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You don’t fight oppressors by giving them money.

November 15, 2012

Rolling Jubilee is at best a somewhat limited form of charity. At worst, it is a massive shift of power to creditors.

That the financial system is a house of cards at risk of collapse from too much default is the best political leverage debtors have. Buying up debt at creditors’ asking price (which will increase in proportion to the campaign’s success) just strengthens their position.

Relieving the strain on the debt collection system (courts, re-possessors, zombie debt agencies*) would bring the hammer down on individual debtors.

Strike Debt is aptly named since it advocates the literal opposite of a potentially effective debt resistance tactic with some history, the Debt Strike.

*Desperate attempts to stay in business by stepping up the pressure on debtors would precede the equilibration of the Zombie debt market, I imagine.

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