"THE DEBT CANCELLATION THEOLOGY OF THE PROSPERITY GOSPEL IS UNBIBLICAL"

All human institutions, such as governments, corporations, organizations and the entire human race can not survive or thrive today without owning some debts in this global human economic system. Debt ownership has both its positive and negative consequences to the human institutions and individuals. Debt can be used wisely to create wealth and financial security in life. Debt can be used to achieve high intellectual and educational attainments in life. Banks and financial institutions cannot function, employ millions worldwide, carry out their humanitarian activities and pay their yearly taxes to the governments if they cannot loan out their monies to generate interests in form of debts to others. The world economy system will crash if debts do not exist in it. If all the global debts are cancelled today in all reality, then the governments and the financial institutions all over the global capitalist economic world will grind to their final halt bringing untold hardships, economic recessions, social crises and huge sufferings to humanity worldwide.

The wise management of the IMF/World Bank loans in form of government national debts that were given to Brazil in the 1980s have helped Brazil to create an emerging economy that has moved millions of ordinary Brazilians from abject poverty into the thriving middle class that the whole world today is forced to reckon with, The student loan programs that are made available to the needy American students who desire to go to universities allowed President Barack Obama and millions of other Americans to be college educated and to be out of poverty. Millions of Americans today will not be called proud home owners without these housing loans from these banks. Only very few people worldwide will be able to start their own businesses, get university education, buy or build their own houses, buy their own automobiles and the other basic things of this life without owning debts in form of loans from banks or individuals .

The doctrine of debt cancellation that is part and parcel of the so called prosperity gospel is totally unbiblical and also anti global economic system. That teaching was designed by the preachers and teachers who are totally sold out to the life of greed, lust, love of money and materialism. The debt cancellation theology serves as an avenue that is used by these money-preachers and money-teachers to manipulatively and deceptively exploit their ignorant, vulnerable and gullible disciples under the disguise of debt cancellation by demanding for their offerings in return for those anointing prayers, oil and handkerchiefs for the so called debt cancellation.