Charles Hugh Smith: The only real solution is default
The destruction of ‘phantom wealth’ via default has always been the only way to clear the financial system of unpayable debt burdens and extremes of wealth dominance. Every default is a debt jubilee for the borrower. Beware, though, of the state swooping in and passing the losses onto the taxpayers via bailouts / transferring the […]
The post Charles Hugh Smith: The only real solution is default appeared first on DollarCollapse.com.
Source: https://www.dollarcollapse.com/charles-hugh-smith-debt-default/
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