"At the end of every seven years you must cancel debts. This is how it is to be done: Every creditor shall cancel the loan he has made to his fellow Israelite. He shall not require payment from his fellow Israelite or brother, because the LORD's time for canceling debts has been proclaimed." —Deuteronomy 15:1-2
"Consecrate the fiftieth year and proclaim liberty throughout the land to all its inhabitants. It shall be a jubilee for you; each one of you is to return to his family property and each to his own clan." —Leviticus 25:10
Brother Will says: According to the early books of the Bible, every seven years, there's supposed be a shmita, the sabbatical year or the "year of release". Every fifty years, there's supposed to be a jubilee, which in Hebrew is a yobhel. Think of them as small freeings from debt and large ones. If anyone tells you this is a Christian nation, ask them when we last had a jubilee. Kings and priests and presidents have made only the most token concessions to these verses since they were composed. It took a civil war to give a jubilee to the USA's slaves. We're still waiting for one for everyone who has been in debt for seven years or more.