member the Fed - global debt jubilee is due about now (ish) - [PEACE] [MONEY] [FORGIVENESS]

[Zenaan Harkness]

Interesting beginnings of a rebuild of moral standing:

  IMF And World Bank Announce Debt Jubilee For World's Poorest Countries
  https://www.zerohedge.com/economics/action-plan-g20-debt-relief-program-worlds-poorest-countries-being-finalized

    The International Monetary Fund (IMF) has just announced an unprecedented debt cancellation program with the G20 and World Bank for countries that were heavily burdened with debt before the COVID-19 pandemic.
    https://www.imf2020.org/press
    https://en.wikipedia.org/wiki/International_Development_Association

    .. In total, the IMF says debt cancellation will cover 111 countries.

    .. The rollout of a debt jubilee by the IMF and its partners suggests the 100-year debt-super cycle's "kick the can down the road" plan has finally hit a wall.

    Former Assistant Treasury Secretary (in the Reagan Administration) Dr. Paul Craig Roberts has been very vocal about the need for a debt jubilee:

        “The problem is there is already more debt than can be serviced. That’s why they are trying to bail it out by issuing more debt. It’s like kicking the can down the road until it blows up.

        When does it blow up? It didn’t blow up with a $4.5 trillion Federal Reserve balance sheet. Will it blow up at $10 trillion or does it have to be $15 trillion, or does the Fed’s balance sheet have to be the size of the US GDP before it blows up?

        I can’t say that I know, but I do know bailing out debt by creating more debt is not a solution.”
        https://usawatchdog.com/kicking-the-can-until-it-blows-up-paul-craig-roberts/

    ..




Debt cancellation, or a debt jubilee, is a much better option than a temporary freeze on interest payments.

Does this mean the CIA's Venezuela regime change operation is going to be replaced with a debt jubilee?  The list of the first 27 countries does not include Venezuela:
https://usawatchdog.com/kicking-the-can-until-it-blows-up-paul-craig-roberts/

and looking here:
https://www.worldbank.org/en/country/venezuela

It seems that Venezuela's problems are with the USA directly, and so shall continue to rely on the Russian "firewall" to protect itself.

Well, at least some progress on the "moral standing for humans" front is being made, and this is a good thing.