Rolling Jubilee: a bailout of the people by the people

I wanted to draw reader’s attention to Rolling Jubilee, a project that buys up debt with the explicit intention of abolishing it. As I write this (and this will be long out of date by the time you read this post), $109,507 has been raised to abolish $2,194,957. This is a really significant and transformative use of donation and a growing social movement we can all participate in.
This kind of project, alongside the campaign to withdraw money from mainstream banks (see Bank Transfer Day and Occupy Withdraw) are essentially encouraging a form of consumer activism that has the possibility to effect a genuine transformation or create a genuine financial democracy – the best way of working within the system towards a moral agenda usually kept outside.
Please add more links to similar initiatives in the comments, these examples come from the US and the UK – would be great to build up a comparative repository of initiatives in other places…Greece? Spain?

Leave a Reply