Finance & Fury Podcast

Welcome to Finance and Fury, the Say What Wednesday edition. Part 2 from last week with Ryan’s question – Starting to look at this - What is a debt jubilee – what are the chances of this occurring and how would this affect the economy – Dates back to biblical times - The official term ‘Jubilee’ comes from the Old Testament- in some parts of Mesopotamia -Jubilee Year of Leviticus 25 was based on Babylonian practice for over 2,000 years -the practice of debt cancellation, called “andurarum.” When any new ruler would take the throne, the first thing they would do would be to free the personal debts – was written into Babylonian law forgive the personal debts that had mounted up - among the small holders on the land - liberate the “bond-servants” -people who had been obliged to work off their debts in labour – essentially freeing of slaves   Economic states are different between now and almost 4,500 years ago – back then - the main creditors were royal families and their close supporters – either the religiou