Argentina's Economic Collapse - Part 5 of 12

Part 6: http://au.youtube.com/watch?v=lMiedzHeUzg

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

[VyseLegend]

Wow, the story is unfolding point by point exactly as it is in the US.  The road to fascism is only going to end when we fall off a cliff, I fear.

[TheMaiata]

@Kehnidael Una democracia que se caga en el pueblo, no es democracia, es una fachada. Pero la democracia (si verdaderamente se llevara a la práctica) sí, funcionaría bien.

El problema es cuando nos creemos ciudadanos, pero somos simples consumidores... Capitalismo y Democracia no son antónimos, pero tampoco son sinónimos. No hay que confundir las cosas.

[hvacrjohn]

Wonderful documentary.

[joebarcelona]

@kevreilly7 Except in a hyperinflationary environment, in which the lender would be the borrower's beach, assuming the government does not step in and create some additional advantage for the lender, like hyperinflating the balance due, etc...at the expense of borrower, which seems likely, under the current configuration of financial industry influence. When I think of politics, I don't feel free.

[trapedd]

@kevreilly7 Well said!

[kevreilly7]

@joebarcelona the borrower is the slave to the lender

[joebarcelona]

50% interest on credit cards??? They should have called, and asked for lower rates...

[joebarcelona]

Somos levantamanos...

[joebarcelona]

Government voting for laws against the nation...

[joebarcelona]

"The politicians who voted for privatization, were criminals..."