Debts that cannot be defaulted/declare-bankruptcy are defacto slavery.
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As with all things, we must refer to the Bible. Every 7 years the OT Israelites had a Jubilee where all debts were forgiven.
This debt-forgiveness of the Jubilee did several things, but most importantly it kept debts in check and it reset society. OT Israelites couldn't make extravagantly large loans that would exceed the seven year Jubilee because the remainder of the debt would be forgiven.
These Jubilees reset society to an even playing field. Each man of the nation became just as debt-free as the next.
-Society resets are necessary because if oligarchs begin to concentrate the wealth, it comes at the cost of society. The oligarchs make their money by fleecing everyone else. In the beginning of societies, wealth disparity between the poor and the rich is not so great, but over time the gap widens until the majority of the society is in debt-slavery while the rich sit on their piles of treasure garnered from the enslaved masses. This exact thing happened to Rome.
-The Romans tried to do land reforms and society resets, but every single time the powers of the aristocracy, the oligarchs, and the politicians would prevent reforms from happening. And over time, it became impossible for the average Roman man to garner a modicum of wealth for himself or to even buy land, because the oligarchs held both the wealth and the land.

- And honestly, a debt-forgiveness Jubilee is exactly what we need in America now for student loans, credit loans, etc... in order to reset America. (Plus getting rid of all the non-White beasts of the field.)
...But such a Jubilee wont happen precisely because the 3domite-Jews designed the American system to create a debt-slave economy. The generations of the Millenials, Zoomers, and Alphas are doomed to work, rack up unpayable debts, lose their inheritance to elderly-care and Boomer stupidity, and become effectively rootless nomads living out of their cars.