I think it's probably debt write offs that we need

If you give eaveryone ?500 we'll be happy for a few days but once the hangover / holiday memories have gone we're back to square one. Very few will pay down their debts.

But writing off debt means accepting that we (at the Big Business and Governmental level) aren't as rich as we think, so that's not going to happen. So we'll print money to help people and countries service debts that will just increase and increase.

It needs massive debt write-off at a personal and national scale, coupled with systematic change to make it harder to repeat the cycle (and by that, probably moving away from fractional reserve banking and moving back to gold standard or similar).

But because the vested interests don't want to let go of their assets (being owed money) and we as individuals don't want to cut living standards, that is never ever ever going to happen.

The best we can hope for is the odd period of hyperinflation to re-set the game before the merry-go-round all starts again.

Posted By: CWC, Jan 7, 16:39:24