Monthly Archives: January 2011

Campaign to Reform UK Dept. of Dodgy Deals

Jubilee Debt Campaign in the UK has released a new report, entitled ‘The Department for Dodgy Deals’. Any other bloggers in the sphere who are concerned about international debt and justice for the poor should spread this far and wide.

The department for dodgy deals
by Jubilee Debt Campaign on Thursday, January 27, 2011 at 11:36am

Dodgy Deals ReportA report out today from leading anti-poverty group Jubilee Debt Campaign reveals that a little-known Government department is using taxpayers’ money to back dodgy international business deals – deals which are fuelling poverty, human rights abuses and environmental destruction in the developing world.
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We are the Jubilee Generation

Star of 2000An excerpt from “The Star of 2000: Our Journey Toward Hope“, by Jay Gary, PhD. Jays describes himself as a Foresite Coach, helping leaders rethink the future. Jay’s motto on Twitter is “How to lead from the future and recreate your career and company through strategic foresight, innovation and global leadership from a Regent U professor” His website is: jaygary.com

Written prior to the year 2000, Jay’s book anticipated the celebrations, changes and opportunities at the start of the new millenium, focusing on celebrating Jesus as “the star of 2000”.

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Bible Verses on Jubilee and Debt Cancellation

Old Hebrew Bible

Old Hebrew Bible

Isaiah 61:1-3a
The Spirit of the Sovereign LORD is on me, because the LORD has anointed me to preach good news to the poor. He has sent me to bind up the brokenhearted, to proclaim freedom for the captives and release from darkness for the prisoners, to proclaim the year of the Lord’s favor and the day of vengeance of our God, to comfort all who mourn, and provide for those who grieve in Zion– to bestow on them the crown of beauty instead of ashes, the oil of gladness instead of mourning, and a garment of praise instead of a spirit of despair.

Leviticus 25:8-55
Count off seven sabbaths of years–seven times seven years–so that the seven sabbaths of years amount to a period of forty-nine years. Then have the trumpet sounded everywhere on the tenth day of the seventh month; on the Day of Atonement sound the trumpet throughout your land. Consecrate the fiftieth year and proclaim liberty throughout the land to all its inhabitants. It shall be a jubilee for you; each one of you is to return to his family property and each to his own clan. The fiftieth year shall be a jubilee for you; do not sow and do not reap what grows of itself or harvest the untended vines. For it is a jubilee and is to be holy for you; eat only what is taken directly from the fields. In this Year of Jubilee everyone is to return to his own property. Continue reading

Athenian Democracy Began With Shaking Off Debt Burdens

Solon

Solon of Athens, the Father of Democracy

In Ancient Athens, the establishment of the world’s first  democracy began with Solon’s drafting of a constitution which legislated a law known as “the shaking off of burdens”, the ending of Draconian laws of debt slavery.

Today Greece is again mired in a economic and moral crisis not unlike that which faced the ancient city-state of Athens in 594 B.C.E.

If you have the desire to see an economic recovery rather than a repeat  great depression or world war, it would benefit you to study economic history from an ethical perspective and consider the parallels between our present global economic crisis and the ancient economic crisis in Athens. Then as now Athenians were oppressed by unpayable debt. Solon came up with a solution : a “shaking off of burdens”, his name for a debt cancellation that established the first Democracy in history. Continue reading

Taking pay cuts for the bondholders is so… 20th Century

Here’s some financial sense that actually makes sense

In an article entitled “Our Defining Moment“, Damon Vrabel at financialsense.com questions the unthinking view that struggling workers need to take pay cuts and layoffs so that the bankers and bondholders can be paid in full and continue their life of unproductive luxury.

He states:
“That’s so…uh…20th century.”

Excerpts:

In a system where 100% of all money is sourced by going into debt to private capital holders who demand exponential returns … this means in order for the bondholders at the top to maintain their ever-increasing quality of life, millions of employees in cost centers must be happy with continually declining quality of life

He asks why don’t those who obviously have some smarts question the financial system and look for a better alternative, as it’s obvious that  the end game of debt saturation is approaching and mathematical breakdown of the monetary system is certain.

Calling for new thinking, Damon recognizes that anything but calling for a new arrangement:

…Has Zero Moral Authority

A structural adjustment in the global monetary system in the spirit of jubilee is clearly the only moral solution at this point. Every major religion and every sane philosophy demands it and compels us to implement it. Anything else is morally deranged and will result in a class-based world war where the capital holders turn violent governments against the masses.

An Introduction to the Jubilee

Jubilee CelebrationYou shall make the trumpet sound throughout all your land…
And you shall hallow the fiftieth year,
And proclaim liberty throughout all the land,
unto all the inhabitants thereof:
it shall be a jubilee for you:
and you shall return every man unto his possession
and you shall return every man unto his family

– Leviticus 25:9,10

In ancient Israel, the Year of Jubilee was the name given to the fiftieth year, a year heralded with the blast of a trumpet. It was a year to be hallowed, a year when liberty and release from debt was proclaimed throughout the land.

In this year all slaves were set free. All debts of the poor were cancelled. Those that had been depressed into poverty for any reason were commanded to return home to their family and repossess their inheritance. It was a year of new beginnings, an economic recovery for everyone in the land.

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Triumph of Freedom

God speed the year of jubilee,
The wide world o’er!
When from their galling chains set free,
Th’ oppressed shall vilely bend the knee,
And wear the yoke of tyranny,
Like brutes, no more : —
THAT YEAR WILL COME, and Freedom’s reign
To man his plundered rights again
Restore.

God speed the day when human blood
Shall cease to flow!
In every clime be understood
The claims of HUMAN BROTHERHOOD,
And each return for evil, good —
Not blow for blow : —
THAT DAY WILL COME, all feuds to end,
And change into a faithful friend
Each foe.

God speed the hour, the glorious hour,
When none on earth
Shall exercise a lordly power,
Nor in a tyrant’s presence cower,
But all to Manhood’s stature tower,
By equal birth! —
THAT HOUR WILL COME, to each, to all,
And from his prison-house the thrall
Go forth.

Until that year, day, hour arrive —
If life be given, —
With head and heart and hand I’ll strive
To break the rod, and rend the gyve, —
The spoiler of his prey deprive, —
So witness Heaven!
And never from my chosen post,
Whate’er the peril or the cost,
Be driven.

-William Lloyd Garrison
American abolitionist of the 1800’s.