Debt slavery

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.

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.

Imperialism

People with black skin from Africa were often a deposit for European and American businessmen in the 1700s. 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. 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.

2000s

Asia

Despite the differences from the International Labor Organization, 20.5 million people were debt slaves working in Asia alone.

 

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

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