Astra Taylor speaking at the Personal Democracy Forum on debt resistance . The Debt Collective in which she is involved are organising a Rolling Jubilee and organising more 1200 students to strike to have their loans wiped out by the department of education.
“We believe people should not go into debt for basic necessities like education, healthcare and housing. Strike Debt initiatives like the Debt Resistors’ Operations Manual offer advice to all kinds of debtors about how to escape debt and how to join a growing collective resistance to the debt system.”
How Does Rolling Jubilee Work?
“Banks sell debt for pennies on the dollar on a shadowy speculative market of debt buyers who then turn around and try to collect the full amount from debtors. The Rolling Jubilee intervenes by buying debt, keeping it out of the hands of collectors, and then abolishing it. We’re going into this market not to make a profit but to help each other out and highlight how the predatory debt system affects our families and communities. Think of it as a bailout of the 99% by the 99%.”