Source: Center for a Stateless Society
by Vishal Wilde
“Debt is a dominant feature of the global macroeconomy, upon which much else is currently underpinned or reliant. Even so, when examined, one might reasonably conjecture that significant swathes of this presuppose inherently undemocratic assumptions and the continuity of state-controlled, extraction-predicated public finance. … the length (or maturity) of sovereign debt issued, in terms of duration over which payments are due, can be as short as a few months or under a year, while running up to multiple years and even several decades. As such, in any given democratic state, while those elected may have a mandate to occupy their offices for up to, say, five or six years, with term limits on re-election or otherwise, the debt issued in that time (and periods preceding it) may be payable for up to 10, 20, 30 years or even more.” (07/02/25)