Debt forgiveness is when you just delete the debt. You no longer owe the money. The only loser is the creditor.

@NEETzsche
Then, forgive all debt for all I care.
Lending money with interest destroys societies.

The way to do it is to have a jubilee every X years. Yes, there's a word for mass debt forgiveness, and it's "jubilee." Have one every decade or so.

@NEETzsche @LukeAlmighty

Won't people just run up debt knowing that it'll be erased in a certain amount of time? How do you solve that?

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@Beef @NEETzsche
Not, if noone is willing to lend.
And minimizing the lending in the first place is the point.

I am still in shock that a thing called a credit card exists.

You can game the credit card system by not being retarded. What you do is you get as many of them as you can and you keep track of them with a spreadsheet. Then you buy like one thing with each of them, or use them for their special rewards programs. A lot of them give you like $250 or whatever if you just pay it on time for 6mo. Then you pay all of them on time using your spreadsheet. They are legally required to report how good a boy you are to the credit bureaus. Your credit score goes up. Employers and whoever else use this as a barometer for how reliable you are. In reality, you can be a total scumbag.
@LukeAlmighty @Beef @NEETzsche jubilees were necessary because they also allowed debt to be inherited.
In America, they still try to get you to inherit debt.
@NEETzsche @LukeAlmighty @Beef they can try but they can't really. you can just say lolno and they may take your entire inheritance but they can't sack you with the debt in a legal capacity.

in ex. rome they could and you could have a family that were basically birthright debt slaves.
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