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General News 9/8/2015 at 5:46 PM EDT

Infographic: A History of Debt Forgiveness and Relief

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Scott Baker

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Debt Relief has a long and honorable history. It was the foundation for the Jubilee mentioned in the Bible that wiped out debt every 49 years (see also, John Kelly's book: The Other Law of Moses). Debts used to die with the King, then they vanished when corporations, which used to have finite lifespans, went away. Now, they are supposed to go on forever, racking up more interest with no end in sight.
Odious debts are unpayable, and austerity kills any possibility of a country or its inhabitants earning enough money remaining in circulation to pay off their debts.
Here's what we could do instead:

Read the rest of the story HERE:

At www.yesmagazine.org

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Scott Baker Social Media Pages:

Scott Baker is a Managing Editor & The Economics Editor at Opednews, and a former blogger for Huffington Post, Daily Kos, and Global Economic Intersection.

His anthology of updated Opednews articles "America is Not Broke" was published by Tayen Lane Publishing (March, 2015) and may be found here:
http://www.americaisnotbroke.net/

Scott is a former and current President of Common Ground-NY (http://commongroundnyc.org/), a Geoist/Georgist activist group. He has written dozens of (more...)

Related Topic(s): Debt; Debt Ceiling Crisis; Debt Exposure; Debt Monetary System; Debt Slaves; Debt-free Currency; Debt-to-gdp Ratio, Add Tags

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