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RE: Damned if we do, and damned if we don't!
I think we have to ask who that debt is owed to and will paying that debt plus interest improve the world? If the repaid debt is going to those who continue to hoard wealth and finance wars and nefarious projects then the answer must be to default. Not necessarily on an individual level, but on a governmental and international scale. Default on debts, create a new gold backed currency, and allow individuals to pay off their much devalued personal debts with a new gold backed currency. It's a simplistic thought but what is the alternative? Global debts are just too big and there is not enough available money in the world to pay them off. They have to be written off.
That is an excellent point and frankly only choice. In my opinion, the right choice as well. The banker cabal (IMF, Central Banks and BIS) have enjoyed the slave master position for far too long. Iceland did that in 2008 and jailed the bankers. They went through tough times but today they are stronger and better.
Upvoted your comment.
Thanks, it probably needs more thought and I may have a think and create a separate post but, yes, I actually think that is the bigger plan (see 1988 Economist front cover possibly predicting a 2018 gold standard). World leaders understand the problem well enough and I'm sure moves are afoot.