What is the Jubilee?
The jubilee is the forgivance of all debts, public and private. The Hebrew term has deep historical roots and much to discuss around its meaning and history. For our purposes, we define it as that moment when the value of the lowest common denominator of exchange, or the local monetary unit, falls to zero. This is the only way all debts denominated in some unit are necessarily forgiven.
Debts contracted in other units will remain. If you owed it to yourself to hike the Appalachian Trail, you still need to do so.
In current terminology, the jubilee is that moment when many realize they don't have to repay their credit cards or student loans made in the local coin of their realm, and their bank doesn't have to repay their deposits in said coin.
When is the Jubilee?
The nature of the event is such that it cannot be known in advance. It will always be three to fifteen years away, until it happens. Financial planning around the event is foolhardy unless you happen to hold a significant fraction of some high-demand global commodity. There may be times at which it feels closer than others. The Jubilee festival can report on conditions but cannot influence them nor make any predictions of actual dates. Based on financial conditions we will publish a color-coded warning reflecting current probability of imminent jubilee. However we stress that the nature of the event is that it could theoretically arrive at any moment. Sometimes it might seem imminent and be far off, other times it might seem far off and yet be imminent.
Where is the Jubilee Festival?
It is likely there will be many. Organizers are meeting for the first annual rehearsal festival in Vermont in 2016. Rehearsal festivals will be held annually until the jubilee has arrived.
What can I do to help?
Contact the organizers with ideas for the festival. Propose and receive assistance; solicit and provide assistance. Celebrate and prepare!
Current Bounties:
Annual writing awards, annual musical award, and other bounties will be decided at the first meeting.
Scenarios:
Coming soon.