Argentina's Economic Collapse - Part 3 of 12

Part 4: http://au.youtube.com/watch?v=4dbb4U8v3YQ

Documentary on the events that led to the economic collapse of Argentina in 2001 which wiped out the middle class and raised the level of poverty to 57.5%. Central to the collapse was the implementation of neo-liberal policies which enabled the swindle of billions of dollars by foreign banks and corporations. Many of Argentina's assets and resources were shamefully plundered. Its financial system was even used for money laundering by Citibank, Credit Suisse, and JP Morgan. The net result was massive wealth transfers and the impoverishment of society which culminated in many deaths due to oppression and malnutrition. Official name: Memoria del Saqueo by Fernando Solanas 2003.

Category:

News & Politics

Tags:

• argentina
• economic
• collapse
• banks
• corporations
• theft
• swindle
• government
• corruption
• IMF
• World
• Bank
• neo-liberal
• policies

[djamorpheus]

at 4:00 that is the key and crux of the argument, and its happening all over the western world. Private companies and their debts are reimbursed with public money without any strings attached, so this "free-market" economy gets bailed out with a socialist, safety-net. How is that at all democratic, when companies are prioritized over the people that have raised the funds from taxes!

[pablo88bsas]

Nestor Kirchner fue un gran presidente argentino, y hoy su esposa Cristina Fernández es una presidenta muy inteligente, ella no es pefecta, ella es humana, pero nadie puede negar que su inteligencia y su capacidad de gestión son excelentes, este año voy a votarla nuevamente. Cristina 2011 =)

[joaquinsalar]

ES BUENO ENDEUDARSE??? JAJAJAJA DIOOOOS QUE TIPO HIJO DE PUTA!

[soyargentinokapo]

@pablo88bsas cristina no es kirchner en un tiempo sabras porque

[tinurieaa]

@36134876 jajaja hooy seguimos pagando esa deuda y ahora lorenzino esta viendo como evitar endeudarse de nuevo.

[NicosNicosNicosNicos]

@7beers Well, watch the rest anyway. If this refers to 1970s debt, banks lent at very low interest rates, which suddenly whooshed up with the oil crisis a few years later, suddenly multiplying Third World debt.

If it refers to Argentine debt between 1976-1983, that is so-called "odious debt", as it was taken in the name of the population,by a bunch of military thugs that the population had not elected (they seized power in a coup).(There is much more to the illegitimacy of the debt)._

[NicosNicosNicosNicos]

@tinurieaa Claro, y es el que habla de la impunidad de los milicos entre otras.

[NicosNicosNicosNicos]

@NaloTJ People in Argentina reacted strongly because they had something to begin with (the biggest middle class in Latin America, comparably solid worker's rights, etc.) and it was suddenly snatched from them.

That is an advantage abundantly shared by Europe. What happens if they have to sell their TV and can't watch X Factor anymore?

[NicosNicosNicosNicos]

@SeekingChristGod I agree with everything you say except one:The expression NWO"is not rooted in political reality.It undermines what you say,unfortunately,as the only link it has with reality is the "New World Order" described by Bush senior in the '90s but which is quite distinct from the spooky meaning attributed to it. As someone said, there is nothing "new" about a world order where a rich few control other people's resources.Injustice,neoliberal­ism, any real name will do.

[NicosNicosNicosNicos]

@fistofthenorthstar89 I really feel he came about as a result of the intense protest movements of the time (he later said words much to that effect later on in an interview). The moral: Protest can force politicians to change, even if just for their own political survival.

[NicosNicosNicosNicos]

@pablo88bsas following the IMF IS corruption. Corruption of a democratic process which is supposed to serve the people, not financial institutions.

[tommy35ss]

@joebarcelona All I gotta say is buy gold and silver