Global Japan & the Problems with a Debt Jubilee
Sunday, August 19, 2012 21:31
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from Azizonomics
Bill Buckler critiques the notion of a debt jubilee:
The modern “debt jubilee” is characterised as “quantitative easing for the public”. It has been boiled down to a procedure where the central bank does not create new money by buying the sovereign debt of the government. Instead, it takes an arbitrary number, writes a check for that number, and deposits it in the bank account of every individual in the nation. Debtors must use the newly-created money to pay down or pay off debt. Those who are not in debt can use it as a free windfall to spend or “invest” as they see fit.
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2012-08-19 21:21:02
Source: http://financialsurvivalnetwork.com/2012/08/global-japan-the-problems-with-a-debt-jubilee/
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