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0 sats \ 0 replies \ @elvismercury OP 15 Nov 2023 \ on: _Broken Money_ book club, part 4 bitcoin
Lyn provides a number of examples of debt jubilees through history, codified in different cultures to short-circuit cycles of indebtedness that habitually arise. It's like things get so out of whack that these civilizations tilt the pinball machine and start over from a debt perspective, and this allows the larger system to endure.
As the global monetary situation gets increasingly indebted and askew, could something comparable to a jubilee be attempted? Is it even possible, under the petrodollar? You can see movements toward it happening incrementally, with proposals to cancel student loan debt, for instance, or for UBI, which is not literally a jubilee, but has jubilee-like properties. It seems a proposal that might find broad appeal in an election cycle. What would a larger-scale version of this look like? What would it mean for btc?