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Wednesday, Nov 22nd

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You are here News Editorials Alex Baer: The Home Runs and Bunts of Money & Messaging

Alex Baer: The Home Runs and Bunts of Money & Messaging

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Rolling JubileeMoney is the price of admission to this circus called life.  It's mandatory, not optional.  Without money, diddly squat gets done. Money's what greases all our skids and connects up all our dots and our lives, like it or not.

Money is, and can be, many things.  However, most rational people would agree that one thing money should not be, is a club -- a weapon, pulverizing and penalizing people in pursuit of basic, daily needs.

If you agree, you'll instantly see the beauty of The Rolling Jubilee.  It describes itself as a bailout for the 99% by the 99%.  It uses the moves of banksters against them, like jiujitsu.

Where banks seek profit by buying people's debt obligations, spending pennies on the dollar for the right to harass debtors for full payment, The Rolling Jubilee does something unexpected: Using donations, it buys the debt -- then retires it.

Poof! No more debt.  Completely legal.


For every dollar donated, the group says they can buy up, and then retire, $20 in debt. They've already raised more than $400,000, enough to retire almost $9 million in debt.

It was founded by a coalition of Occupy groups and kicked off November 15 in New York City with a variety show and telethon.  All proceeds go directly to buying people's debt and then canceling it.  It's growing, with groups in the UK, Spain, and France.

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