Years ago I said we were headed towards the worst financial collapse in 500 years. I might have underestimated how bad things will get within the next two to three years. Summing up my previous thoughts. Economists can predict how bad a Depression will be based upon the amount of outstanding Unpayable Debts that are due. These debts by definition will never be paid and therefore must be cancelled.
There are 3 ways to cancel unpayable debts en masse. One would be making debts smaller through hyperinflation as Germany did in 1923. Another would be to walk away from debts by discharging them in bankruptcy court and in foreclosures as America did in 1933. Because Western Central Banks like the Federal Reserve system do not allow us to have money unless we have a debt, our money supply was reduced by 31% from 1929 to 1933. If you discharge a debt, the corresponding money in a checking account evaporates. And that decrease in money caused the Depression which starved at least 3 million Americans to death. The Third way to cancel Unpayable Debts en masse is the only painless one. It was called the Jubilee by the Bible Writers. It was copied from the Babylonians who learned it from the Sumerian kings who cancelled debts starting some 4,400 years ago. There is no evidence that either Israel or Judah practiced the Jubilee.
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