What Is The Rolling Jubilee?

www.rollingjubilee.org
www.strikedebt.org

We need a jubilee, a clean slate, a cancellation of debt for the 99%.

The Rolling Jubilee raises money to buy debt. But instead of collecting on the debt we buy, we're going to abolish it. It's time for a bailout of the people, by the people.

• Category

  Nonprofits & Activism

[kevinjjfr]

In 2000, (The year of Jubilee on the Catholic calendar) the Catholic Church and Bono teamed up in a program called "Drop the debt" they succeeded in clearing the 27 poorest nations of their national debt, so they could invest in education, recent study have show 7 of the 10 fastest growing economies benefited from this program.

Do this for the economy, and we will have the same results.

[EmmittBrownBTTF1]

That is a possibility, but the debt collectors wont like it pressuring the margins. If some of them wen out of business, it would not be a bad thing.

[nbgstv]

Please support Elizabeth Warren and sign the petition to reduce student loan interest rate to the same 0.75% rate the BIG BANKS get -- google petitions-dot-whitehouse-dot-g­ov-forward slash-petitions etc

[EmmittBrownBTTF1]

They have also reported spending $5000 and relieving $100,000 of debt. as for full accounting aren't being premature StrikeDebt hasn't even seen its first tax filing season.

A person that makes baseless accusations based on Unrealistic expectations, that is how you spell TROLL.

[miketv]

Well duh. Listing the amount of money they've collected encourages people to give them more money.

The important part is showing where that money is GOING (which they will never, ever do....because their own wallets aren't listed as a 503c, & therefore aren't subject to prove where the money is going.) Want to know why they aren't a 503c? Because they'd have to be transparent & legitimate.

This is how you spell SCAM.

[EmmittBrownBTTF1]

The banksters were already offloading this debt to collectors who often harass debtors some of the criminally. Debtors benefit from being relieved of the debt. Some of the debt is "Zombie" debt, the collectors fail to collect, and put it back on the market where another collector pick it up adds more fees fails to collect, and puts it back on the market....

Relieved debtors get to keep their income and live w/out the stress of collectors pretending to be law enforcement with arrest warrants.

[Michiel1972]

Yeah, but who's debt is this? To me it seems that this is just wiping the junk from the balance sheets of the banks from which the banksters and gambling investors are actually the real beneficiary and not the poor people on the bottom of the pyramid. And let it be clear I don't pity the parasites of society whatsoever.

[EmmittBrownBTTF1]

Delinquent is sold by the bank into the debt market from there it can bought at 5% of its value. Debt purchasers can collect or forgive the debt. The original value of the debt that was offered to borrowers was an invention from leveraging finance industry assets. In a sense the rollingjubilee is just uninventing that value.

[EmmittBrownBTTF1]

On rollingjubilee site the value of all donations received is the first item on the page. StrikeDebt is a volunteer organization.