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Re: Jubilee
Quote:
Originally Posted by sebastian_dangerfield
Write it down. Disavow all sovereign debts owed to foreign holders, let them do the same regarding all debts we owe to them.
Full reset.
Who'll get slammed? Rentiers.
"Sorry old boys... This is what's called a 'reset.'"
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I wasn't thinking of foreign holders and I wasn't thinking of rentiers. I was thinking about domestic entities that lend money as a business and hold a lot of loans. You know, like a bank. Your plan is that they just all go bankrupt?
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“It was fortunate that so few men acted according to moral principle, because it was so easy to get principles wrong, and a determined person acting on mistaken principles could really do some damage." - Larissa MacFarquhar
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