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Forgive all debts

What do you guys think if they were just to forgive everyone's debts. No mortgage, no car payment, and no credit cards to pay for. I think that could really help our economy. Think about all the cars that people could go out and buy, therefore helping our infastructure. People that need work done on their house could now afford to do so.

There have been many cultures in the past that have done this. What do you guys think about this. Crticisim is welcome. What are the problems with doing this? What are some of the advantages?

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I can't believe what I'm

I can't believe what I'm hearing here. Of course you should honor your agreements, but in law, fraud vitiates any contract. Our present banking system is a fraud and has been since 1913. In fact I know of a trend where people are actually having their debts forgiven by the banks. It goes like this. You file bankruptcy which now requires arbitration. because the arbitrator is not some ass-hole bought and paid for judge, you can present the argument that because the "money" the bank loaned to you has no real value that the bank did not give you the necessary consideration to make the deal binding. 99% of the time the arbitrator will agree with you. By that time the bank will not want the exposure of that bit of news getting out if it went to trial so they will drop the case and forgive the debt.
Besides that, ever hear of the Jubilee Year? It was a neat little requirement in Biblical times. Every fifty years all account had to be settled. That meant any debts on the books at the end of every 50 year cycle had to be wiped clean and everyone started with a clean slate. Made it impossible for the money changers to gain control. Now that's a bit of wisdom that would have prevented this mess.
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This is what I was looking for

This destroys the bankers back.

We must keep our

agreements and not expect ANYONE to bail us out. We did purchase the products, we WANT to pay for them.

That would be a terrible idea for anyone with integrity and send a BAD message to our children!

We can prosper and survive this, and feel good about it. We must join our neighbors and community to work together - not be selfish.

Trade services with each other, without concern with what one service "used" to cost. If both are happy with the trade, then it's a win-win - cannot look at the "old money" part of the exchange.

We can trade anyway we want. Because my raspberries sell for $10 and your blueberries only sell for $4, has no impact on us trading. I have too many raspberries and would enjoy some blueberries - and visa versa.

See how it works. A trade or service only has the value to which one is willing to mutually accept.

MY biggest concern is that our govt. will say that China own my land because our govt. owes them money. They used us (laborers) and property as collateral. At least, that is what I'm thinking.

hate to crash the party, but

hate to crash the party, but absolving all FRN debt would antagonize many foreign countries (in particular, China) which own over half of our treasury right now, most likely into dire conflict. if youre talking about localized measures within a community, thats certainly different. but we simply cant do that very much on any scale unless you were on a remote island with 30 people all using dollars.


I made personal agreements with companies to borrow and to pay my loans back. I have integrity and I will do everything in my power to keep my agreements.

I don't want to hear them tell me any more lies.

Investing locally and buying locally is our only way out of our dependence. Every article on the news is leading people to believe that the government needs to have more and more authority. This is a lie. We need to take the authority away from the government and take on the responsibility.
Get your money out of the stock market and out of T-bills.
I have saved quite a few friends and family from the pain of the falling markets. They got most of their debt paid off, are stocked up on food and supplies, have made investments into silver and gold and are investing in their local communities. This is not a radical idea, rather, it is what needs to be done to get the power away from the few and empower ourselves...

im with you

i made a couple of posts saying just this 2 days ago. We should abandon this phony money and trade locally . forgive all FRN debt immediately. would save the world economy

I'm in! Before we had currency, people traded things they

thought were the equivalent of the service/product they were 'buying'. Why not do it again??

I'm a girk! Chatta me kort please!
New math!
Rolling money bomb

What are you fightin' for?
Caught in the middle?
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rodowers, there was a thread

rodowers, there was a thread on here just a day or so back about unemployed idea's. They, as usual, had alot of GREAT idea's for making extra $. I myself have started researching a couple of them. I'm a MO. boy too!! Springfield area.

I would love to have a Year

I would love to have a Year Jubile

Buy, sell and invest locally.

There is a better way, every body just needs to take all their money out of the stock market and government T-bills, buy food, supplies, silver and gold. Then use the silver and gold to start local businesses and trade. Invest in your local communities and don't lend money to anyone unless you know where they live and can look them in the eye.
Expecting companies thousands of miles away to take care of your money or expecting big government to solve our problems is the act of a fool.

