Odious debt is a recently established legal principle, while the Principle of the Jubilee Year was established thousands of years ago: “those enslaved because of debts are freed, lands lost because of debt are returned, and community torn by inequality is restored.” Leviticus, 25:8-22
It “… was provided that the lands should not be sold away from their families. They could only be disposed of, as it were, by leases till the year of jubilee, and then returned to the owner or his heir. This tended to preserve their tribes and families distinct… The liberty every man was born to, if sold or forfeited, should return at the year of jubilee… Ye shall not oppress one another, not take advantage of one another’s ignorance or necessity…” which is exactly what is being done today – the Great Depression of the thirties did not lead us out of the same ignorance and ‘necessity’.
ONE HUNDRED AND SEVEN PERCENT!
(PUT YOUR CURSOR OVER ANY SET OF NUMBERS FOR EXPLANATION)
Debt is considered to be Odious if the government used the money for personal purposes or to oppress the people. Moreover, in cases where borrowed money was used in ways contrary to the people’s interest, with the knowledge of the creditors, the creditors may be said to have committed a hostile act against the people. Creditors cannot legitimately expect repayment of such debts.
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