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[–] 22881320? ago 

in total agreement that we do not have a free market. I understand your point about debt and agree with the principal entirely, my point is that the debt - however wrong and evil - is based on contract law and tangible assets are distributed according to agreements. let's consider 2 neighbors: "homeowner" 1 is 15 years into a 30-year mortgage; #2 is a new homeowner and paid 20% down. if a wand wipes out all debt - who owns the home? answer = the BANK (or mortgage holder). the bank will be made whole by wiping out the debt. they own the asset.

Student debt, I agree, is unpayable. It’s a bubble. It’s overvalued. the bubble has to burst. (until 1976, student loans could go into bankruptcy like other debt. In 1978 the usury laws were overturned). If student debt could again be eligible to file (Chapter 13) – if it were legal and simplified, discharging the debt through bankruptcy restructuring leaves the Universities holding the bag – as it should be, because they puffed up enrollment to gain access to Federal grants. Here too, if we ‘wipe out the debt’ – the Universities would be made whole (because student loans are guaranteed) at the expense of taxpayers and paying students. and lawyers will get rich from all the lawsuits.

the debt to wipe clean is Federal Reserve. It makes all these other corrupt debt schemes possible. I fully believe this is coming. repeal the Federal Reserve Act, restructure the Fed - move it into the Treasury, reinstitute asset-backed currency, re-issue US Dollars (fungible) and burn up the devalued US Treasury Notes. interest rates across the board will have to be reset. all debt will be re-engineered, moreover assets will be re-valued.