Almost all of the new debt created and distributed by central banks to basket case economies like Greece etc. goes “poof”.  Those individuals and organizations like the IMF who invested their money in Greek etc. bonds, especially when they were in excess of 20% take a percentage “hair cut” equivalent to the amount of return on their investment. In other words if you invested in bonds at 20% 5 years ago your investment goes “poof”. Then, a “modern debt jubilee” needs to be implemented in virtually all advanced economies.

All countries involved in the restructuring will need to stabilize their economies by implementing and distributing an 18 years and older universal monthly dividend over and above what they make via employment and a rebated discount at the point of each business model’s retail product.  The resulting universally distributed wealth and income creation will have a downsizing effect on the necessity of new credit creation for further investment and growth, and intelligent regulatory changes to Finance in the interests of valid economizing like the elimination of compound interest and the replacement of it by simple interest mark up at point of sale will finally bring monetary, economic and human wisdom to these systems and an end to the era of excess, exploitation, manipulation and human bondage characterized by the monetary paradigm of Debt, Loan and for Production only.

Underdeveloped/poorly developed countries need to wake up and die right by proceeding to do so with the above policies in effect at levels that reflect their present productive capabilities in as intelligent and socially beneficial means as possible. Developed countries need to do the same in as socially and ecologically enlightened fashion possible.

The helping professions, the clergy and the government need to ally themselves in the effort of communicating and raising awareness of the individual to the multitude of positive, constructive and fulfilling purposes available to them in addition to employment…..the better to mature and fulfill themselves and the culture as a whole.

Take a new revitalizing breath, smile and carry on.

Steve Hummel 03/18/2017