If on a worldwide basis, all lenders reduced every debt by 50% and all borrowers then paid off their loans within 7 or 14 years , I suspect failure of al international monetary systems would be prevented. Doesn't this options sound much wiser than war and 1 world currency system which would be incredibly stupid? If debts are not chopped in half by the lender voluntarily soon, the majority of lending and borrowing systems most likely will collapse financially within a few years.
High usury (interest) rates charged to borrowers has become sin that is rather simple to repent of once the lenders hoping to be forgiven reduce principal debt by 50%.
Pension funds should not be considered as lenders nor borrowers and should be paid out to retirees according to the 'negotiated' deal upon retirement.
( I did pass college economics at the University of Wisconsin.)
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