Politics | March 05, 2009 | 8 comments

Babylonian Tablets Have Answer to Economy Woes

source: http://www.youtube.com/watch?v=3pwAFohWBL4

resolute
Ancient history didn't have housing bubbles and economy woes like we do because of one thing. The creditor forgave the debt when they knew the debtor couldn't pay.

Babylonian tablets show that they calculated how long it would be before the people's debt was so big they couldn't pay it. Then it was forgiven.

The answer to our economic woes is for the banks to forgive the debt its mortgagers can't pay, not to bail out the banks. This will eventually happen when the federal government owns the toxic mortgages.

The financial industry is a parasite that needs some exterminating.

Listen for yourself.
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8 comments // Babylonian Tablets Have Answer to Economy Woes // Video

  • resolute
    • 0
      resolute  

    • The Fed continues to print money and issue credit for people who can't qualify and can't pay what they presently owe.
      Credit is not the solution. Debt elimination is the only solution. Incomes are shrinking by the minute so debt must be reduced to the point where present income can support a payment, and only then will income begin to stabilize. The only way to eliminate debt is to write it off. The US must write down/off bad mortgages so the economy bottoms, and then the rest of the world must begin to write off US debt as it will never be paid. Write debt down now, go to a gold standard that everyone lives by, and in five years you'll have a decent world economy.

    • 2 years ago
  • Stradius
  • SammiKat504
  • resolute
  • cybexg
    • 0
      cybexg  

    • Universal Default - go look up the legal meaning (as used in credit card contracts), then examine your own credit card agreements, then shake in fear and rage.

    • 2 years ago
  • resolute
  • csmonut
  • resolute
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