“We are Forerunners. Guardians of all that exists. The roots of the Galaxy have grown deep under our careful tending. Where there is life, the wisdom of our countless generations has saturated the soil. Our strength is a luminous sun, towards which all intelligence blossoms… And the impervious shelter, beneath which it has prospered.”

Sunday Scripture: The Year of Jubilee

by | Sep 4, 2022 | Sunday Scripture | 1 comment

“You shall count seven weeks[c] of years, seven times seven years, so that the time of the seven weeks of years shall give you forty-nine years. Then you shall sound the loud trumpet on the tenth day of the seventh month. On the Day of Atonement you shall sound the trumpet throughout all your land. 10 And you shall consecrate the fiftieth year, and proclaim liberty throughout the land to all its inhabitants. It shall be a jubilee for you, when each of you shall return to his property and each of you shall return to his clan. 11 That fiftieth year shall be a jubilee for you; in it you shall neither sow nor reap what grows of itself nor gather the grapes from the undressed vines. 12 For it is a jubilee. It shall be holy to you. You may eat the produce of the field.[d]

13 “In this year of jubilee each of you shall return to his property. 14 And if you make a sale to your neighbor or buy from your neighbor, you shall not wrong one another. 15 You shall pay your neighbor according to the number of years after the jubilee, and he shall sell to you according to the number of years for crops. 16 If the years are many, you shall increase the price, and if the years are few, you shall reduce the price, for it is the number of the crops that he is selling to you. 17 You shall not wrong one another, but you shall fear your God, for I am the Lord your God.

18 “Therefore you shall do my statutes and keep my rules and perform them, and then you will dwell in the land securely. 19 The land will yield its fruit, and you will eat your fill and dwell in it securely. 20 And if you say, ‘What shall we eat in the seventh year, if we may not sow or gather in our crop?’ 21 I will command my blessing on you in the sixth year, so that it will produce a crop sufficient for three years. 22 When you sow in the eighth year, you will be eating some of the old crop; you shall eat the old until the ninth year, when its crop arrives.

— Leviticus 25:8-22, English Standard Version

Given the debate raging in the USA about student loan forgiveness, it is worth taking a close look at this particular passage of Scripture, for there is wisdom contained herein that goes far beyond human understanding. I have kept quiet on the subject of loan forgiveness in general, but I will say that there is a very good case to be made from Scripture as to the need for it. Yes, there is moral hazard involved – substantial amounts of it. And yes, loan forgiveness will result in a bunch of absolutely worthless idiots getting off without paying for their stupid decisions in going for useless liberal arts degrees.

We also cannot deny the political aspect of loan forgiveness. Let us be clear – debt forgiveness works in favour of liberal constituencies, no matter where it is applied. So, inevitably, liberals are largely in favour of it – because they make the bad decisions, and then they benefit from the government essentially

On the other side, the supporters of debt forgiveness are correct in arguing that loan forgiveness is inherently deflationary, if done the correct way. They miss one very important detail, though – the way that Western countries, especially the USA, enact debt forgiveness, is through the government paying lenders and then creating new debt to pay for that.

This is NOT Scriptural, at all. Nor is it deflationary – it is INFLATIONARY, because all you are doing is cancelling existing debt that would never be repaid in full, with actual debt that will be monetised through the central bank.

The correct way to go through debt forgiveness, is simply to write it off. That’s it. End of story. THAT is deflationary, and it is Scriptural. The way the US is going about it, is just plain stupid.

Let’s unpack the Scripture behind this idea a bit further:

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1 Comment

  1. Robert W

    I found this paper on the Jubilee to be an eye-opener. It put a context on Yahweh’s plan for the jubilee. It also shows how he kept the pattern of the jubilee running despite his people’s best efforts to avert it.

    https://www.academia.edu/33732269/A_Brief_Theology_of_the_Jubilee
    “In the present article, I seek to outline the function and nature of the Jubilee cycle within the context of the Hebrew calendar, and to explain how it finds its climactic and cosmic fulfillment in the life, death, and resurrection of Jesus of Nazareth.”

    Reply

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