Odious debt is a recently established legal principle, while the Principle of the Jubilee Year was established thousands of years ago: “those enslaved because of debts are freed, lands lost because of debt are returned, and community torn by inequality is restored.” Leviticus, 25:8-22

It “… was provided that the lands should not be sold away from their families. They could only be disposed of, as it were, by leases till the year of jubilee, and then returned to the owner or his heir. This tended to preserve their tribes and families distinct… The liberty every man was born to, if sold or forfeited, should return at the year of jubilee… Ye shall not oppress one another, not take advantage of one another’s ignorance or necessity…” which is exactly what is being done today – the Great Depression of the thirties did not lead us out of the same ignorance and ‘necessity’.

TAKE A LOOK AT THE CURRENT US “DEBT CLOCK’

ESPECALLY NOTE THE GROSS DEBT TO GDP RATIO

ONE HUNDRED AND SEVEN PERCENT!

(PUT YOUR CURSOR OVER ANY SET OF NUMBERS FOR EXPLANATION)

Debt is considered to be Odious if the government used the money for personal purposes or to oppress the people. Moreover, in cases where borrowed money was used in ways contrary to the people’s interest, with the knowledge of the creditors, the creditors may be said to have committed a hostile act against the people. Creditors cannot legitimately expect repayment of such debts.

 The whole world waited in 1994 when the South African people took over the government and were expected to declare the Apartheid National debt Odious.”We will not pay for the stick that was used to beat us”.

It did not.

Archbishop Desmond Tutu organized a class action on behalf of South African citizens against United States economic supporters of Apartheid.

The government would  not allow him to institute the acttion. Why?

 Netshitenzhe was dismissive of Tutu’s appeal.

“If the archbishop had sat down with the Minister of Justice (Penuell Maduna) to discuss the issue, he would have had a clearer understanding of the government’s position on the litigation in the United States,” Government chief spokesperson Joel Netshitenzhe said.

“This is that not settling the matter (of apartheid victims) inside South Africa has profound implications for the future of the country, for instance for the assessment of the country risk profile, and for investment and job creation.”

The SA government just changed its leaders, not its economic policy. it kept the debt (now doubled); kept the Apartheid trading partners and continued looting the treasury, building castles like Nkandla for themselves and joining the top of the list of corrupt governments around the world.

The United States set the first precedent of odious debt when it seized control of Cuba from Spain. Spain insisted that Cuba repay the loans made to them by Spain. The U.S. repudiated (refused to pay) that debt, arguing that the debt was imposed on Cuba by force of arms and served Spain’s interest rather than Cuba’s, and that the debt therefore ought not be repaid. This precedent was upheld by international law in Great Britain v. Costa Rica (1923) when money was put to use for illegitimate purposes with full knowledge of the lending institution; the resulting debt was annulled.

Some debt that is not odious may nevertheless be illegitimate as in a coerced confession.

“ODIOUS.” Revolting, repulsive, repellent, repugnant, disgusting, offensive,objectionable, vile, abhorrent,   loathsome,  nauseous,sickening, hateful, detestable, execrable, abominable, monstrous, appalling, reprehensible, deplorable, insufferable, intolerable,  unacceptable, despicable, contemptible, beyond the pale, unspeakable, poisonous, noxious, obscene, base, hideous, grisly, gruesome, horrendous, heinous, atrocious, awful, terrible, dreadful,frightful, obnoxious, unsavoury, unpalatable, unpleasant, disagreeable,nasty, distasteful, dislikeable, off-putting, displeasing.

“It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning”-Henry Ford

MIT professor Andrew Lo… “You would think that would be enough for these big shots to curb their addiction of living off Americans’ hard earned money while they wheel and deal with each other like pixies trading gold dust.”

Just a little more than a month ago the U.S. Congress screamed they didn’t have enough money to continue business as usual, and that loans would be defaulted on if a huge influx of cash, i.e., the raised debt ceiling wasn’t approved. This tale reeks like other fishy stories, similar to the ones we were told when huge bank bailouts ensued prior to massive Libor scandals and international fraud which most of us are still wrapping our heads around.

“The regional Federal Reserve banks are not government agencies…but are independent, privately owned and locally controlled corporations.” – Lewis vs. United States, 680 F. 2d 1239 9th Circuit 1982

Max Keiser, a former stockbroker calls it like he sees it: “The U.S. economy is just one big hedge fund.” It started with the Federal Reserve and it hasn’t stopped its wheeling and dealing, stealing and warring since then. The manipulation of markets to feed the addiction of defense spending, torture, extraordinary rendition and overseas bombing, as well as droning, and stealing other countries’ natural resources is how those who run this country feed their addiction, but every junkie hits a wall.

The likes of J.P. Morgan, Lloyd Blankfein of Zero Hedge notoriety, HSBC, Barclays and other notorious movers and shakers in the market manipulation industry can’t do this forever. The predictions these companies make for the valuation of almost every traded commodity—whether it is gold, or peanuts, is completely contrived. This only works when people don’t know it.

“The Federal Reserve banks are one of the most corrupt institutions the world has ever seen. There is not a man within the sound of my voice who does not know that this nation is run by the International bankers.”- Congressman Louis T. McFadden

“I am a most unhappy man. I have unwittingly ruined my country A great industrial nation is controlled by a system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the civilized world – no longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men.”

As a New Year Resolution, let us all return the debt to its rightful owners, the International Banking cartel, in other words, call it “Odious” and declare ourselves a “Jubilee” for the first time in three thousand years – Tom Dennen