Free Republic

Democratic Representative Ilhan Omar of Minnesota has reintroduced a bill to cancel rent and mortgage payments due to the coronavirus pandemic. The bill would “institute a nationwide cancellation of rents and home mortgage payments through the duration of the coronavirus pandemic.”

In Ancient Greece around 600 BC the commoners had fallen into heavy debt. First they mortgaged their land, and delivered the majority of their crops to the lender. But after a bad harvest, the farmers needed to borrow more in order to afford another planting. With nothing left they used their freedom, and the freedom of their family as collateral. Many were sold into debt slavery after defaulting on this second loan. That’s when a poor aristocrat, Solon, was elected ruler by appealing to both the landowners and the heavily indebted commoners. He canceled the commoners’ debts and ended debt...

We are moving forward with a new process that will immediately cancel the debt of the 27 countries facing debt distress. Additionally, all 76 of the World Bank's International Development Association (IDA) countries will receive full debt cancellation. All developing countries categorized either as Middle Income Countries or Low Income Countries who face high debt vulnerabilities will see a full cancellation of debt. In total, this new process will apply to 111 countries. These countries will receive full cancellation of all debts as they wrestle with the COVID-19 Pandemic. ​ The Board noted that this relief should help mitigate disruptions...

Forgiveness of debts, as well as sins, is specifically addressed in the Bible. The Book of Leviticus provides that every 25-50 years there will be a Jubilee, where all slaves and prisoners are freed, sins and debts are foregiven and property returned. Later Pope Boniface VIII decreed that a Jubilee shall take place every 50 years, and that extraordinary Jubilees would be decreed when necessary. If ever there was a time when the world needed an extraordinary Jubilee, it’s now! Debt, at all levels of society, keeps going higher and higher with no end in sight. Currency units are now...