Page 1

RESPONSETO Tectonics Plate of Technology & the coming Economic Tsunami Article written by Dr. Dorfman

I agree that the structure of this system needs rejuvenation. The quote by Viner, is awesome. Yes a short term approach will still leave us with a system built upon shifting sands. I agree with the author that we need to go to the roots to fix this problem. I agree with the author that a worse financial collapse is on its way. My research has also lead me to consider the problem, and seek a solution. Our current system was established upon the ancient hebrew financial model, which was also used by the Babylonians. However, it has been changed over time, and certain key safety features have been lost. Most importantly, Jubilee. Here is a little background history on Jubilee that I grabbed from wikipedia back in late 08' early 09. As you will read, it is clear their intentions for issuing a Jubilee year..."These Babylonian kings (to whom could be added Ammizaduga[44]) occasionally issued decrees for the cancellation of debts and/or the return of the people to the lands they had sold. Such "clean slate" decrees were intended to redress the tendency of debtors, in ancient societies, to become hopelessly in debt to their creditors, thus accumulating most of the arable land into the control of a wealthy few. The decrees were issued sporadically. Economist Michael Hudson has maintained that the Biblical legislation of the Jubilee and Sabbatical years addressed the same problems encountered by these Babylonian kings, but the Biblical formulation of the laws presented a significant advance in justice and the rights of the people. This was due to the "clean slates" now being codified into law, rather than relying on the whim of the king. Furthermore, the regular rhythm of the Sabbatical and Jubilee years meant that everyone would know when the next releasewas due, thereby giving fairness and equity to both creditor and debtor.[45][46] Hudson therefore maintains that not only was the Levitical legislation a significant advance over the prior attempts to deal with indebtedness,but this legislation was also eminently practical, in contradiction to many Biblical interpreters who are not economists and who have labeled it "utopian."" Most people I've spoken with have objected that our Bankruptcy laws are better suited for this. However, in our "too big to fail" era, and in our times of partiality and complexity of laws, the fair, equitable, just methods for resolving financial woes have been obscured. Jubilee would afford us transparency, and uniformity, and equality. No Jeffery Skilling could ever hide his devious actions in the midst of the scant pages needed to enact this policy, even with our mere 140 FBI agents investigating financial fraud across the USA. haha

A response about Financial Crisis  

solution found at roots of our financial system.