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Does Ireland need a Jubilee?

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  • 12-11-2012 11:15pm
    #1
    Merrion
    Registered Users Posts: 1,421 ✭✭✭


    An interesting idea, the rolling jubilee fund are buying US debt at pennies in the dollar and tearing up the contracts - should Irish charities do something like this?

    Could this even work here?


Comments

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    #2
    Big Bottom
    Registered Users Posts: 346 ✭✭Big Bottom


    What does that even mean?


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    #3
    reginald
    Registered Users Posts: 97 ✭✭reginald


    mmm good question, that would be an ecumenical matter imo


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    #4
    Senna
    Registered Users Posts: 8,800 ✭✭✭Senna


    Even for a basket case like Ireland, our debt is still being bought for high rates, nowhere near a couple of cents on a euro.


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    #5
    Rigol
    Registered Users Posts: 465 ✭✭Rigol


    so wait...we give the govt money.....so we don't have to give the govt money.

    all while giving the govt money


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    #6
    Fr_Dougal
    Registered Users Posts: 9,167 ✭✭✭Fr_Dougal


    reginald wrote: »
    mmm good question, that would be an ecumenical matter imo

    Nope.


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    #7
    dj jarvis
    Registered Users Posts: 3,485 ✭✭✭dj jarvis


    if it was possible then why not do it , if the debt was bought for a cheap price

    every little helps


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    #8
    Merrion
    Registered Users Posts: 1,421 ✭✭✭Merrion


    Rigol wrote: »
    so wait...we give the govt money.....so we don't have to give the govt money.

    all while giving the govt money

    Ideally the charity or fund or whatever would buy some debt (this reducing the bank or government debt exposure) and relinquish the contract this freeing the debtor to allow them to become a functioning member of the economy again.

    This in turn would reduce the default risk of all the other debts making them cheaper to service.


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    #9
    EoghanIRL
    Registered Users Posts: 4,080 ✭✭✭EoghanIRL


    The little skangers and scum bags could go there


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    #10
    dj jarvis
    Registered Users Posts: 3,485 ✭✭✭dj jarvis


    Rigol wrote: »
    so wait...we give the govt money.....so we don't have to give the govt money.

    all while giving the govt money

    i see what ya done there

    but , you are missing out the social justice and solidarity side to this

    does not matter who receives the money , it matters who's debt is cancelled ,
    and if a random donation of 10 euro makes this a reality , then if you can you should


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    #11
    Wacker The Attacker
    Closed Accounts Posts: 7,473 ✭✭✭Wacker The Attacker


    Merrion wrote: »
    An interesting idea, the rolling jubilee fund are buying US debt at pennies in the dollar and tearing up the contracts - should Irish charities do something like this?

    Could this even work here?


    Who is going to pay for this exactly?


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    #12
    Sorcha16
    Banned (with Prison Access) Posts: 343 ✭✭Sorcha16


    What Ireland needs is a miracle


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    #13
    im invisible
    Closed Accounts Posts: 4,372 ✭✭✭im invisible


    yeah, definitely


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    #14
    face1990
    Registered Users Posts: 1,039 ✭✭✭face1990


    im invisible wrote: »
    yeah, definitely

    Ah, that's what those things are called!


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    #15
    squod
    Closed Accounts Posts: 8,704 ✭✭✭squod


    Similar discussion on the Keiser report last night. Must be great being the laughing stock of most of the developed world Enda........

    https://www.youtube.com/watch?v=-Jp9eRisyh0


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    #16
    policarp
    Registered Users Posts: 3,661 ✭✭✭policarp


    Yes. . .
    A good clip around the ears. . .


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