Difference between revisions of "Debt slavery"
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{{concept | {{concept | ||
|wikipedia=https://en.wikipedia.org/wiki/Debt_bondage | |wikipedia=https://en.wikipedia.org/wiki/Debt_bondage | ||
| − | }}'''Debt slavery''' is the pledge of a person's services as security for the repayment for a debt or other obligation. | + | }}'''Debt slavery''' is the pledge of a person's services as security for the repayment for a debt or other obligation. |
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| + | It is alleged that people have so much [[debt]] in western [[capitalist]] countries, that they are never able to in most scenarios pay off, that they are debt slaves themselves, even part of the richest 10% of the population in the world.<ref>https://www.wsj.com/articles/the-upper-middle-class-is-getting-squeezed-11658741402</ref><ref>https://www.cnbc.com/2018/11/07/how-much-money-you-need-to-be-in-the-richest-10-percent-worldwide.html</ref> The engineering of a debt slavery situation is also routinely used against countries<ref>https://agrowingculture.medium.com/slavery-never-ended-366c01458e69</ref> and even, in the context of the [[Great Reset]] - corporations<ref>https://gsh.cib.natixis.com/our-center-of-expertise/articles/ecb-to-decarbonize-its-corporate-bond-purchasing-and-collateral-framework-from-intent-to-almost-immediate-action</ref>. | ||
==Official narrative== | ==Official narrative== | ||
Latest revision as of 13:25, 5 March 2023
 Debt slavery    | |
|---|---|
| Interest of | Michael Hudson |
Debt slavery is the pledge of a person's services as security for the repayment for a debt or other obligation.
It is alleged that people have so much debt in western capitalist countries, that they are never able to in most scenarios pay off, that they are debt slaves themselves, even part of the richest 10% of the population in the world.[1][2] The engineering of a debt slavery situation is also routinely used against countries[3] and even, in the context of the Great Reset - corporations[4].
Official narrative
Wikipedia's page is named "debt bondage".
| Debt Bondage - a form of slavery - UN |
Origin
Nexum was a debt bondage agreement in the early Roman Republic. Within the Roman legal system, it was a form of mancipatio. Although the terms of the contract would differ, the concept of a free man pledging himself as a bond slave (nexus) as a guarantee for a loan was essentially the same. He may also surrender his son as a guarantee. Despite the fact that the bondman may be mistreated and abused, he is still supposed to be exempt from the use of the whip.[5]
Imperialism
People with black skin from Africa were often a deposit for European and American businessmen in the 1700s.[6] Crucial to both East and West Africa, pawning, which is defined as the transfer of rights in exchange for debt settlement, was common during the 1700s. The pawnbroking system was concurrent with the slave trade in Africa.[7][8] Many of the slaves that were exported were men, this was due to the brutal and labor-intensive conditions that favored the male body type. This had an effect on the gendered implications of the pawn system as the number of women being pawned was greater than the number of men, and often experienced sexual exploitation.[9]
2000s
Asia
Despite the differences from the International Labor Organization, 20.5 million people were debt slaves working in Asia alone.[10]
Related Quotation
| Page | Quote | Author |
|---|---|---|
| Edward Mandell House | “the President is to perpetuate the slavery of Americans. By design we have been kept bankrupt and insolvent by an ancient, evil system of pledging. Central Banksters have been profiting at our expense for over 70 years.” | Edward Mandell House |
- ↑ https://www.wsj.com/articles/the-upper-middle-class-is-getting-squeezed-11658741402
- ↑ https://www.cnbc.com/2018/11/07/how-much-money-you-need-to-be-in-the-richest-10-percent-worldwide.html
- ↑ https://agrowingculture.medium.com/slavery-never-ended-366c01458e69
- ↑ https://gsh.cib.natixis.com/our-center-of-expertise/articles/ecb-to-decarbonize-its-corporate-bond-purchasing-and-collateral-framework-from-intent-to-almost-immediate-action
- ↑ https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwjM69SW_cP9AhWT76QKHZAuDiYQFnoECA4QAQ&url=http%3A%2F%2Flocal.droit.ulg.ac.be%2Fsa%2Frida%2Ffile%2F2012%2F11.Silver.pdf&usg=AOvVaw1rnHifCHki642udWl9af6F
- ↑ https://www.hull.ac.uk/work-with-us/research/institutes/wilberforce-institute/projects/debt-poverty-and-slavery
- ↑ https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwiH7JvI_sP9AhWR56QKHSA5CyEQFnoECCsQAQ&url=https%3A%2F%2Fwww.jstor.org%2Fstable%2F43305159&usg=AOvVaw3ixKnQSV790k2OfHI8ZgpF
- ↑ https://www.hull.ac.uk/work-with-us/research/institutes/wilberforce-institute/projects/debt-poverty-and-slavery
- ↑ https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwiljcWu_sP9AhUGxQIHHcEaCYgQFnoECAsQAQ&url=https%3A%2F%2Fwww.scirp.org%2Fjournal%2Fpaperinformation.aspx%3Fpaperid%3D81805&usg=AOvVaw0qS9M1wnmNNZJFfzhm5VQl
- ↑ https://www.youtube.com/watch?v=d2FSPdgEguk
