Back To The Future

The policy that dare not speak its name is the question of debt cancellation.  That is when all the debts have become too much for the political structure to defend itself, the economy and for the structure of society then the radical but effective solution is to cancel debts wholesale.

Inevitably, there are winners and losers in this, but the winners are the great majority and often the poorer classes.  The losers are generally rich and bent on extraction of wealth and power, so it might just work.

This is not exactly a novel idea.  It is very old.  With a hat tip to Archaeologica and its links this ancient tale is one to consider:

http://www.globalresearch.ca/debt-cancellation-in-mesopotamia-and-egypt-from-3000-to-1000-bc/

Our problem is that the political class and its financial friends would be amongst the losers but they are the ones who determine the policy.  Perhaps there might be a role for an effective monarchy to put things to rights.

Or a more radical solution.