[ksen]

So I can run up a mountain of debt, pay it off for pennies on the dollar and the Rolling Jubilee just refuses to pay it off. I get a bunch of sweet swag for almost nothing?!

Is that how this works?

I take it you're not a big fan of the biblical "Jubilee"?

[The Louiswu]

I'm not in slavery if that's what you mean. No one can force me to do anything I don't want to do, even at the point of a gun or threat of death.

I enter into my debts of my own free will and with full knowledge that they MUST be paid off. Skipping out on debt is wrong I don't care how it is phrased.

[LearsFool]

I take it you're not a big fan of the biblical "Jubilee"?

That Jubilee was part of the Law of Moses, and was therefore understood, expected, and anticipated in every lending and real estate transaction.

For instance: Since land ownership reverted at the Jubilee, a land "purchase" was merely a lease. And since debts were forgiven at the Jubilee, every loan took into account the time remaining for repayment. (In other words, if Jubilee is tomorrow, don't ask me to loan you five bucks for lunch! :-)

Jubilee is not part of our law, and so the remaining time until Jubilee is not factored into loans, etc. It's therefore not much use to consider it in the discussion of debt today.