I understood the original comment to mean everyone’s debt is zeroed at 50 year intervals, e.g. 1900, 1950, 2000, etc. regardless of when it started.
What you are suggesting is all debt is zeroed out 50 years after it’s issued? Then why would any borrower pay off any principle at all?
This whole jubilee thing makes no sense, may be a little bit if the jubilee happens unexpectedly so that people can’t just plan around it. But that kind of sort of happens after a war.
What you are suggesting is all debt is zeroed out 50 years after it’s issued? Then why would any borrower pay off any principle at all?
This whole jubilee thing makes no sense, may be a little bit if the jubilee happens unexpectedly so that people can’t just plan around it. But that kind of sort of happens after a war.