Jubilee

A Jubilee means a re-start, a new beginning, as in Webster’s definition: a year of emancipation and restoration provided by ancient Hebrew law to be kept every 50 years by the emancipation of Hebrew slaves, restoration of alienated lands to their former owners, and omission of all cultivation of the land.

Nature provides many examples of finite existence, such as the disappearing dinosaur species. Great empires rise and fall with uncanny regularity. Even the whole world was not big enough for Alexander The Great, who died like every other mortal and ended up in a small coffin. 

Once again, our world is in a precarious position, and the post-WWII era of American dominance is being challenged. The Dollar is but the latest in a long line of international fiat currencies, each of which was thought by the host countries to be everlasting. Climate change and global warming represent existential threats that demand collective action, and we have yet to truly understand the effects of new technological innovations like CRISPR and artificial intelligence.

Chaos is the order of the universe, yet we constantly strive to bring order to it. Maybe Thomas Jefferson was correct in that we need a rebellion every 20 years to keep things fresh and maintain the integrity of our money.

In light of the above, perhaps we are due for a Jubilee. Think about what happened 50 years ago for context as we address our current cycle and the timeliness of a possible re-set: In 1971, President Richard Nixon, in response to increasing inflation, which showed up as wage and price increases, unilaterally canceled the direct international convertibility of the United States dollar to gold.

Maybe El Salvador is up to something good. Maybe the ancient Hebrews knew a thing or two about cycles?!

— Sina.