Occupy Wall Street campaigners buy-up debt to abolish it

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posted on Nov, 10 2012 @ 04:54 AM
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reply to post by randomtangentsrme
 


Not everyone who lost their house was due to being irresponsible with their money.......

My house back in NY was 3/4 paid off when it was forclosed on, about 400k put into it altogether with renovations. It had nothing to do with being irresponsible. It had everything to do with the real estate market crashing, and taking my flooring business with it. Can't pay the bills with no money coming in. It took about a year to burn through all the savings we had, so it's not like we didn't have money put away for a "rainy day". Not everyone loses a house because they were living above their means, I know a lot of other people like me in the tristate, all construction guys that lost everything. luckily we picked up this small house up here 10 years ago for dirt cheap as a vacation house. If not for that, I would be on the streets of NY now.

As for the OP, I am happy to see people doing good deeds like that for their fellow men. I may be old fashioned, but I believe in charity. When I was working my ass off and didn't have time, I donated a lot of money to charities for kids. Now that it's the other way around I donate time instead of money.
edit on Sat, 10 Nov 2012 04:57:59 -0600 by TKDRL because: (no reason given)




posted on Nov, 10 2012 @ 05:36 AM
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www.abovetopsecret.com...

I was listening to a guy talk about this on coast to coast.
supposedly, that lawsuit has proof that may show that the tarp funds that we helps pay for was funneled, laundered, ect, into the pockets of a few....

which seems to me was.setting them up to have plenty of money to pick up the more solid assetts such as lands and homes for pennies on the dollar before the inflationary effects of that large sum of money hit and left us all up a creek without a paddle...

any attempt to keep at least some of the land out of the hands of whoever those few that were enriched is welcomed...



posted on Nov, 10 2012 @ 07:38 AM
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Originally posted by randomtangentsrme
Awesome. Another way for people who were not responsible with money to be rewarded for their ineptitude.
When I was growing up, you got rewarded for doing things correctly.

Hey world, where's my bailout for having no public debt, and deciding to live within my means?


Yeah, all debts are valid right? Banks never do any wrong. and me not doing anything about a bill i got for something i never owed makes it all my fault, right? And its ok when a bank charges you a late fee that puts you over your limit and then charges you an over limit fee right?



posted on Nov, 10 2012 @ 07:38 AM
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Originally posted by cornucopia
not everyone is good at the material world bro...

this way of life is not natural...many of us struggle because we jsut wish to be free as spiritual beings...


this needing money to survive sucks, lol

really it is not natural.
edit on 9-11-2012 by cornucopia because: misspelling..lol


You should go live in the jungles and catch kill and cook your own food day in and out then eat plants and grubs for medicine and then when you rolling around on the floor writhing in pain from your now about to burst appendix. Just remember that we have evolved OUT of the jungles not to evolve back. Money is in itself not the problem. Its a tool that can work if used properly.

Its the psychotic maniacs that run things who have a inferiority complex that are the problem. Dont loose your eyes off the prize



posted on Nov, 10 2012 @ 07:58 AM
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reply to post by TiM3LoRd
 


Its the banks that make money evil. and the government, which is...run by banks. Hmm.



posted on Nov, 10 2012 @ 08:07 AM
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Originally posted by phroziac
reply to post by TiM3LoRd
 


Its the banks that make money evil. and the government, which is...run by banks. Hmm.


I dont think its that simple. There are far more complex equations going on than simply "banks are evil"

A bank is an intimate object in fact its not even really an object, its more an abstract idea. An agreed idea but none the less abstract. It is powered by people, people with hopes and fears. The problem is that the people driving the idea are slightly unstable. So we need to fix them first. Because it doesnt matter what system we adopt they will always find a way to corrupt it. Things are not what they appear to be my fine feathered friend.



posted on Nov, 10 2012 @ 08:27 AM
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hi all, did you see on yahoo how occupy people are helping the people hurt by sandy?

so awesome!

wow, consciousness is rising fast!

terrence mckenna was right...timewave zero....energy...consciousness..


thank you all, thank you
edit on 10-11-2012 by cornucopia because: changed some words



posted on Nov, 10 2012 @ 09:30 AM
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reply to post by randomtangentsrme
 


Sorry, i thought i was replying to fyrebird.

see how easy mistakes happen?



posted on Nov, 10 2012 @ 11:20 AM
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reply to post by randomtangentsrme
 


I have to mention what I think is a major flaw in our monetary system,
If in Canada say, 98% of our money in circulation is debt based & owed back + interest, then where does the money to pay back interest come from?

What about a global financial system, where does the money to pay back interest come from?

If I was the only person in the world with money and supplied the world with it, and charged interest on every $ I supplied, where would the interest come from?

