“The Obama administration moved to
block a bankruptcy court from erasing federal student loan debt, saying such an
allowance would jeopardize the fiscal stability of the loan program.U.S.
Department of Education attorneys, intervening in the case of a 65-year-old man
seeking to erase his student loans in bankruptcy, filed a motion urging the
court to stand firm with borrowers who claim they are in a dire financial
situation. Attorneys argued that Robert Murphy of Massachusetts, unemployed and
of retirement age, has plenty of chances to go back to work or hit the
jackpot.No student debtors should get a break unless there is a "certainty
of hopelessness" with circumstances that have a "total
incapacity" to change, court documents said said…”
I find this to be
unacceptable. Here’s my take on this:
We have been programmed as
a society and as individuals to place value in paying off debt. This needs to be done away with. Debts should not have to be paid off,
period. Why so? Because this places the responsibility of
due diligence on the lender and not the borrower. If debts do not have to be paid off, then that is great. No more lending. Fine. That means that
inflation would be ended once and for all.
Why do we have inflation?
Through the creation of debt of which brings new money into the system
of which pushes prices up. Had we no
debt, there would be no new money to push prices up and thus we would live in a
world where everything is drastically less expensive. College tuitions, in this case, would be virtually free on
today’s standards just through the elimination of debt. And how do we eliminate debt? Easy, just pass laws that enable borrowers
to not have to pay any of the debt back.
Period. End of story. Power has now been transferred back to the
people and inflation is a thing of the past.
Sounds easy? Sounds quixotic, perhaps? Sounds criminal even, right? I mean, no one has to pay off his or her
debts? What kind of a responsible
society passes laws where debts do not have to be repaid, or at least debts
only have to be repaid if the borrower has the means of which is at the
borrowers discretion, and not the courts?
Seriously, we don’t need bankruptcy laws. We just need to pass laws the lets borrowers off the hook for
repayment of debts at their sole discretion – and bam: Everything changes and
power is transferred to the people.
You see, our entire
monetary system is founded on debt and the repayment of debt. No repayment of debt and the whole system
comes crashing down, and for good reason.
Do we really need to be straddled in trillions of dollars of debt? Is this really serving any practical purpose
other than to make those who print money to loan wealthy beyond our wildest
imaginations?
We don’t need debt. We don’t need to be in debt, and once we
wake up and realize this and pass laws relinquishing people from having to pay
back debt altogether, then we will be in a position to expand ourselves and our
society and world from the starting point of actual real physical substance and
productivity, because money would then be based on what is physically here and
able to be produced with our hands, and not imaginary numbers on a computer
screen that we have pay back from our future productivity, as it is now.
How would we finance
college with no debt? Oh my, this is so
hard to imagine for most of us now with our pre-programmed mind-set of “debt is
good and necessary”. But, let's just
take a minute to imagine this. First of
all, tuition and basic needs would cost about 1 cent on the dollar based on
today’s prices. That’s right,
everything would be about 99% off. How
does that sound? Don’t believe me? Just check the value of the US dollar 100
years ago before our central bank experiment began and see for yourself.
Now, do you think you can
manage on 99% off tuition and basic needs?
And if you still need some money, then it would not come in the form of
debt, because no one would lend $ if borrowers didn’t have to pay it back, but
it would come in the form of grants, gifts, and scholarships from others with
money who want to invest it in ways that are best for all and benefit all. And that’s it. It’s simple.
And here’s another form of
a grant: A living Income
Guarantee. That’s right. Because it is best for all for all to have
basic needs covered regardless of circumstances- those with money that see this
and also understand the Universal LAW of give to receive, will be happy to
give. So, with a Living Income
Guarantee, many people would not even go to school in the first place, let
alone borrow to go to school.
We need to get our reality
checked. We need to start realizing how
we have limited ourselves by disobeying the Universal Law of “give to receive”
and instead traded up with the “curse of debt and growth through debt and
inflation”. We need to start thinking
about grants of which come from the wealth of our efforts and ultimately the
fruit of our labors with and of the earth, of which we are all made of, that
would be freely given to others so that we can all become all that we can be so
that we can then give back to all, of which creates a world of giving and
receiving – where everyone is wealthy and the idea of debt is a laughable thing
of the past back in the days when we are all barbaric crazy fools. And we need to get away from the antiquated
notion that wealth comes through debt and that somehow we are “dead-beats”
because we don’t pay off our debts or are unable to pay off our debts of which
should have never existed in the first place if we had our priorities straight
about what really matters and about how to create real wealth and a world that
is best for all.
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