Forum Post: debt

I want people to focus on the imaginary aspect of money. I want everyone to see that money is being used to enslave with debt and steal real land, buildings and other material things from us and to control the services we sell to live. I want people to know that there is the potential to move goods and services by other abstract means than money. ... that money is used to control us and take the products of our labors from us.

I don't want to play the game of the billionaire Wall St oligarch owners and I want people to be less equivocal about the evil of debt peonage. I want want you luke warm people to quit your apologetic bullshit in defense of the system and get on the bus or shut up and get the fuck off!!

If we fail to use an abstract means to oppose evil, a real and violent one will do the job. The outcome has as much probability to improve our lot as it does to make things worse. Try to be less predictably apologetic and loyal to a system that values the freedom to enslave, whether by "agreement" meaning contract, or by more violent means if necessary.

Until there's a consensus about the need for a change, the means is a moot point. We can only continue the enlightenment until a critcal mass of opposition to the evil is achieved. Then a means will reveal itself. At this point, any discussion of means is premature. It only distracts from the need for change that must be repeated over and over until it penetrates the thick skulls of the victims of the system. They remain in denial of the fact that they've been conditioned and socialized as slaves. You can't tell them to rise up and overthrow, by any means whatever, masters that they're too obtuse to know they have.

"Debts that can’t be paid, won’t be. That point inevitably arrives on the liabilities side of the economy’s balance sheet.

"But what of the asset side? One person’s debt is a creditor’s claim for payment. This is defined as “savings,” even though banks simply create credit endogenously on their own computers without needing any prior savings. When debts can’t be paid and debtors default, what happens to these creditors?"

https://www.nakedcapitalism.com/2019/07/michael-hudson-the-coming-savings-writedowns.html