Starting over financially

I will make this short and to the point. Why wouldn't it be possible for the
entire planet to forgive ALL debt? No one would owe anybody anything.
I am from America and needless to say we are in dire straits as far as
oweing money and being in debt to the tune of trillions and trillions of dollars.
Why couldn't America and the rest of the world forgive mortgage debt,
credit card debt, loans to the banks, etc, etc. I know it sounds like a simpleton
question, and I am sure there are those who will say so. Why couldn't we all
start over somehow if it is at all possible?

Just think of the implications of this. No more wars over money problems.
No more huge amounts owed to other countries. I don't have any idea as to how
this could be done, but wouldn't it be great to think that no one is in debt anymore?



[edit on 18-4-2010 by endtimer]

its funny you brought this up .... in a book on Nostradamus by Erika Cheetham copyright 1973
Century 8 quatrian 28
the copies of gold and silver inflated,
which after the theft were thrown into the lake,
at the discovery that all is exhausted and dissipated by the debt,
all scrips and bonds will be wiped out.

she (the author) thought it was amazing how he knew of paper money 1500's and this was her translation of it...so the may just start over like you said

just one more thing .....there is another thread about the IMF preparing for a finacial meltdown

makes you kinda think doesnt it???

my guess is the problems would just start up again countries are to greedy to let go of debt especially when it gives them leverage over somebody else.

Give me a free house, nothing fancy, under $500k will be fine, and we'll talk.

Seriously, interesting concept. Would never work.

What does the USA and other civilized countries use to buy oil? Oil runs our economies, we have as many people on the planet because of oil and all it's uses.

How does a third world country, you pick one, lacking in natural resources, survive?

If a global economic reset button was pushed, countries such as Russia, Canada, The USA, and several oil producing countries would be winners, again, due to availability of natural resources. Countries such as Japan would be a huge loser. China would need a way to supply natural resources and food not using it's vast financial power it currently has.

This is a great idea, but....

but starting over could also bring us closer to a one world currency and one world govt.

think about???

reply to post by crash override


which is clearly a bad thing

reply to post by endtimer

Why wouldn't it be possible for the
entire planet to forgive ALL debt?

I would be possible.

Just like it was possible for humanity to create debt in the first place. Just like it's possible for humanity to decide to kill itself and each other. Just like it's possible for humans to decide that they're going to plant pretty flowers today instead.

We know these things are possible. But what will we choose to do?

I don't have any idea as to how
this could be done

I would think it would start with a single man.

I've often thought of being president of the US, and enacting change not by proposing bills or issuing executive orders...but by simply talking to the people about how we'd like life to be. Telling people...

"I'm just the president. I can't make you do anything you don't want to, and I'm not going to try. But what kind of world would we like to live in? Today you might choose to foreclose on someone's house. Or you might choose to kill a stranger. Or you might choose to get angry at someone on the freeway and swear at them under your breath. Will any of these choices help you to make this the sort of world you want to live in? What if instead you refuse to foreclose on that house? What if instead of killing a stranger you drop your gun and find a pretty girl and marry her? What if instead of swearing at that car on the freeway, you turn on some music you like and take your time going to work, and what if your boss instead of berating you for being late expresses concern for your wellbeing? We make the world. Let's make choices that will make a world we want to live in."

Of course, one wouldn't need to be president to ask people to consider that.

It just needs to start with one man.



[edit on 18-4-2010 by LordBucket]

alright ....i'm going out on a limb here and i know this is a stretch buuut
Goldman sachs and other top banking institutions are found guilty of scamming us(that aint the limb) and the stock markets of the world collapse and the leaders....the G20 get together and form a new currency that even China cant manipulate.

I dont think a World Chapter 7 or 13
is gonna work either.

Unless we change the system itself and
change the laws, change the people
in power. etc....

we will be right back on that same
road to disaster once more.

I don't think there is a solution
to fix a global meltdown other
than praying God intervenes on
our behalf.

Originally posted by endtimer
I will make this short and to the point. Why wouldn't it be possible for the
entire planet to forgive ALL debt? No one would owe anybody anything.[edit on 18-4-2010 by endtimer]

So I'm guessing you have no problem with your employer not paying you your paycheck this month. Afterall, he/she owes you money for the work you did over the past 30 days, no? And if you hold any bonds at all, I suppose you'd be happy to see their value go to zero.

