Doesn't matter if debt is or isn't written off as it is being written off NOW. It can't be paid back so banks are being nationalised. It either happens quickly or slowly. Which would you prefer?
I suppose government thinks slowly would be preferable so as to allow very strong inflation to reduce the debt burden and get business going again. Savers get fcuked either way.
World War is a real possibility if not probability.
If you are willing to wear your tinfoil hats, then I will mention this guy:
Albert Pike
There's no proof of this letter ever existing, but it's worth keeping one eye open.