 7B people turned into slaves by maybe 50k "handlers"? We are 7B victims?

Are we sovereign beings that have complete say over our lives or are we victims to our bankers, our parents, our wrong side of the tracks upbringing, our good looks, our bad looks?

Rise from your knees if ye be free men!! Yes, right now. Make it so - NOW.

I would offer there is a much better mantra one can use - I am free, or simply I AM or of course whatever resonates with you deeply. Unless one desires reaffirming each and every day all day long you are a victim, a slave to a few old, overweight, white guys, why troll the internet looking for more problems? Served its purpose for some awakening, and still for some its very important, but know that you have to step out of this phase at some point - the faster the better out of anger and victimization. Turn the anger energy toward creation of something better. It doesnt have to be a new monetary system, every change of anger to love or compassion helps transform humanity and thus the planet as well. The brain patterning created by the bad news sharing process can sometimes be way worse than someone who is unaware, because the unaware person is not repeating how much he is screwed. Find the right mix that is empowering for you and others, and dont waste your time trying to convince anyone while at it.

Note - Recently, there have been foreclosure filings on most govts and many large banks. Govts of course are in most all cases today literal corporations. I will not attempt to explain this issue through this comment as its a bit involved. These filings of foreclosure occurred by The One People's Public Trust, through the UCC (Uniform Commercial Code). This is an entity through which the cartel, our FORMER handlers, used to bastardize our govts and constitution. Essentially, the OPPT has on the behalf of all human beings filed numerous foreclosure filings acknowledging the invalid enslavement of people against their will through fraudulent money schemes and that these issues have now been remedied . One obviously need no longer pay money or homage to these foreclosed entities. actually already been used successfully by several people (as well as other processes over the years).

One might say, ok, great, maybe some novelty value, social media fun, etc. but what really could become of it? But realize that it is an argument that the cabal cannot actually best, nor has, because to challenge the documents would be to admit the govts have been changed into for profit corporations. Again, I understand how folks might poo poo the validity or value per their conditioning, their brainwashing, but not only symbolically and energetically but "legally" within the old white guys system itself these filings have been made and ARE JUST AS VALID AS ANY THAT PRECEDED THEM that seemingly enslaved mankind. We were enslaved through this system's mechanisms that the people are just now barely waking up to.

So, that may not be a very quality explanation of several very interesting and intricate subject matters, but maybe you get a taste of what one might do with their life from here regardless. There are tremendous amounts of information on the OPPT if you care to learn more.

You are sovereign whenever you choose to be. Or you can keep playing the game where 50,000 fat, old, white farts enslave 7B victims?

We are not some sheep to be herded. That's a good start to unraveling this nonsense....and it is truly nonsense. Keep your sense of humor, laugh at any lack of awareness to this point, but do not delay in declaring your freedom this moment.

Life is full of choices. Choose. Yes you can, right now.
Jeff Nielson
...
written by Jeff Nielson, February 18, 2013
While it may be fancifully pleasant to envision them hanging upside down from a lamp post or having their heads removed from their necks, this will not happen.
They are in control, and the politicians are their lap dogs. We should all know from 2008-2009 that they will get whatever they want to steal.
Does anyone remember the trillions of dollars that Rumsfeld said was missing from the Dept. of Defense on September 10th, 2001?
I think not.
They will destroy, they will take, they will ruin everyone but themselves.
Why?
Because they can.

We may take steps to protect ourselves, but I fear they are several steps ahead of use, and they have the ways & means to crush whatever sense of justice anyone may imagine.
The sad fact is that they are winning.
They will destroy, but they will not destroy themselves.
They will destroy you.


I fear you're correct Bobbbny.

History tells us that when the Peasants finally pull out their guillotines that it is always the Lesser Oligarchs who end up one foot shorter: the "sacrificial lambs" to take the attention away from the Greater Oligarchs.

They lie LOW for a couple of decades (literally and figuratively), and then their next cycle-of-stealing begins...
Jeff Nielson
...
written by Jeff Nielson, February 18, 2013
The Banksters, Governments, and Oligarchs would be de facto declaring war on the people of the planet. All are just a Neo version of King George, Mussilini, etc. and they should meet similar fates.

Perhaps the American and French people can renew our strong frienship of our similar revoulutions over 200 years ago. Running the guillotines around the clock for a week or so will put the people of the planet back in control.

Dictators and thieves, that is what they are, will then get what they deserve. Hopefully the Bankster/Gov/OLI crowd will think of Mussilini, Kadafi, Hussain, etc and make the Debt Jubilee for all equally. If not, they deserve the same fate as Hiltlers punks at Nuremberg.


Yes Paxjds, the immortal words of Santayana again spring to mind:

Those who cannot remember the past are doomed to repeat it.

The ultra-wealthy THINK they have "learned" from their past failures, but what they are utterly incapable of comprehending is that a system where 1% of the population control almost all of the wealth could never possibly be either stable or sustainable.
Jeff Nielson
...
written by Jeff Nielson, February 18, 2013
So you're saying there will be a debt jubilee for the oligarchs, not us, correct? In other words, we will fund their debt jubilee, dissolving the debt that they created through corrupt means in the first place. That is virtual serfdom, is it not?


AgAu, one of my earliest commentaries was entitled "Neo-Feudalism in the 21st Century"; so yes, this two-tier "economic justice" is part of a much larger pattern.
bobbbny
...
written by bobbbny, February 18, 2013
While it may be fancifully pleasant to envision them hanging upside down from a lamp post or having their heads removed from their necks, this will not happen.
They are in control, and the politicians are their lap dogs. We should all know from 2008-2009 that they will get whatever they want to steal.
Does anyone remember the trillions of dollars that Rumsfeld said was missing from the Dept. of Defense on September 10th, 2001?
I think not.
They will destroy, they will take, they will ruin everyone but themselves.
Why?
Because they can.

We may take steps to protect ourselves, but I fear they are several steps ahead of use, and they have the ways & means to crush whatever sense of justice anyone may imagine.
The sad fact is that they are winning.
They will destroy, but they will not destroy themselves.
They will destroy you.
paxjds1
...
written by paxjds1, February 18, 2013
The Banksters, Governments, and Oligarchs would be de facto declaring war on the people of the planet. All are just a Neo version of King George, Mussilini, etc. and they should meet similar fates.

Perhaps the American and French people can renew our strong frienship of our similar revoulutions over 200 years ago. Running the guillotines around the clock for a week or so will put the people of the planet back in control.

Dictators and thieves, that is what they are, will then get what they deserve. Hopefully the Bankster/Gov/OLI crowd will think of Mussilini, Kadafi, Hussain, etc and make the Debt Jubilee for all equally. If not, they deserve the same fate as Hiltlers punks at Nuremberg.
agau121
...
written by agau121, February 18, 2013
So you're saying there will be a debt jubilee for the oligarchs, not us, correct? In other words, we will fund their debt jubilee, dissolving the debt that they created through corrupt means in the first place. That is virtual serfdom, is it not?

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