A Coming Jubilee?

Dateline: 27 August 2015

Few Americans realize that America’s famous Liberty Bell, made in 1752, is cast with the following verse from Leviticus (25:10):

“Proclaim LIBERTY throughout all the land and unto all the inhabitants thereof.”

It was, of course, not unusual to put Bible verses on government monuments and buildings back in the early years of America. We were, after all, a Christian nation. The evidence of this is overwhelming. Nevertheless, there are modern revisionists who totally ignore (or even dispute) America’s solid Christian foundations.

This is to be expected in the post-Christian America we now live in. Our nation no longer fears God. America no longer accepts God’s standards of righteousness as good. We are an apostate nation. Which brings to mind another Bible verse....

"Serve the Lord with fear, and rejoice with trembling. Kiss the Son, lest he be angry, and ye perish from the way, when his wrath is kindled but a little. How blessed are all those who take refuge in Him!”
Psalm 2:11-12

And that brings to mind Revelation, chapter 18, where an angel of the Lord laments the destruction of Babylon...

“Woe! Woe to you great city, you mighty city of Babylon! In one hour your doom has come.”

Personally. I’m inclined to think that the modern, industrialized, technocratic, city-based world system we all live in is the great Babylon spoken of in Revelation 18. I might be wrong, but that’s what I think.

Anyway, back to the Liberty Bell verse...

Leviticus 25:10 is about the Year of Jubilee that God instructed the Israelites to observe in the Old Testament. The Year of Jubilee was to occur every 50 years. On the Year of Jubilee all debts were forgiven, all slaves were set free, and all land reverted back to the families it was originally given to.  

The Year of Jubilee came to my mind a couple days ago when I listened to This YouTube Interview with Bix Weir at USA Watchdog. At around 19 minutes into the interview Bix starts to talk about the derivatives market and the banking system and the incredible mess that a derivatives bubble is creating. The bottom line is that a big crash is coming. That’s nothing new. Plenty of other economic prognosticators are saying the same thing. But Bix Weir thinks the coming crash will result in the erasure of all debt.

Bix Weir doesn’t use the word, Jubilee, but what he envisions is, in part, a Jubilee event of epic proportions. All debt will be forgiven. Greg Hunter, who is interviewing Bix, expresses some doubt about this ever happening but Bix explains his reasons for thinking the way he does.

One of the reasons is that banks don’t hold mortgages like was once the case. Mortgages are sold and bundled into securities, which people invest in. Bix says these mortgages and stocks are sold multiple times and there is no one owner. He says most of the mortgages and stock certificates in the world are held by the Depository Trust & Clearing Corporation (DTCC). What Bix says about the DTCC is kind of incredible. If you are into conventional paper investments, like stocks, you might want to listen to the interview.

So, Bix thinks the major banks of the world have created such a confusing mess that they will have to start all over. I’ve listened to a lot of different ideas about where different economists think the economy is going, but the erasure of all debt is new to me.

Bix might be right. I sure don’t know. If nothing else, it’s something to ponder. 

If Bix is right, should we all go borrow a lot of money to buy a lot of stuff, so that when the banking system implodes, and all debt is erased, we will still at least have more stuff? After all, if the value of fiat money goes to zero (which Bix also says), material goods (stuff) will still retain a degree of worth.

Well, you can go borrow a lot of money, but not me. 

I still maintain that debt is the worst kind of poverty. And borrowing without paying back or, worse yet, borrowing with no intention of ever paying back, is not ethical. It brings to mind  the biblical admonition given in Psalm 37:21....

"The wicked borrows but does not pay back, but the righteous is generous and gives."

More than ever, I contend that my Agrarian-Style Economic Self-Defense Plan is the best course of action for people who want to be best prepared for the collapse of modern Babylon.

What many people don't fully realize is that the collapse is now in progress. The foundations of the world economic system are cracking as you read this. The Vested Interests are frantically trying to shore up the edifice.

Woe, woe to you Babylon.


Sunnybrook Farm said...

