A bailout of the people by the people.
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.
What do you think folks?
Max, you are on their list of people they want. They ask others to use their twitter accounts to persuade you to help. I don’t have a twitter account. So, what about it Max? Does sound good. And, you seem interested as this is your second post promoting it. It does seem like a breathe of fresh good to others.
The wrong people are involved here. Where are the WORKING PEOPLE? It’s just more we’re so cool performance types who are so f—ing “happy.” These are the kind of people Bob Dylan came to despise in the 60′s.
A cautious “WHY NOT?” from me.
Sounds cute, but why should WE pay more money to the very same assholes who ripped us off in the first place? It doesn’t make any sense. I like Tarpley’s idea better; five year debt moratorium and a Wall St. transaction tax. Make the perps pay, not we the people.
No to this, no to Tarpley, those who took the “risk” of lending out the money eat their losses.
The debt which is worth pennies on the dollar is the stuff which is not being paid off any more and there’s no collateral to collect. That’s why it’s cheap. So they buy this stuff, find out who owes the money and say “don’t pay this off any more”. It won’t change anything, just makes the situation official.
Are you mental…. so buy up debt of banks and other companies and write it off….. is this not just another bail out of those who spent too much money, now your asking the “people” to pay up again. Genius plan!!!
The debt has already been transferred to the public balance. If the people are not to pay the banksters they have to pay NO tax. That would be kind of hard unless you grew all your own food on a self sustaining farm. Otherwise your tax is going to keep the elites in the lives they have established for themselves over generations and millenia. The debt will stop being paid in the future, just as a new “tool” , disaster, war is instigated to replenish the debt payable by the people to the descendants of the elite. The cycle goes on repeating as it has done for thousands of years.
Yes.
That said, I saw no live (massively parallel online) audit transparency link.
As practically everyone has pointed out, this re-captalizes the lenders, and (I would imagine) frees their credit charters for re-leveraging to the nominal amount of the original debt. They are free to re-lend 14 thousand, against the 0500 they received.
Could the money collected be put into physical silver, for safekeeping (buying the dips), until needed for payment?
How about leveraging the proceeds 100x or so, to buy up 2000x more debt?
And then, using that as collateral to set up neighborhood indoor aquaponics centers? Using the leftovers to produce local biofuel (gas, ‘x’-thanol, ‘diesel’)?
And use those to set up local electric vehicle charging stations?
Or would all that take MBAs inherently incapable of humane non-predatory concepts and activity?
Remember, that tax is earned by you working. So part of your work is indirectly(oh, it’s good to put the smoke and mirrors over slavery) as a slave for the elite. Ah, but what of the filthy poor* who do not work? Yeah, how lucky of them not be be part wage slave for “d’masters”. Yeah, look at their wretched lives, oh what bliss. But they, as everyone else, pay tax when they spend, so as a percentage of what they have in life, the poor pay a much larger part then others. You should feel empathy and compassion for the poor until they are not poor. So don’t be fooled by the MSM that the poor are to blame for the plight of mankind. If a ship hits an iceberg is it the stewards’ fault or the captain and the man at the helm?
* MSM establishment phrasing to project the emotion you should feel towards the poor, or un-people as they are know from the ivory towers.
Newsflash from the ivory towers:- But wealth is proportionate, everyone can not be wealthy. Yeah, but more equal distribution is better for EVERYBODY. Ah, but that’s utopian dreaming and can never work! Yeah, but opposable thumbs and a large cognitive,sentient brain is wishful thinking and we should stay scrabbling about on the ground, hitting and biting.
It’s always those on top who shout the loudest that man is basically too stupid to have more equality. Stupidity is delivered from the top down.
I am all for it! It is called GRACE. Setting people free. Screw ‘em banksters!
Thank you, I do not need it, I am already debt free. But I know what it feels like to consider jumping from the Empire State Building because your debt overwhelms you.
I used to be debt counsellor. After the first meeting with those in overwhelming debt you can see the relieve on their faces when they know someone will help them – because they cannot think straight any more!
Buying their debt for pennies on the dollar and forgiving it is your opportunity to do the honourable and noble thing. Go for it!
This campaign sounds like they are helping the bankers more than the people who are their victims. I say just start hanging the bankers it is best for everybody.
Clearly understanding the root problem must happen before there is any possible chance of a real cure, start with reading this and truly digest every word (and know who he was talking to):
“We are grateful to the Washington Post, the New York Times, Time Magazine and other great publications whose directors have attended our meetings and respected their promises of discretion for almost forty years…. It would have been impossible for us to develop our plan for the world if we had been subjected to the lights of publicity during those years. But, the world is more sophisticated and prepared to march towards a world government. The supranational sovereignty of an intellectual elite and world bankers is surely preferable to the national determination practiced in past centuries.”
