But haven’t so many people had their pensions just ‘wiped out’? That wasn’t their fault.
I’m not saying that it’s the right idea but maybe it might become the only idea left? Why should a country or a bank have their debt wiped out and not individuals? It’s not right as it does go against all those who have lived within their means but then maybe when everyone is shown on these charts as an ‘individual’ owing money on behalf of their country why not just go back to zero for everything?
As you say angie, wars have been started for less
People have had their money wiped out because we do not have sound money. With real sound money that couldn’t happen because of wasteful nations wouldn’t be in control of the monetary system. You could still loose money on bad investment though.
Countries or banks doesn’t have their debt wiped out per say it’s only that their is no value “in the nations case they just make the debts worthless by ruining the currency so the lenders get back pieces of toilett paper” in the banks so the people has to become “owners” of the bank to secure the whole banking system. Or that’s at least what these people with vested interests have told the politicians. This sends the signals to the banks that no matter how bad they act they will always be bailed out.
If you want to study an example that did the opposite of what the banksters and the experts wanted them to do then you should look at Iceland. They seem to be doing quite ok.
Interesting article on Argentina. http://www.cato-at-liberty.org/krugmans-love-affair-with-the-kirchner-model-in-argentina/