If you are onboard with existing financial systems collapse hell yeah! Considering we’re headed that direction anyway with a less favourable outcome more likely 😅
Only if the people have to give up whatever assets were purchased with said debt otherwise you’ll still have a class of people with much more than everyone else since billionaires purchase almost all of their things with debt, not with their own assets.
3 Comments
Blurntout@lemmy.ca · 4 pts · 106d
If you are onboard with existing financial systems collapse hell yeah! Considering we’re headed that direction anyway with a less favourable outcome more likely 😅
teft@piefed.social · 2 pts · 106d
Only if the people have to give up whatever assets were purchased with said debt otherwise you’ll still have a class of people with much more than everyone else since billionaires purchase almost all of their things with debt, not with their own assets.
cmbabul@slrpnk.net · 1 pts · 106d
This used to be done regularly even in feudal societies, it can and should be done