– David Rockefeller, Bilderberg Meeting, June 1991 Baden, Germany
Is decimating US soldiers (by US design) their plan? It seems so.
Where to go? (once you become self sufficient) but understanding why current things are happening is key.
(This video is excellent, it is a must see by every world citizen, it’s long but riveting, watch it in segments)
Strategic Relocation The Film FULL VERSION HQ
http://youtu.be/jzjm9MJFSA8
Joel Skousen is a world renowned expert in designing secure homes, geo-political analysis, and strategic relocation sits down with Alex Jones and discusses strategies on how to prepare and survive.
Is decimating US soldiers (by US design) and tricking China and Russia into bombing the USA their plan? It seems so.
Depopulation, end of sovereignty (except their own ‘supranational sovereignty’), totalitarianism (re-read the Georgia Guide Stones)
I do not like CB’s monetizing gov debt; I do not like people monotizing CB’s debt.
Some combo of a CB-er and a bullet is wiser, imo.
this idea is a double edge sword…
Forgiving someone’s debt does not mean that person will stop collecting debt once the debt is forgiven, and it doesn’t mean those who helped to put or keep you in debt won’t target you for more debt.
The system needs to change, people need to change the system.
Education is important.
If you are already swimming in debt it’s less likely you’ll get out of debt any time soon and as time goes on your savings, wages and time will dwindle, you’ll never get out of debt and will be forever a debt slave.
This movement, if it stays on the up and up, will become a force to be reckoned with.
The one criticism lodged at the #OWS movement was they didn’t do anything except pound drums and conduct mic checks – they didn’t do anything within the system to effect the system; like buy silver and crash JPM (I’m convinced that would have worked had it gotten MSM attention, but JPM has a lot of power in the MSM). Regardless, this is something in the right direction.
Basically, what this organization is doing is by buying certain kinds of debt on the cheap and forgiving the debtor. Make no mistake – it is charity – this should appeal to anyone who supported Ron Paul.
Both progressives and libertarians should see this idea as getting in on the game and amassing some power in order to change the system and laws. It is organizing and something progressives and libertarians can actually do together to stand up against the bought and sold democrats and republicans.
To do nothing is fine, if you are aware and prepared, but even if you are prepared how long can your survive the zombie attack, how long before you run out of bullets?
I don’t think libertarians should sit back on this one – if what happened to the tea party (absorbed into the GOP) happens to this movement (absorbed into the DNC) we’ll never get our freedoms back.
“Government is like the appendix, a mysterious useless organ uncertain of what it did and what it does. However, if it becomes inflamed we are forced to remove it.”
Best to have the correct tools.
@Bev I’m hoping Max and Stacy’s insiders can find more information – I’m asking around as well.
@tom-tom I’ve been ask that question before they passed TARP.
@Greg okay how?
@Silver Phoenix and so far how has that worked out?
@Jimbo officially what – that they are crooks?
@Are you mental – what do you propose and how is that working out?
@trooper dave organization is everything.
@YoLithos contact them and find out.
@Sirial how is it helping bankers more than people? Your’ freeing up their debt so they can becomes more educated and take a more active roll. It’s a force, bankers are outnumbered.
@Capt. Ray and who is going to pull the trigger, you?
okay folks, I got the thumbs up on this from Dr. Michael Hudson.
“Yes, and it’s good.” MH
Take this debt, repackage it, put on a gloss, then lie repeatedly to the bank you intend sell it back to. The shysters will be so starry eyed and full of drink from dinner, just keep saying “bank profit”, they’ll be falling over themselves to buy it. They have rehypothicated so much they won’t know.
Get a really good savy salesman and sell their shite back to them. Not unlike the rebel maintenance man in the film Brasil, connecting the toilet outlet to the suits of the officious maintenance men sent by the authorities to sort out the heating problem. Hoisted by their own peturd you could say.
Profits made go to buy more debt, cycle repeats until the banksters get out of their suits or drown in shit.
Just a thought.
@Peter this is the problem they never buy their own shit, they buy gold and poverty.
They are evil.
There’s no helping them – they are addicted to greed.
Their choices should be few: prison, accompanied by a life of community service, forbidden to work with numbers ever again and attend a weekly 12 step program or the guillotine.
@jischinger The system needs to change, people need to change the system.
Education is important.
The two most important point that will achieve change. The most evolved life form on the planet should have the intellect to achieve a sustainable world of balance and fairness for all.
This kind of solution could be socialized through the churches as well.
I’d still like to hear more (pros, cons).
Sanity check.
Many if not most of the newly debt free people will take up consuming and become indebted again. Unless this action causes implosion of the system and rapid dismantling of the laws that created the problem in the first place, it will reconstitute with the first sign of opportunity. It will take a generation before the people on both the debt and debtor sides, who learned how live in this system change: the system and bad habits wont just go away overnight.
