Turns out it was the Romans who stopped the tradition (inherited from near east ie Mesopotamia) of regular debt cancellation and started to require debts to always be in play so to speak. Even if you got sick or crops failed. This allowed the opportunity for Oligarchies to form and these groups became more powerful than governments. In this case they eventually took over society and in the case of the Romans this was through the Senate.

Guess which great power in modern times based their political and debt system on The Romans? USA. Guess what is commonly known to control US systems of govt? Lobby Groups. Who are the Lobby Groups? Large Corporations aka Oligarchs.

Seems to be a connection there. Is regular debt jubilee an option for us in modern times? How would it work?

I'm basing the above on Author, historian and Economist Michael Hudson who breaks down the above insights in this podcast...

https://youtu.be/XyybzneS0To?t=3134

#history #economics #bitcoin #debt #learn #grownostr #interesting #facts #coolstuff #nerds