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Boris Petrov's avatar

Support and stand with Russia which is fighting for all of us against corrupt and criminal US “elite” War party.

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David Gosselin's avatar

In reality, as Solon—one of the Seven Sages of Ancient Greece—did when he cancelled the usurious debt that had destroyed Greek society, causing many to be sold into servitude to pay their debts, fake and illegitimate debts can be cancelled with the stroke of a pen.

As Alexander Hamilton made the point, a national debt can only be created if the means to extinguish it are also created ie the state invests on power projects, transport, or agriculture projects that increase the productivity and connectivity of society.

There is also a precedent for what Solon did in ancient Athens, which was named after Athena, the goddess of wisdom. It’s called Glass-Steagall and it was used to break up the private merchant banking houses from the commercial banking system, which is supposed to be in service of the real economy. Breaking up the banks again today would lead to the cancellation of all the fictitious Wall Street City of London funny money and casino economy.

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