All Hail Greek Debt Repudiation!

You'll find the few young people who manage to find a classics program in which to study bewilderd at how, when studying the ancients, we have seen all this before.  Just so.

The reason Latin and Greek studies are being starved is just that reason, today the exact same scams are being run that were run 100 times before.  And the solution is exactly the same....  Since the Greeks have seen this 100 times before, they are the first to do the obvious, and that is repudiate the debts their abusers claim.

The single most influential event in the history of finance occurred shortly after the great Athenian lawmaker Solon was elected archon, or chief magistrate, in 594 BC. Solon instituted a debt reform law called the “Seisachtheia” or “shaking off of burdens”.  This cancelled all debts, freed those that had sold themselves into bondage to work on their own former land when they became bankrupt, and reallocated the land back to the families that had held it since the foundation of Athens.
Syriza’s policy in Greece today can be seen as a Seisachtheia for the modern age. There has been much discussion of how Syriza intends to cancel Greece’s debts to foreign governments. What is less widely appreciated is that Syriza has also discussed cancelling the debts of individual Greeks to each other. Indeed, there appears to be some evidence of Greeks already deliberately falling behind on their mortgages and other debts, anticipating Syriza cancelling them.

Read on for more on usury in this.  Note that the Greeks will be repudiating the debts they owe to each other.  Very good.  The sooner the slates are wiped clean the sooner the reconstruction begins, hopefully with a change in the patterns and practices that led to these baleful results.

All of this harm flows from the lending of asset-free credit at interest.

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