Jubilee – an institution of biblical law providing every 50 years for the release of Hebrew slaves and the restoration of family property with all debts being forgiven as well. This was the law of Jubilee, and to be observed every seven cycles of Sabbatical years, each cycle being seven years. Interestingly there is no mention of this institution ever being observed by Israel…hence, never celebrated. It’s obviously too difficult to give up one’s possessions or debtors.

My guess is this law was instituted to prevent a landed nobility, but also to avoid the very kind of debt mess a nation like Britain…indeed all nations…is in right now.

What would happen if all nations’ debt was canceled….forgiven? Could it be any worse than where we are right now?