Occupy seeks to erase your debt

Occupy’s ‘Rolling Jubilee’ Wants To Erase Your Debt, And It’s A ‘Brilliant’ Plan [Video]

COMMENTARY | The Occupy Movement has had a long, crooked, and troubled road, but a new initiative aimed at doing some real good and re-energizing support along the way is nothing short of brilliant, according to the Business Insider.

A quick recap: Over the weekend, Occupy announced their intention to erase consumer debt, calling their new movement the “Rolling Jubilee.” It works simply. The movement buys up “distressed debts” from lenders at rock-bottom prices and forgives them. It’s completely legal, too. In fact, this is exactly what debt collectors do. But instead of hounding you for the difference, Occupy simply forgives your debt hoping, in a “pay-it-forward sense,” that you contribute to the Rolling Jubilee financially after your debt is erased.

According to an op-ed by Charles Eisenstein, Occupy’s Rolling Jubilee is nothing short of brilliant. He says, “debt relief is a transpartisan message that eludes conventional political categorization. As such, it returns Occupy to its origins as an advocate for the well-being of ordinary people, neither left-wing nor right-wing.”

Indeed, we are inclined to agree with this perspective. Occupy’s Rolling Jubilee, or “The People’s Bailout” defies political categorization. It may only be a partial solution to our financial woes, but the message is powerful: We can band together in the spirit of charity to solve each others problems instead of waiting for the government to intervene or for the free market to somehow set the ship back on course. Occupy is putting our fate as a nation into the people’s hands, taking control away from elected officials or capitalistic bureaucrats, both of which are highly-distrusted groups as of the now.

With the Rolling Jubilee, Eisenstein says that Occupy has reclaimed its purpose. We’ll take it one step further and say that Occupy has finally found a purpose: One that every American, regardless of race, gender, financial situation or party affiliation can sign on with.

Occupy’s Rolling Jubilee is not “loan forgiveness” in the sense that debt is written off, erased, or funded with government cash. The Occupy strategy is a nationwide act of kindness, based on charity and goodwill, and is aptly called “The People’s Bailout.”

What do you think of Occupy’s new Rolling Jubilee initiative? Leave us all of your thoughts below.