A jubilee is a biblical concept, where every fiftieth year is for forgiveness of spiritual and economic debts. America’s money IS economic debt, because Congress has allowed for-profit banks to create tens of trillions of dollars in loans which can never be paid back.
In 2026, as the United States celebrates its 250th birthday, I’m calling for a jubilee. This would take the form of a one-time minting of a $47 trillion platinum coin under 31 U.S.C. § 5112(k). After adding $47 trillion in interest-free dollars to our nation’s bank account, the United States can pay off Treasury Securities as they come due instead of rolling them over. Since the US spent more than $1.1 trillion in interest on the national debt in 2024, paying off the national debt will free up this spending for more productive uses. The remainder from this $47 trillion dividend would be distributed to the American people, totalling about $30,000 per adult, to pay for household debts.
