Strike Debt emerged from a series of Occupy Wall Street/Occupy Theory open assemblies that began in May 2012 in NYC.
According to their Facebook page, they are”spreading the word that debt is a global system of domination and exploitation of the 99% by the 1%. Strike Debt links diverse individuals and communities to resist the debt system”.
“Our initiatives include publishing The
Debt Resistors’ Operations Manual, hosting teach-ins and debt
assemblies, supporting the Occupy Student Debt Campaign‘s pledge of
student debt refusal, and launching the Rolling Jubilee, a mutual aid
project in which donors buy debt at steeply discounted prices and then
abolish it. We are also planning creative direct actions across the
country, ranging from symbolic debt burnings to targeted shutdowns of
predatory lenders of all kinds.”
What they do is purchase debt for pennies on the dollar, but
instead of attempting to collect that debt, they abolish it. As per
their website,
“We cannot buy specific individuals’ debt—instead, we help liberate
debtors at random through a campaign of mutual support, good will, and
collective refusal. We kicked off this effort on November 15 with The People’s Bailout, a variety show and telethon in NYC. All proceeds will go directly to buying people’s debt and cancelling it.”
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