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News Link • Government Debt & Financing

Endgame: When Debt is Fraud, Debt Forgiveness is the Last and Only Remedy

Whatever its name— erasure, repudiation, abolishment, cancellation, jubilee—debt forgiveness, will have to eventually emerge forefront in global efforts to solve an ongoing systemic financial crisis. “On a grand scale the only way to erase counterfeit money and (counterfeit) assets of hundreds of trillions of dollars is to erase the debts associated with those fake assets. (Let me underscore again, these are not “toxic” assets, they are fake assets.)… Forgiveness in general, and forgiveness of debt in particular, stand as virtues if they free us up to acknowledge, address, and learn from our culpability, start anew, and create forward.” ( The Big Squeeze, Part 3: The Quiet Rebellion: Civil Disobedience, Local Markets, and Debt Erasure (January 29, 2011) Debt forgiveness, therefore, accomplishes two important things. It eliminates the increasing and outsized portion of productive enterprise to pay off unproductive obligations, and it clears the ground for new opportunities, new thinking, invention, and entrepreneurialism. This is why the ability to declare bankruptcy is so essential in the pursuit of both happiness and innovation. Currently we are mired in a “new normal” and calls for “austerity” which are nothing more than the delusional efforts of a status quo to avoid the consequences of its own error and fraud and to profit evermore. So bedazzled by the false wealth created by debt multiplication and its concomitant fantasy of ever-higher returns, this status quo continues to be stupidly amazed that people are not spending and that the economy is not picking up. But how could it be otherwise? Productive wealth has been trapped in a web of parasitic theft, counterfeiting, liability evasion, non-regulation, and prosecutorial non-accountability. All the fundamental attributes of a functioning exchange economy have been warped to reward creative criminals. I spoke extensively about this in my posts from 2008.

2 Comments in Response to

Comment by James Eldridge
Entered on:

Thank you Pure Trust. You have helped to open up my understanding about this from with your comment. I had an idea about what you mentioned, but now it is fully clear. Thank you again. I will spread this news around with those few others that want to see through the false lies of this corrupt government and the FED. 

Comment by Ed Price
Entered on:

This idea is only a quick fix, another cover-up.

The word "debt" has clear meanings. All one need do is look them up in the dictionary.

When legal language has a different meaning than common language, and people enter into debt agreements not realizing that the other party is using a different meaning, there really is no agreement. If there is no agreement, is there really a debt? If there is no understanding of how money comes about and is loaned, is there really any loan? Is there really a loan in the case of the Fed and the U.S. dollar even when there IS an understanding of what money is?

When you throw fraud into the mix, there really was no debt in the first place. So how can there be DEBT FORGIVENESS if there is no debt?

This whole idea is a ploy by the big banks and the Government to keep some semblance of control and wealth when the hatchet starts really coming down on them.

Let's call it what it is. It isn't debt. It is fraud, period. The bankers and big Government controllers need to do time!

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