Jubilee ! Total forgiving of all debt.

[Oleg Bach]

You beat me to it! I was just typing a post saying just this.

I love reading Oleg's posts - infact they are the only ones I read. Looking at things from an ancient point of view - money lenders if left to rule the roost destroy the chicken coup - It's like milking cows...You can milk them once a day - even try to milk them three times a day - but when you milk them all day long - they fall down and die. There are limits...as Uncle Leo said to me at my mother funeral - as the 85 year old poured hims self a triple whiskey " a man must know his limit" Greed is a human factor but there must be limits on it - What is happening in America is that greed had no limits...and now greed has reached it's limits - but instead of putting down the bottle - the greedy are pouring another triple.

[eyeball]

Ugh. You made me read one of Oleg's posts.

What people forget is that one peron's debt is someone else's asset. So wiping debt - especially government debt - means you are wiping out the wealth of all those people who saved money and lent it to government. This includes a lot of people of modest means who invest in GICs or depend on a defined benefit pension plan or even hold insurance policies.

In other words, the plan is not just naive - it is absurd.

Nonetheless, something has to give if we're to expect any hope of a peaceful push on the economic reset button. Above all else though is the expectation that income gaps can continue to expand while natural capital continues to shrink.

That's not just absurd - it is delusional.

[dre]

That was my lead up question. The real question is this - In so far as huge national debts are concerned - when the debt and the interest is paid on loans - who are the individuals who recieve the money? They must have names - They must have faces - who are these individuals in the what looks like the eternal position of collectors. I wonder - if we were to name all these human beings - and then have a conference..could we come to a real solution too global fiscal meltdown? Why do we not take this approach? Certainly the tillions that are owed to China...must be owed to individuals in charge of governments and lending companies --------Lets try to put a face on this problem and deal in the fashion of human vs. human rather that a population dealing with what seems to be a mindless self destructive machine or beast.

Yes those people do have faces. They are everyone from hedge fund investors, to pension managers, right down to little bobby on the next street that bought a $50 dallar savings bond with money he got for his birthday.

Since you mentioned "china" and "trillions" I assume youre talking about the US... Well its worth pointing out that about 1/2 of Americas national debt is held by US citizens, and state and municiple governments.

There would be hundreds of millions of people at your conference

[Oleg Bach]

Yes those people do have faces. They are everyone from hedge fund investors, to pension managers, right down to little bobby on the next street that bought a $50 dallar savings bond with money he got for his birthday.

Since you mentioned "china" and "trillions" I assume youre talking about the US... Well its worth pointing out that about 1/2 of Americas national debt is held by US citizens, and state and municiple governments.

There would be hundreds of millions of people at your conference

I don't think so - not to sound conspriatorail, but there are situations where one seniour old lawyer who is also influential in the banking community - controls a few hundred companies - these types are low key...and avoid the public eye - If there are a few of these people in Canada - then they also exist else where _ I don't believe that there would be millions at "MY" convference..there might be a few hundred - G 20 types who are public are just front men and dupes - the real big dogs never step forward - they manipulate from the side lines - as one guy said "I lead by following"..

Those with the type of power I describe should step forward and make the adjustments - buy they won't - they are private people - and the best personal security you can have is non-existance...so that's a problem - the big clever dogs are all hiding in the bushes.