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Thursday, August 12th 2010

6:19 AM

I Went Yahooing Again. Time for a Mass Jubilee Forgiveness of Debt.

Bookmark and Share I went to the Yahoo Finance board and posted this:

The banks are not putting these houses on the market, so people who want to buy can't. This is a giant theft on the part of the banks.

Give a jubilee forgiveness of all debt for those making under 250k per year. Do so in Europe and in the US by taxing or confiscating money from the top 1 percent. Take trillions, put it in an escrow account to keep this top 1 percent banks they own from failing and give a jubilee. Most of the money will go back into those banks and back into the businesses these 1 percent own anyway.

Old Israel had a jubilee every 50 years. There should be a law for a jubilee after every housing bubble, and it would stop the banksters from screwing mainstreet.

Fact is, we have to do something. We cannot have a wounded mainstreet in Europe and in the United States and expect the world to recover. This will slow China, the engine of world production these days and the engine of world consumption, the US and European consumers will not be able to keep up with the demand. We must have debt forgiveness.

We could put the money in an account, and we could protect the key assets of this top 1 percent. They would never miss the money. And they would end up making much of it back. Otherwise, this economy will go the way Marx predicted. Marx didn't see a middle class rising. But that middle class is in jeopardy! Will Marx have been proven right about capitalism?

The government needs to fight against the New International Order, not embrace this financial thievery! Only then will all people prosper.

Wake up governments and smell the roses. Or should I say smell the foul stench of broken, crony capitalism And are you listening Larry Kudlow?

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