Last night our local news informed me that is steadily improving and this is the best year in the last 9. Things are really wonderful and the economy is coming back strong. When the collapse comes, I wouldn't want to be around a TV station when people realize how they have been lied to.

Anonymous said...

Let's hope that changes to our economic system take place over time and not overnight. The implications of swift change would not be pleasant for anyone.

Mike R. said...

The real problem this whole economic mess poses in my opinion, is the destruction of the current system itself. In Maine, we have a large immigrant Somali population. They are actually suing the state and saying that even if they are here illegally that they are entitled to benefits. The thing is that regardless of your thoughts on helping these people, it is UNSUSTAINABLE. I would love to help out just as much as the next person but there are limits. We have surpassed that a long time ago. That being said, the collapse threatens the entire system because it actually threatens basic services like police and fire and EMS. The fundamental programs like food stamps and welfare will be cut so much that your parable of the swamp hogs will actually come true. The only difference is that it will be the government rounding up the people instead. It will be there only last vane attempt at keeping control of the populace. The other thing that is truly terrifying is people's denial that a collapse will happen. The "that can't happen in America attitude" will destroy us all.

timfromohio said...

They'll never forgive debt. I'd bet they somehow recast the dollar. One "new" dollar is equivalent to multiple "old" dollars. In any case, an agrarian style defense plan is probably the most resilient to however this whole situation plays out.

timfromohio said...

PS - I read you defense plan when it first came out but decided to re-read. Your comment on the church caused me to add an addendum to my last comment. We recently moved to SW Ohio and were forced to leave our church family in NEOhio. God has been good and gracious (as always) and we've found a wonderful, family-integrated church down here. Many of the families are interested in moving out, getting some land, growing gardens, etc. Methinks perhaps the Lord might be telling us something...

Herrick Kimball said...

Sunnybrook Farm—
I think they must be basing their optimistic reporting on the rising stock market., which hardly reflects economic reality anymore.

Agreed. The slow crash in process seems more merciful than a sudden crash. It gives people time to adapt to the harsh realities. But I sure won't be surprised it things start to unwind quickly at some point.

I think it was Margaret Thatcher that said the problem with socialism is that the government eventually runs out of other people's money to give away (or something like that). So, yes, it's going to be tough on the government dependents. Unfortunately, most of this country is in some way dependent on getting money from the government, especially when you figure in Social Security.

"They'll never forgive debt."….. I think that too. Glad you found a good church family in SW Ohio.

Anonymous said...

When I read columns like this, and considering my thoughts and actions afterwards, I sometimes have to think about how I must sound, fearing I'm coming off like some Eeyore, constantly proclaiming doom-and-gloom. After all, none of us knows exactly how the future will unfold. Let's all remember that none of this has taken our God by surprise, and that He is patient and kind beyond all measure. He is in control!

But is it a sign that we're being sinfully anxious and not trusting God when we look out over the "nation" and see the very clear signs of coming collapse? If I look out my window in the morning and see clouds, is it a sign that I'm not trusting God if I pack an umbrella, just in case?

My worry is that I/we aren't paying attention to the clear signs God is showing us, and taking prudent actions!

Keep it up, brother! Maybe a few more will heed your warnings and prepare accordingly!

David Smith

Anonymous said...

"But I sure won't be surprised if things start to unwind quickly at some point."

If you believe this is probable, your second amendment rights will prove handy.

RonC said...

I don't think it would be wise to run out and borrow money either. If I remember correctly, in Adam Fergusson's book "When Money Dies," there was not a general forgiveness of debt in Germany. All contracts even ones that had been paid off with the Monopoly Money of the time were squared up after things had settled down in the new currency. I'm sure the same will happen here. Theft, even honest theft does not fly.

Kyle Sonnier said...

Mr. Kimball,
Your blog has been an inspiration to me and my family. You post such thought provoking things and I wanted to thank you for sharing. Your Agrarian-Style Economic Self-Defense Plan is on point. I've read it time and time again and have shared it with many people.
Thank You!