The debt jubilee won’t be called a jubilee, it will be called “inflation.” From Nick Giambruno at internationalman.com:
Four thousand years ago, the rulers of ancient Babylon discovered a technique to stave off violent revolts.
In ancient times, there was a tendency for people to become hopelessly in debt to their creditors. Eventually, they would rise up and cause instability that could threaten the entire ruling system.
The rulers of the ancient world recognized this dynamic.
Their solution was to enact widespread debt cancellation—a debt jubilee.
Debt jubilees acted as a societal pressure release valve when there were no other options.
The practice spread in the ancient world and became codified in different civilizations.
For example, the Book of Leviticus recognizes debt jubilees as the end of a 49-year biblical cycle—seven cycles of seven years.
I think this ancient practice will make a big comeback soon as government, corporate, and personal debt have all reached unbearable levels today.
In fact, the debt jubilees have already started… and the investment consequences will be profound.
And just in time a Eurasian WAR.
Coming soon-Zimbabwe/Weimar wallpaper wheelbarrow and then CBDC.
The taxable unit serf peasants will bleat out…muh convenience as they line up for their collars.
Don’t be an Abby Normal, go along to get along, comrade.
(honk!)