Occupy Wall Street movement begins Jubilee program
Nov 19, 2012
Recall that the "Occupy" movement began at the same time as Operation Jericho last year (Sept. 11, 2011). While we were breaking down the walls of Jericho, they were occupying the Wall Street of Babylon. So it of interest to us that they have come up with a practical way of declaring a JUBILEE. More and more people are becoming familiar with this biblical word, and it will not be long before they start to learn its actual meaning and application.
Members of Occupy Wall Street — various branches of which have recently been saving families from foreclosure and aiding victims of Hurricane Sandy — have launched a new initiative. Coined the “Rolling Jubilee,” Occupiers are raising money to buy distressed debt from financial firms.
But while purchasers of debt usually hound debtors in order to make a return on their investment, Occupy plans to simply abolish the debt for the lucky individuals whose accounts they grab. As explained on the Rolling Jubilee website:
We buy debt for pennies on the dollar, but instead of collecting it, we abolish it. We cannot buy specific individuals’ debt – instead, we help liberate debtors at random through a campaign of mutual support, good will, and collective refusal.
Dr. Stephen Jones