The forgiving of 'debts',

The forgiving of 'debts', public and private was commanded in the Bible. It is called the Fifty Year Jubile. For His documention, you will locate it in Leviticus 25 vrs 10-17. But hey, since when has man kind done any thing God's way?

Again, jzneff - congratulations...

but you don't seem to accept you're in 'good standing' in a fully corrupt financial system...usury included. Clue- this the end game...the Baatan Death March and you're included.

"Give a man a gun, and he could rob a bank. Give a man a bank, and he could rob the world."

no fed income tax is the key

the economy would jumpstart if the people got 25-33% of there$$$$ back

But first...

Can I "borrow" your lawn mower?

Ja, wir koennen!

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Cool Buddy!

so give me your car...

Don't have one

I am a carpenter. All of the work slowly dried up in the part of Louisiana that I am from. I've already lost everything that I had. I have no way of getting any of that back. I paid all of my bills on time and I was responsable. I did not have the foresight to realize that the housing market would stop. I moved to Missouri to try to find work and I can't find any. Oh, and I've never taken a government handout. I did not accept the stimulus check and I've never recieved unemployment. I would just like to be able to have a job again. If the debts were forgiven, people would start building again and I could go back to work. If I could go back to work I could rebuild my life. I don't want a handout from anyone. I don't want any of the things back that I had. Like I said I didn't have the forsight I should have had and I accept the price of that. At the same time though, I don't want anyone to go through what I have.

Not likely

Republicae's picture

Since the entire economy and

Since the entire economy and monetary system depends on credit/debt what do you think would happen? If all debt were forgiven or paid off today then there would not be a single dollar left in circulation tomorrow.



"We are not a nation, but a union, a confederacy of equal and sovereign States" John C. Calhoun


That in itself is a fallacy. There are many sources to refute that argument,

Republicae's picture

Go to the FED publications

Go to the FED publications and read what it says about fiat money and the mechanics of fiat money. It is all based upon a DEBT STANDARD, each dollar must be "borrowed" into circulation, the entire economy can only be expanded through credit...



"We are not a nation, but a union, a confederacy of equal and sovereign States" John C. Calhoun

that's right

I'm not talking about expanding.

Republicae's picture

What are you talking

What are you talking about?



"We are not a nation, but a union, a confederacy of equal and sovereign States" John C. Calhoun

Computer entries

The majority of the money is computer entries. They would not have to physically remove the currency already in circulation. We could continue to use the dollar until we once again had sound money.

Republicae's picture

Every dollar, whether it is

Every dollar, whether it is digital or physical, is created int he very same manner, each is completely borrowed into existence...
It is all based upon the principles of fiat monetary mechanics. Once again, there would not be a single dollar in circulation, whether it is in digital form or physical form since each was created through and depends upon debt.



"We are not a nation, but a union, a confederacy of equal and sovereign States" John C. Calhoun

forgiving debt means all debt

That would include what the USA owes the fed. The money in circualtion does not simply disappear. This is simply a stepping stone to sound money. we could still use the notes that are in physical circulation.

Republicae's picture

Actually, all money does

Actually, all money does disappear, it is taken out of circulation in a direct proportion to the debt that is retired; how do you think the FED contracts the money supply? When the FED retires a Treasury Bond, the money supply is contracted proportionally, the money disappears from circulation, the same process happens when any debt is paid off, that money is taken away from circulation proportionally and the supply contracts. Don't believe me, read any book on modern money mechanics or go to the FED site and pull up publications on what money is, how it is created and what happens to it when a debt is paid off.



"We are not a nation, but a union, a confederacy of equal and sovereign States" John C. Calhoun


If we did what I am talking about we would have gained control of the fed. Therefore we could prevent that from happening. Like I said this would only be a stepping stone to sound money

Republicae's picture

The fact is that this DEBT

Such a "plan" would immediately cause the complete and total collapse of the entire global economy, there would be no commerce, no exchange and you think the credit liquidity crisis is bad now...forgive all debt.

The fact is that this DEBT STANDARD is rapidly coming to the end of its lifespan, just as every other fiat system has before in history, the question is that out of the chaos will the People of this country use wisdom and forethought to reach into our own history and seek to restore not only sound monetary practice, but sound government?



"We are not a nation, but a union, a confederacy of equal and sovereign States" John C. Calhoun