There is a lot of blame to go around in the current economic mess. Certainly governments, banks, and other shady characters deserve the blame. But you know what? There are millions and millions of people who bought "too much house" at the height of the bubble and then swaggered around smirking to themselves about how financially smart they thought they were. I'm sorry, but I have very little sympathy for the millions who took on massive mortgages much higher than they could afford and didn't bother to read or understand the fine print about rate resets and other troubling matters.

I've scrimped and saved my whole life and always lived below what I could afford, assiduiously avoiding debt. Why should people like me be punished for behaving responsibly while some idiot with a closetfull of khakis bought on fifteen different credit cards and a six-bedroom house full of rooms he never uses get "debt forgiveness"?

I have a lot of sympathy for those who have honestly been screwed over by the system. But there are also millions who are whining and moaning now they can't make the payment on their marble countertops or little Hunter and Meghan's monthly cellphone bills. Let them burn.

reply to post by silent thunder


your right you wouldnt get paid but you would have a house,car,credit cards, payment either and the ones who didnt go in debt would get screwed.

reply to post by silent thunder


I really have no problems with too much these days. It was only a
hypothetical question. A what if, if you will. I guess it is too simple
of a question to really expect much of an answer.

I will try to explain a little better what I meant. I was wondering if we
couldn't just start over somehow. Somewhere back in time, there wasn't
much of a monetary system. I would keep what I have and you would
keep what you have.

I don't mean that our governments would continually pump trillions of
dollars and euro's out to bail everyone out. Since we are all being bailed
out in one way or another, simply erase debt and start over. Sure, a
person would continue to work and get paid from a job. It just would
be that none of us would be in debt to our eyeballs. We could actually
get a good nights sleep for a change. I told you this was a simpleton idea.

reply to post by endtimer

I guess it is too simple of a question

Simple questions usually have simple answers.

Sometimes so simple that they're easily overlooked.

reply to post by endtimer


One of the best ways of "starting over," IMHO, would be to dissolve the Federal Reserve and other central banks in developed nations, as well as organinizations like the World Bank, the BIS, and the IMF. Then break up the "too-big-to-fail" banks. They can be divided into seperate companies. Those that want to take big risks will have to do so with their own money, and those responsible for pensions/investments for ordinary folks would be required to take fewer risks. A few big wall street execs in orange jumpsuits and chains couldn't hurt, either. Then we go about slapping big tarrifs on imported plastic crap from third-world slave states and bring manufacturing jobs back to the developed world, where their workers can expect living wages and reasonable job security. Finally, encouraging a culture where self-esteem is based less on material acquisition would be nice, preferably through a sea-change in media and advertising, but I don't see a way to fairly enforce the latter without impinging seriously on free speech. Oh well, you can't have everything I guess.

According to things I have read, there was a great civilization long gone, whereas all debts were canceled every x amount of years. These same people started all the 2012 fuss.

reply to post by mantic


You are referring to Biblical times when the Jews forgave debt to
everyone. Then they started over again. I am only paraphrasing,
as I am not able to quote the passage from the Bible, but maybe
someone could post that for us. But, you are right about what you said.

reply to post by silent thunder


What about all of us who didn't spend, didn't go over
budget, lived within our means don't have real credit
All us responsible people are screwed cause everyone
Hopped on the bandwagon. These practices were foisted
on people to manipulate the market and concentrate wealth.
Same as any true good to be true scheme 2/3 fall for it and they
Cash in.

I've asked myself this question before, why can't we just forgive all debt? It's not a bad idea. If you think it's impossible, how is it that developing countries have their debt "cancelled" all the time? If they can do it, why not us? If debt is just a number in a computer, press the "delete" button. Free us from debt slavery. If we have to go to war over debt cancellation, so be it. That's something I'm willing to fight for.

reply to post by endtimer

Biblical times when the Jews forgave debt to everyone.
maybe someone could post that for us

Not everyone.

Deuteronomy 15

"1 At the end of every seven years you must cancel debts.

2 This is how it is to be done: Every creditor shall cancel the loan he has made to his fellow Israelite. He shall not require payment from his fellow Israelite or brother, because the LORD's time for canceling debts has been proclaimed.

3 You may require payment from a foreigner, but you must cancel any debt your brother owes you."


[edit on 18-4-2010 by LordBucket]