IMF paper warns of 'savings tax' and mass write-offs as West's debt hits 200-year high

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Comment:   When the whole of Western Civilization is structured around debt, and the continued creation/increase of debt, implementing a "savings tax" and "mass write-offs" is only a temporary solution.  Without a fundamental change to how money is created within the system, debt will continue to accumulate and sometime down the road, 5 years, 10 years, maybe 15 years, we will find ourselves back in the same situation, or worse.  - JC