If you owe the bank $100 that’s your problem. If you owe the bank $100 million, that’s the bank’s problem.
- Jean Paul Getty
Yesterday, Maxavision pointed me to a simple, yet brilliant idea, that the folks at Occupy Wall street are into now. It’s called Rolling Jubilee and it’s awesome.
Here is the git of it; as you know, we’ve been dragged into this so called ‘financial crisis’, because the Banks were selling and repackaging debts. Then selling these debts to each other and taking out insurances on the debts. Now I don’t need to go into this to deep, you can find how the derivatives markets work elsewhere, all you need to know is that banks trade debts to each other under the price of the actual debt.
So you can buy a mortgage of say 100.000 dollar for only 20.000 dollar, as you also buy the risk of not getting the money back from the original debtor. These debts are actually available on the free market. So some people from the metamovement came together and thought, why don’t we start buying up those debts and then proclaim them void. In essence freeing up 80.000 dollars!
Let that sink in for a few seconds.
And now check this: The going rate for debt is 1:20, which means that $50.000 will buy you a whopping $1.000.000 worth of debt. Katching!
They started to buy college debts (probably one of the next bubbles) and proclaimed then null and void, freeing debtors across the united states, for far less then the actual debts.
There is a catch. There always is.
As the debts are so entwined and packaged by the Banks, it’s next to impossible to know whose debts you are actually buying. So you might be freeing a debtor who really doesn’t need it, and leave the more tragic cases untouched. Still, with the vast hordes of the internet, it should become possible to sift trough the records and start finding one’s own debt, buying it at banking prices and then proclaim them null and void.
through Nation of Change
Posted: November 29th, 2012
, nation of change
, new world order
, rolling jubilee
, strike debt
Comments: No Comments
“As I understand it, at the last count human information was doubling around every 18 months. Further to this, there is a point somewhere around 2015 when human information is doubling every thousandth of a second. That means that in each thousandth of second we will have accumulated more information than we have in the entire previous history of the world. At this point I believe that all bets are off. I cannot imagine the kind of culture that might exist after such a flashpoint of knowledge. I believe that our culture would probably move into a completely different state, would move past the boiling point, from a fluid culture to a culture of steam.”
from ‘The mindscape of Alan Moore‘
Yes, you have to spent well over an hour listening to the man who gave us Watchman. And who also came up with the dresscode of the global Occupy movement in ‘V for Vendetta’. He may be a bit eccentric, but remember that Alan Moore forsaw important parts of the future in his visions. In this video he argues that after the ‘cultural boiling point’, all bets are of, as we move from a fluid culture to a culture of steam.
Now press play on tape:
He traffics in fiction, not in lies.
Posted: November 28th, 2011
Tags: alan moore
, the beard is wise
, v for vendetta
Comments: 1 Comment
“first they ignore you, then they laugh at you, then they fight you, then you win.”
“And furthermore, I think The Financial System should be destroyed”
- free after Cato the Elder
As I still am a professional VJ I used my gig at Korsakoff, last VJ cafe as an chance to present my new set ‘#occupy Chaos’, of which I will dump some Livemixes on Youtube (or somewhere … ). Still need to figure out some music, I’m thinking about ‘fight the power’ or ‘get up stand up’, still not sure.
But I must admit that I’ve never received so many hugs, ‘boxes’ and handshakes then I did when I premiered that set last tuesday.
Meanwhile the ‘metamovement‘ is gathering some serious pace the last days, and it looks like important parts of the world are joining the occupation this Saturday (15 okt). Will this finally amount to anything? I don’t know, but we need to try. Now. Get over to http://www.occupytogether.org/ for more info and of course the inevitable http://www.occupyamsterdam.nl/
Note to self; need to update the homepage too. Need to get moar out there…
The old man spoke out about OccupyBoston, his home town
Moar on this on the interwubs:
Be sure to check the 4 part edition of “MELTDOWN” at AlJazeera at http://english.aljazeera.net/programmes/meltdown/
And Russia Today has an exellent coverage over at http://rt.com/search/?q=occupy&filter=all
Posted: October 13th, 2011
Tags: cato the elder
, naom chomsky
, occypy amsterdam
, occypy wallst
, ocupy chaos
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