On Wed, Mar 27, 2013 at 1:28 PM, Joe Niederberger <firstname.lastname@example.org> wrote: > > Kirby Urner says: > >Just to take the opposite view for the sake of (possibly useful) debate: human civilizations are often destroyed or on the brink of destruction because of the institution of debt coupled with interest. I've been reading 'Debt: The First 5000 Years' which makes clear the driving force > that is 'debt' in this world. > > Opposite? Suppose debt in fact destroys modern civilization - did not understanding exp make that happen or did understanding it all too well do the job? > > Cheers, > Joe N
I'd say because only a tiny minority adequately understand exp, humanity is at their mercy more than it should be.
If more people had a strong grasp on exp, it would be harder for the 1% to siphon money so effectively.
Neither the 1% nor the 99% are actively trying to destroy civilizations (usually), just that it keeps making sense for the 1% to squeeze the 99% right through the breaking points, past the point of no return.
A traditional response of deeply indebted nations, just like people, is to take a "nothing to lose" attitude and declare war on the status quo.
Meanwhile the lenders need to impose their right to collect and will treat those who default as examples to others who might be thinking about it.
Those who aren't "credit worthy" have to beg for pennies (and if you get 5, you must return 6). Either that, or they jump a ship to America and start a new life beyond the reach of the loan sharks.
Related (old manifesto-style writing published in Electronic Frontier Foundation CyRev journal, 1995):