Am I missing something?



posted on Nov, 10 2012 @ 11:35 AM
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reply to post by jude11
 


I agree, the banks got bailed out, and if they couldnt live within their means they deserved to go down, not the people who lived within their means and then lost jobs because of the rich. I guess people forgot why all these people need help now......its not always the poor persons fault that they are poor now.



posted on Nov, 10 2012 @ 11:50 AM
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Originally posted by randomtangentsrme
reply to post by cornucopia
 


Why? Because I cannot afford to. I work in the arts.
A good year for me is $30,000. An average year is $20,000. My best year has been $50,000. I live in California, so this is not a lot of money.

So again I ask, why reward those who were not responsible with their money?


I live in California and thats a lot of money to me.

Also a lot of people here, at least that I know, got screwed on neg am loans. I have a brother in law that put my parents in one. Can't stand the guy.
edit on 10-11-2012 by lucidclouds because: (no reason given)



posted on Nov, 10 2012 @ 11:53 AM
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reply to post by cornucopia
 

uh huh... and how do you get on that list.. i seriously doubt it most all the occupiers I know are beyond broke..



posted on Nov, 10 2012 @ 11:55 AM
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This is actually a very good concept.

While I don't think OWS will be able to wipe out the entire 16 trillion debt, it could open the door to the lead the way to an entirely new trend of entrepreneur.

Basically, what's happening is, you become a debt-broker and make dirt cheap deals. The very first thing that comes to mind is, can I buy off my own debt or can I hire someone to do it for me? My heart rate is actually going up a notch thinking about the possibilities.

S&F



posted on Nov, 10 2012 @ 12:19 PM
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reply to post by cornucopia
 


This is awesome! I am so glad to see this happening. I hope that they buy some of my student loans.



posted on Nov, 10 2012 @ 12:26 PM
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How many of the people who are in favour of this have donated to this 'charity' to help them do it?

They're asking for money to let them do it. So I guess those in favour have donated?



posted on Nov, 10 2012 @ 12:27 PM
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Everybody flaming them for this...really...what happened to it's my money I'll do what I want with it? I mean it's ok when it involves hoarding it, but when it's someone doing good, it's then not their money to do what they want with it?
randomTangetsRMe, it's their money, not yours they are using to do this, and so stay out of their pockets, how 'bout that?
edit on 10-11-2012 by ldyserenity because: wrong person...soorrrryyy



posted on Nov, 10 2012 @ 12:29 PM
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Originally posted by khimbar
How many of the people who are in favour of this have donated to this 'charity' to help them do it?

They're asking for money to let them do it. So I guess those in favour have donated?


Then those people that are donating, well it's their money also, to do with as they want so yeah hopefully unlike most charities it's not going in their pockets and really goes to what they are doing 100%. If I had know about this a month ago I'd have donated.



posted on Nov, 10 2012 @ 12:33 PM
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Originally posted by cornucopia

Occupy Wall Street campaigners buy-up debt to abolish it


www.telegra ph.co.uk

A group of campaigners linked to the Occupy Wall Street movement is buying-up distressed loans for pennies in the pound and cancelling them to "liberate debtors at random".
(visit the link for the full news article)





The Great Depression plus harsh drought conditions were hard on farmers in the 1920s and early 1930s. Many could not make enough money to pay the mortgage. As a result, banks would foreclose on the property. They would then sell the farms at public auctions.

Farmers resented the foreclosures. When they would hear about an upcoming auction, they would gather on the day of the auction and make it clear to officials and potential bidders that bids from outside the farm community were not welcome.

"When the bidding commenced, someone in the crowd would start it off at fifteen cents or so, and it rarely got beyond a few dollars before the bidding stopped and the auctioneer would close the sale. If anyone in the farmyard might be so ignorant of what was going on as to put in a serious bid, a suitably burly man would be likely to step up and put a hand on his shoulder with the words, 'That bid's a little high, ain't it?'"


It has been done before. successfully I might add, but the banks really didn't like it.



posted on Nov, 10 2012 @ 12:36 PM
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Something that always bothered me about the bank bailouts. The investors took risks and failed and then we gave them money to cover their losses. What happened to the "toxic assets" that the bailout money covered? Shouldn't that property now be owned by the people?

Let's say there was a mortgage given to someone that could not afford it. Now the banks have the debt and the deed to a piece of property. Now in a normal scenario, that would be auctioned off for a profit or a loss...however...we gave them money to cover that debt....so...where is the deed? I want my 1/330,000,000 of a share of that piece of property. My money went to cover the price of it so....where is it now?

I saw someone railing about people being irresponsible...Wall Street was irresponsible and we bailed them out. I am basically debt free (well accept for a car loan) and I am pretty happy about that. Debt is bad...it is a soul killer. However, the fact that the "money guys" needed to be bailed out says alot and knocking on some folks that got lured into a trap isn't quite fair.



posted on Nov, 10 2012 @ 12:37 PM
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Originally posted by cornucopia
not everyone is good at the material world bro...

this way of life is not natural...many of us struggle because we jsut wish to be free as spiritual beings...


this needing money to survive sucks, lol

really it is not natural.
edit on 9-11-2012 by cornucopia because: misspelling..lol


One way or the other, you have to work to provide for yourself. I swear some of you have the minds of little kids. Does your mommy take care of you?





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