As a pleb with a pocket calculator I can work out that our current growth-to-survive and money systems will fail within about 30-50 years. We are hitting the top end of an exponential rising curve, the part where it literally starts going straight up.
We are still told that we need world wide growth to solve the recession problem. Europe has just allocated nearly 1Trillion Euros to “lend” to EU countries. The US needs even more trillions to keep going. All over the world every country is saying “we must export more to solve the debt problem” Who to? Is the pertinent question. Who is going to buy all these products?
The start of the answer to the question has to be a personal, national and international Debt Jubilee or Global Default on loans if you prefer. Currently money is out of control, there is not enough money neither will there ever BE enough money to repay all these trillions of global debt. There is of course a downside to global debt default when using current thinking – it would wipe out our banking systems and our means of paying for everything, even water, food and heat the necessities for life.
So a controlled way has to be found
“Personal / internal” (The Engro/Scotro.Welshro/Frenchro/Greecero, Amero) money and “business / Investment” (The Pound, The Euro, The Dollar etc.) money separation. For this discussion I will use the Engro and the Pound.
The debt jubilee has to coincide with the introduction of something like the Engro and the removal from commercial banks of the ability to create the local Engro money that is used for general trading within a countries borders This right should return to government owned central banks who can create debt free Engros i.e. it does not have to be borrowed into existence and they never have to be paid back except as taxes. It is simply created and credited to accounts as needed. I think this used to be called “the money supply” and was controlled to avoid the situation that we have now. The Engro would be exchangeable for The Pound only (International business money). Which are exchangeable for Euros/Dollars etc.
Tomorrow: Inside a country on the Debt Jubilee Day (DJD) must award it an acronym .