Why not just forgive all debt and have America start on a fresh debt free base for a whole new era?

debt is a zero sum game. If you forgive the debt for someone, the person or institution he owes the debt to gets screwed. If your employer owes you 6 months in wages and then bankrupts, who gets screwed? You do.

For America to forgive all the debt, that would mean that all forign investors and national banks would have to forgive Americas national debt also.

I dont belive that will happen.

As many people belive that the banks have made there own mistakes and should perish, why don't they belive that the good ship USA should go the same way?

What if the world decided to cut its losses and ditch the US and trade for oil in euroes or an other alternative currency?

I think it will happen globally -- once the truth comes out en masse.

This is the age of revealing; partial truths won't be tolerated any longer, and once the people learn the truth: that THEY are the collateral they're using (literally -- your current and future work IS the collateral they're using; tied to your birth certificate which has been bought by some investor), among many other lies, we will have no other alternative but to scrap the financial system and find something beneficial and transparent to us all.

It should be a worldwide forgiveness of debt and then launch the New Jerusalem
[link to www.alphaomeganewjerusalem.com]

and a world bank.

This does not seem like rocket science. It seems like the right thing to do.

Not a bad idea- "forgive us our debts as we forgive our debtors"

Okay, banks we'll loan you 700 gazillion dollars- cancel our student loans, mortgages and card balances!

melchezedek comes and proclaims a JUBILEE

Wouldn't financial firms also be forgiven for owing us our savings and 401k balances?

Yes, all debt `would have to be forgiven. You can't start being selective about it.

Thats why it wont happen

"JUBILEE"

God wants us to build New Jerusalem. Unite all nations, have a world bank (the NEW JERUSALEM WORLD BANK)for your SAVINGS not DEBT and everyone live in peace and build your technologically advanced green society and build our space program so that we can get on with exploring the universe

It is my understanding that the Hebrews were accustomed to clearing debt every 7 years.

They seem to be doing well....

Anyone else know of this concept? Is it Jubilee?

It worked for the Maya!

Everyone could keep their savings because faith in the New Jerusalem world bank would back it. We just create the proper money supply to cover everyones savings. We can create as much digital money that we need to keep society from falling apart. Just wipe out all debt for the New Jerusalem jubilee Kingdom of God.

I bet the people would love it.

Works for the muslims.
worked for Iraq.
Sounds good to me!!

Knowing all you know now, would you ever borrow money again?

EXACTLY.

And when more and more people research that truth, they'll have no choice but to see everything that's going on as the true farce it is.

But most people here seem to ignore any mention of THAT truth; makes me wonder just how "awake" the so-called "awakened ones" truly are...

Obviously, they still have a way to go.

"Is it Jubilee?"

It is jubilee if the people choose to build their New Jerusalem jubilee kingdom. If they go with the Bush banker plan to reorganize the debt and keep everyone in debt and in a multiple religious war filled society then you will be headed for a depression debt type society with continued war and suffering.

Go with building the New Jerusalem ideology and you will have a Jubilee

Bush bankers or Spirit of Truth?
Debt or Jubilee?

The choice seems easy

The fascist pieces of shit tried to use derivatives to buy the planet and they got owned.

EXPERTS PREDICT MONEY CRISIS



A Little-Known ?Derivatives Debt Crisis? Poses Threat to Entire Financial World

By Christopher Ruddy

Could the U.S. housing recession and recent events in the stock market be early warnings of something even worse to come?

Until recently, the U.S and global economies had been roaring. In the last two years, the Dow went up by a huge 30%, and many commodities are up by 20% to 50%. Also growth in several Asian countries?notably India and China?has been simply amazing, up by 9% to 12% a year. And until recently, real estate was also booming in many parts of this world, including the United States, Europe and Asia.

This broad-based global boom would be great news for everyone if it was the result of natural and sustainable market forces, such as a growth in savings and increasing economic innovation.

But is the mother of all financial disasters on the horizon?

Unfortunately, there is evidence that this global boom is anything but natural and sustainable, but is really the artificial result of a global liquidity bubble?
a bubble that could now be on the verge of bursting.

In this global bubble, literally hundreds of trillions of dollars in leveraged debt are at risk. It?s no secret that in today?s society, everyone from the family next door, to major corporations, to the U.S. government is deeply in debt. But while some debt statistics are widely reported, such as our $8 trillion national debt, other debt figures are never mentioned.

There has much discussion of Uncle Sam?s enormous, unfunded liabilities?including mandatory Social Security and Medicare payments, government and military pensions, interest on the national debt and other hidden-but-very-real government debt.

Altogether this debt totals an incredible $60 trillion to $65 trillion?or about $500,000 for every U.S. family. It?s doubtful these obligations will ever be paid and even the attempt to do so could plunge our economy into hyperinflation.

That?s scary enough and raises lots of reason for concern, as more Baby Boomers retire and this debt comes due. However, the above unfunded mandates are dwarfed by little-understood but truly colossal derivatives debt which now totals over $345 trillion?about nine times the Gross Domestic Product (GDP) of the entire world.

COMBINED DEBT

Derivatives are debt based on other debt. For example, banks commonly package groups of home mortgages together and sell this combined debt as Residential Mortgage Backed Securities (RMBS). Banks in Japan and China are major purchasers. Unfortunately, each time debt is repackaged and resold, it grows, in some cases exponentially creating an enormous, global pyramid of debt thousands of times greater than the value of the underlying assets.

Now the $345 trillion question is, ?What happens if the underlying assets upon which all of this pyramiding debt is based decline in value?? Moreover, ?who gets stuck holding the worthless hot potato of uncollectible debt??

That?s not a trivial or unimportant question. If the assets that all of this debt are based upon ever fall, the entire global derivative debt pyramid would begin to collapse, potentially taking much of the world?s financial system along with it.

If you?ve never heard of derivatives before, join the crowd. Less than one person in 100 has ever heard of them, and even fewer understand them. But what you don?t know could destroy your finances, and what?s particularly worrisome is that the derivatives debt pyramid may have already begun to collapse.

Christopher Ruddy is the editor-in-chief and CEO of Newsmax magazine. For more information visit www.newsmax.com.

(Issue #28, July 9, 2007)

hi op
me tel u now
revult in oktober
me cee fites
long wintr

The people should not let these bankers scam them into wars

I totally agree! In a week ir two so we can use our credit cards as a bonus!WE OF ALL POEPLE DESERVE IT!!!!!!!!!!

Talk to you later. Think about having a New Jerusalem debt free world wide jubilee
instead of a Bush/Bernanke banker reorganized debt multi religion neverending terror war sick depressed society.

It's my understanding that the traditional way of doing things in China is to make sure all the debts are paid off before the New Year begins. That way you start the year off fresh!

There is a way to buy a house without taking out a mortgage-it's called a land contract. Or sometimes called "renting with option to buy" Not legal in every state. You make an agreement with a property owner to pay for the house over time. When the money has been paid, the owner signs over title to you. The flaw in the system is the agreement isn't binding upon the death of one of the parties. So unless the property owner is willing to leave a house to you in his will, his property forfeits to the heirs and the buyer may have been paying money for nothing.