Nothing short of a total national Debt jubilee and the destruction of the federal reserve will save the nation!
No matter who “wins” the next presidential election, the economy is not going to survive. Perhaps the whole banking system will fail, sparking hyperinflation like that of the Zimbabwean sort.(Article republished from TLDavis.Substack.com)
People tend to shrug their shoulders or wag their heads at one trillion dollars of debt service, because they know there’s nothing they can do about it. That doesn’t mean that it’s not serious or ultimately the republic-ending consequence of treason. Treason? Yes, treason.
What the elected officials, even those who vote against spending bills, are doing is endangering the national security of the nation, as if there were anything left of it with wide-open borders. When the nation becomes so indebted that it cannot defend itself, it is the same as physically destroying their own military. What good are planes that can’t fly, because there’s no way to get the fuel? No one to haul it? The reason even those who vote against spending bills are guilty of treason, is they know it’s a means of looting the treasury and most of them will tell you outright that it is. Our treasury is part of a money-laundering scheme and when they need more money, they just print it, or more accurately, add zeros to a digital database.
The idea that “Trump will fix it” is whistling past the graveyard. He can’t. The implosion will be on his watch. The only slight thing he might do to soften the blow is to come into office with an axe to all Executive branch agencies, something that will get him impeached immediately for the ironic accusation of harming “national security.”
The only thing that can save the nation, and to a lesser degree the economy, in my mind, is to forgive private debt this time around. The trouble is actually greater than just the economy, it’s the whole financial system of not only the United States, but every nation associated with it. NATO would be frozen in place, a cardboard sign over the doorway. Those nations who use the US Dollar as it’s own currency and those who use it as a reserve currency would be decimated, probably sparking mass revolts and a series of revolutions.
Forgiving private debt would immediately provide a cash infusion without having to print money. That doesn’t mean that it would stave off any drastic damage to the financial system, but that damage is already baked into the outcome. The inability to transfer debt to some other financial institution is better than bailing out one institution to absorb and buy that debt. The stock market plunge alone would wipe out multi-trillions of private assets in the blink of an eye, something that would preclude being able to use private assets to pay off the debt all together. The released funds from private debt could act as a counter to that loss.
Typically, I don’t go for this sort of thing as a matter of principle; a debt entered into incurs a moral obligation to repay it. Our national debt, that threatens the banking system to begin with, however, was not entered into with our consent or every spending bill would have to first garner the support of the people through some means of approval. The average citizen who pays taxes is not allowed a say in how the money is spent, most often against their wishes. They are only allowed, every 2, 4 or 6 years to choose one of the two people who will raid the treasury to shore up campaign contributions, so there is no actual say in that act.
In Deuteronomy 15:1-2 it says “At the end of every seven years you shall grant a release. And this is the manner of the release: every creditor shall release what he has lent to his neighbor. He shall not exact it of his neighbor, his brother, because the Lord's release has been proclaimed.” So, the practice is not unheard of and that act alone was to allow the people to be free of bondage.
What I do find equally immoral as failing to pay off one’s debts willfully and with knowledge of their obligations, is to enslave future generations with debts that were incurred at birth. I find fiscal servitude much more offensive than a one-time absolution of debt.
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