http://occupytogether.com/forum/categories/jubilee/feed.rss Fri, 24 May 13 10:59:41 -0600 Jubilee en-CA http://occupytogether.com/forum/discussion/2030/global-debt-jubilee-a-global-demand-for-a-global-movement Wed, 28 Dec 2011 21:29:30 -0700 marchelo 2030@/forum/discussions
Some web searching revealed that many have touched upon this same thread. Here are some excerpts I found particularly insightful: Quoted from http://alcuinbramerton.blogspot.com/2011/06/universal-debt-forgiveness-and-imminent.html

• When debt is fraudulent, debt forgiveness is the logical and only remedy.
• Debt or credit which cannot be paid back is never an asset; it is always a liability.
• All debt which charges a percentage originates in delusion. Debt grows exponentially indefinitely; income and other financial growth cannot do this.
• The total amount of money in circulation today in the West can only pay for a tiny fraction of the total private and public debt in the West. This fact is evidence of systemic fraud.
• Debt is manufactured through fraudulent means to reward a creative criminal elite.
• If the intention of a financial transaction tied to a loan, or tied to a financial inducement, is extortion, if it is, in effect, an elite Bankster scheme to bamboozle the borrower with small print or to blind him with science, that loan or inducement, should be struck off the record immediately and completely. The debt was not incurred with the informed consent of the borrower. The debt did not benefit the borrower. And the élite lender was well aware of these facts when the loan papers were signed.
• You cannot solve the debt problem by issuing more debt. You solve the debt problem by cancelling, completely, all national, corporate and personal debt. You do this simultaneously across the planet, and you do it permanently.
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When debt is fraudulent, debt forgiveness is both the logical and the only remedy for the situation. Whatever the name you give to the process - erasure, repudiation, abolishment, cancellation, jubilee - debt forgiveness will eventually have to emerge at the forefront of global efforts to solve the ongoing systemic financial crisis.
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The only way to erase counterfeit money and counterfeit assets amounting to hundreds of trillions of dollars is to erase the debts associated with these fake assets. They are not toxic assets. They are fake assets.
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Debt forgiveness accomplishes two important things. First, it eliminates the increasing and outsized portion of productive enterprise which is being employed to pay off unproductive obligations. Second, it clears the ground for new opportunities, new thinking, creative invention and positive entrepreneurship.
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It reflects the century-old legal principle of the Doctrine of Odious Debts.

The Doctrine of Odious Debts was created to further international finance by limiting the ability of governments to repudiate debts. Three conditions had to apply before a sovereign state could repudiate a debt:

(1) The debt must have been incurred without the informed consent of the citizenry of the state.
(2) The debt must not have benefitted the citizenry of the state.
(3) The lender must have been aware of conditions (1) and (2) at the time that the loan papers were signed.

The United States employed these principles after the Spanish-American War to repudiate the Cuban debts.
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The situation is plain. You cannot solve the debt problem by issuing more debt. You solve the debt problem by cancelling, completely, all national, corporate and personal debt. You do this simultaneously across the planet, and you do it permanently. And then you recapitalise the whole bangshoot using an established resource base such as The World Global Settlement Funds and the associated US Dollar Refunding Project.
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Interestingly, the core idea of global debt forgiveness is not restricted to the benevolent ivory towers of economic utopians. It is beginning to be talked about, in public, by national parliamentarians.

At the end of August 2011, in Ireland, the Irish Finance Minister, Michael Noonan, had to respond to organised calls for debt forgiveness in connection with his EuroZone nation's struggling mortgage borrowers. The story was run prominently in the Business section of the Irish Times on Friday 2nd September 2011.

In Greece, debt forgiveness appears to be further advanced than in Ireland. At the end of September 2011, an important legal precedent was established. In accordance with a district court order in Larissa, an unemployed Greek woman who owed a little over 26,000 Euros to two banks, Eurobank and National, received a full debt discharge on her outstanding loans. The woman had a perfect payment record for eighteen years, and only fell behind when she lost her job. It is thought that the decision will probably be adhered to in thousands of similar cases.
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Here is another jubilee resource that was packed with info and articles going back for years. Sadly nothing about how the Occupy movement could be the spark needed set the idea into action...
http://spiritofjubilee.com/

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So I put the notion to the Occupiers here assembled, is a Global Debt Jubilee a fitting demand for the now Global Occupy movement?

Could a massive global strike be effectively coordinated to pressure our world leaders into such action?
]]> http://occupytogether.com/forum/discussion/2258/envisioning-ending-foreclosures Tue, 14 Feb 2012 06:47:55 -0700 Sea 2258@/forum/discussions