Quote from William Rennick:
There's no way in hell we can pay off 16 trillion in debt, and most of the rest of the world is in the same boat. The interest alone for the USA is approaching 1 trillion a year.
Serious question; is it feasible to write off worldwide sovereign debt and start with a clean slate? Of course, new laws outlawing unbalanced budgets would have to be made for all nations getting bailed out. What would be the repercussions?? Didn't the old time Jews do this every 50 years? I'm very interested seeing the thoughts of ET on this.
Rennick Greenspan out
Central Banks print money and buy soveign debt. This amounts to theft, via outright monetization of the peoples money, to "lend" money back to the people. That debt can be wiped out immediately.
Commercial banks purchase sovereign debt in the exact same way. They create commercial bank credit - money - then buy sovereign debt. The exact effect is the same - the peoples money is devalued via bank monetization. That debt can be wiped out since commercial banks effectively print the money they loan to the Government.
The rest, is real debt, owed to people, corporations and funds that actually lent the government real money made by people who went out into the motherfucking economy, and earned it. That debt should be honored and paid back.
All banker debt can be wiped out - Central and Commercial banks. Fuck the bankers.
One problem - the bankers control the system. Thats' why it hasn't happened. Why would they cut their own throat to save their slaves (us)?
The coming war, will be the people, versus the money printers (the banker motherfuckers).