We need a successful credit card exorcism too.
Rev Billy — Shopocalypse is upon us
http://www.youtube.com/watch?v=g1TBR08iNG8
@jischinger
I should not have to. The level of their pretended enterprise necessarily presupposes at least that degree of forethought, vision, and planning – preventive or otherwise.
If they could get at least that far, they are that capable. I fail to see how some sort of regularly updated, anonymized “successful ransom” page would have overburdened their resources. The leaning towards transparency is taken as characteristic of a modern progressive mindset.
I am otherwise indisposed by the thought of mingling with MBAs.
Besides, it’s hibernation month already.
@jischinger
It’s working out more than what’s been done, it’s working out more than what’s being proposed here or Tarpley, as nothing happening works more than doing what’s worse.
>Your’ freeing up their debt so they can becomes more educated
Does no such thing, does not follow.
>and take a more active roll.
Meaningless.
My idea of charity isn’t paying bankers, nor do I feel charitable to the irresponsible that made the society I live in worse, the education is they deal with the outcome of their actions, learning like a kid does from touching a hot stove, nor do I feel moved to charity for people who went into things naively/uninformed, they’re adults, just as I am expected, they can handle their mistakes, like the losses of a newcomer to investing. The result of what Tarpley proposes would be the taxes being passed onto the consumer and rest of society.
@Silver Phoenix apparently you haven’t read or learned anything from history – and I find it odd that you are so unforgiving yet, freely take advantage of the bounty that has been given to you.
@YoLithos
should not have to what, and who are they?
@Jayme pros and cons and all the people behind the development and management.
so far, Dr. Hudson’s endorsement goes a long way with me.
From David DeGraw “not involved, but know people organizing it – i dig it!”
@jischinger
Read back to your own comments. And then further back to what was commented upon. Good night.
Your attempted angle is repugnant. My advantage “given to me” was being responsible in the same environment where others, most, weren’t.
@jischinger – yes, I understand Hudson’s support and that the leverage will induce the system to act against itself. However, this will only work if people don’t find that their new-found jubilee frees them up to go buy more stuff on credit.
I don’t see an advantage over the ‘karma banque’ except many of the OWS people might be more willing to give charity than participate in an energetic (or perhaps confusing) response of hedge fund attacks. In an activist bank, the money could be used to actually return what was put in and yet still have the same value for destroying malicious companies.
Perhaps this effort can be enhanced or methods explained to allow a tax deduction as a charitable contribution as well (?). I proffered the church aspect because this is something the churches should have been preaching about long ago (fiscal responsibility and care for its members and neighbors).
I have already applied debt jubilee for others, so I’m not adverse to the idea but not everyone is suitable as many simply made bad choices and would do so again – imo.
It might be good to get some form of video from supporters such as Michael Hudson to expound on the pros and cons. It would be interesting to listen to, in any case.
@Silver Phoenix you’re rant too often sound like a middle school child
everything you have now, including the land you sit on, was given to you at a price someone else paid for, a price you could never afford – every modern invention was also made available to you at a price you could not afford.
you don’t get to decide the beginning of anything on this planet or in the universe and you won’t be able to take whatever you collect here now when you’re gone.
If you haven’t figured out by now that ALL human beings require the same basics to live then we are going to send you the bill for every road your drive on and every grain of sand that is in the mix of the concrete you walk upon, including labor.
@YoLithos perhaps it would be a good idea to work on your communication skills.
@Jayme on your first point I agree – I need to look further into what exactly will be forgiven – I do not get the impression these debts will be individuals – if they were then one could draw up a contract – which would seem fair – however – if it is medical debt or a continuation of educational debt , that’s a different story.
Course there are calls for an entire debt Jubilee – as was done throughout history- that would have to followed by very strict regulations.
I would like to see strong regulations on the necessities in life (shelter, food, water, education, health care, some energy, and communication) and then a free market for the rest – this sounds more civilized to me – 40 acres and a mule – when you parish it is passed on to someone else –
I know this would be hard for a number of people who have the desire to own what they have and create a pyramid society of control; from hell to the sky – which is why I think it would be necessary for the US to break up into regions.
Though I’m not adverse to charity through churches there can not be any discrimination in their giving I know for a fact many churches do just that.
I will drop Dr. Hudson an e-mail. Perhaps if a few of us do that… or maybe Max or the Paul Jay will ask him to talk about this on their shows that would be even better.
@jischinger
There’s nothing cosmic about the simple situation, people in financial trouble in large part lived beyond their means. Your Elizabeth Warren you didn’t build that routine that you’re using to try to paint people who weren’t reckless as undeserving of the outcome from them being responsible is pathetic. Go play in traffic.
@Silver Phoenix “Go play in traffic.”
I’ll send you all the hospital bill