Occupy Wall Street… While the rag-tag, mostly inarticulate, group of 60’s wannabe protesters have gone, they might have left more than just filth and human waste behind. Rolling Jubilee. Rolling Jubilee is an offshoot of the movement called Strike Debt.
The Rise of Strike Debt
Strike Debt began in New York City but was inspired by movements around the world. The group believes that no one should fall into debt for basic needs like education, healthcare, or housing.
Their initiative, the Debt Resistors’ Operations Manual, offers practical advice to people on how to manage or escape debt. It also encourages individuals to join a collective resistance against the growing debt system.
The network’s main goal is to build a larger movement that finds better ways to fight debt and eventually create a fair economy that benefits everyone — not just the wealthy few.
The Rolling Jubilee Initiative
One of the group’s most remarkable efforts is Rolling Jubilee. Instead of asking the government or the rich for money, they raise their own funds. That alone is impressive.
Here’s how it works: Rolling Jubilee buys debt in the same way collection agencies do — for pennies on the dollar. But instead of collecting it, they forgive it.
Originally, the group aimed to raise $50,000 to buy $1 million worth of debt. According to their website, they’ve now raised over $500,000, enough to abolish $11 million in debt.
A Fresh Take on Debt Relief
Imagine opening your mail and finding a letter saying your debt has been completely forgiven. For many, that would feel like a dream come true.
Although I don’t agree with all of the group’s politics, I respect their proactive approach. They’re actually doing something tangible, not just protesting or demanding change.
It’s important to note that Rolling Jubilee cannot select specific debts to cancel. The organization buys large bundles of anonymous debt accounts, so it’s random who gets relief.
Funding and Structure
Rolling Jubilee operates on donations. They describe their effort as “A bailout of the people, by the people.”
They are registered as a 501(c)(4) nonprofit, which means their primary purpose is promoting social welfare, not charity. So, donations are not tax-deductible. However, 100% of the money raised goes directly toward buying and canceling debt.
The Spirit of Helping Each Other
Even though I don’t fully share their political views, I admire what Rolling Jubilee stands for. It shows that when people have the freedom to choose, they can come together and help one another — without government control.
America has always had a strong tradition of community support, especially in hard times. Rolling Jubilee proves that this spirit of compassion and unity is still alive today.
