Strike Debt! You are not a loan.

[BKH70041]

19. I can tell you what would happen in a jubilee; oligarchs or not.

Let's use the Biblical example, which I believe jubilee was every 50 years. For the sake of discussion, let's lower that to 7 years.

If I know in 7 years that all debt will be forgiven, then I'm not going to loan money for a term longer than 7 years. With 3 years left until jubilee, the loan term will 3 years. I'll always make sure the final payment is due well before jubilee can have any effect.

If someone decides to default as jubilee approaches in order to obtain the product/service for less than what they fully owe, there would be some network put in place that would inform others that BKH70041 defaulted last time and is not to be trusted this time.

Put laws into place that prevent this and watch lending dry up. Make the government the lender and watch people who are honest and pay in full over the term express their anger towards those who didn't, and especially some average Jane/Joe who intentionally took advantage of the situation or received some special treatment not afforded to others.

I fail to see how a jubilee would do anything put make the burden of borrowing and repayment more difficult.

As to the OP, I have my own version of a "debt resistance movement." I never borrow more than I can afford to repay. In that way I have resisted debt for well over 30 years. I highly recommend others do the same. It uncomplicates life tremendously.