h a l f b a k e r yBusiness Failure Incubator
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In the world, there is a great deal of
debt. If we believe the people who we
pay to tell us these things, there's
probably too much of it about. What we
need is a release - a holiday - a
jubilee.
First, find a willing participant, one
who has no family, no dependants, no
home, no material
possessions.
Next, treat them to a nice meal - in
return for - and this is the important
part - ALL the world's accumulated debt.
Have suitably watertight documents drawn
up and make a big deal of having them
signed publically. Encourage the
participant to drink wine, eat bread,
and generally enjoy this final supper.
Next, as publically as possible, crucify
the participant - all the debt is
forgiven, everyone starts from scratch,
and the world moves on - if the
crucifixion was particularly unpleasant,
it should make people think twice before
filling out that HP agreement.
Repeat every 49 years.
What is a debt based monetary system?
http://www.simondix...ed-monetary-system/
A quick look at the role of debt in modern economies. [Wrongfellow, Nov 20 2013]
[link]
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You owe me £50, [Zeuxis], remember, what I lent you last week to cover your “accident”. |
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I don’t care if some self-publicist had a nice meal and got themselves crucified. I never lent them £50. I lent YOU £50. You owe me £50. Now pay up. |
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At last, a meaningful role for the Vice-
President ! |
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We think this is entirely reasonable. After all,
what could possibly go wrong ? |
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Why do they have to be willing participants? And
only one is not enough, as there is currently a surplus
of bank executives. |
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Mr Christ, why thankyou! pocmloc, sorry, I lent it to
Jesus, not my problem anymore - though I do feel
horribly and personally moved by the fact that my debt
has cost Jesus his life in such a horrible and graphic
manner, I think I might refrain from borrowing
anything I'm not able to repay in the future. 8thof7
nothing should, or could possibly go wrong - it's
cast-iron. NotationToby, yes, maybe, and yes. Without
some (significant) unpalatableness, there would be no
way to prevent the unscrupulous from borrowing
irresponsibly. RayfordSteele - I think it's only fair
that someone who's going to undertake such a feat of
gruesome endurance to step into it willingly - even
Bank Executives. |
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Would you settle for Congressmen? Or do the gods
not consider that a sufficient sacrifice? |
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No, it has to be a living, thinking human being. |
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This is truly horrible. [+] |
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Oddly enough, West Bromwich District Council did
briefly consider the legality of creating a holding
company to which all debts would be assigned (by
means of a complex series of unsecured loans), and
which would then be declared bankrupt. |
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Did they get the idea from studying the U.S.
Federal defecit ? |
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Good old Robert Maxwell. He himself may
have passed on (allegedly), but his dubious
accounting techniques go marching on. |
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The problem with this idea is that it would instantly wipe out most of the money that exists in the economy, causing a catastrophic shock and leading to a far deeper recession. |
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Does this sound unbelievable? See the [link]. |
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Another way to look at this is that a large portion of the debt is owed, directly or indirectly, to people's savings and pension funds. How will they be affected if the debt is suddenly cancelled? |
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In some financial markets (usually equity markets, rather than debt markets), something like this is already done (without the overt bloodshed). Each trade on the market between buyer X and seller Y is transformed, through "novation", into a pair of trades involving a "central counterparty", Z - so that, instead of X buying from Y, X is deemed to have bought from Z and Z from Y. |
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Z is doing the job of God. |
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If either X or Y does the wrong thing (in the financial markets, the only "wrong thing" is to fail to deliver on the deal - remember the 18th century commentator who said that in the City of London there are no distinctions of religion and "only the bankrupt is called infidel") - anyway, in that event, Z absorbs the immediate loss (not necessarily through the sacrifice of an only son) and, by doing so, prevents a domino effect leading to systemic collapse. |
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The failing party (whether it's X or Y - or both) then has an indefinite period of time in which to face the wrath of the central counterparty, which is presumed to be backed by some large, ugly lawyers, who may or may not use pitchforks. |
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Compare this, also, with the story of King David, who said "Against you alone, o Lord, have I sinned", when you might think he'd sinned against certain other parties. |
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Yes. Also, you see your bank balance? That is a debt owed to you by the bank. Good luck. |
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