2min chapter

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Debt and the Collapse of Antiquity – Michael Hudson (pt 1/2)

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CHAPTER

The History of Debt Cancellation

The Jewish Jubilee year of Leviticus 25 is word for word from the debt cancellations that Hammurabi's dynasty proclaimed early in the second millennium BC. It was normal for Sumerian Babylonian even Assyrian rulers of the 7th century BC. Even they would cancel the debts, liberate the bond servants and restore the lands that had been turned over to creditors.

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