Video: Argentina’s Economic Collapse, What lessons for the World – Full Documentary

Pakalert August 16, 2011 1

From one of the 10 most riches nation on earth to a basket case? why did Argentina betray themselves? do we blame the Americans? the British? or do we blame the people of Argentina to allow this to happen? I don’t blame the poor. i blame the greedy.could it happen to America ? what lessons should America learn from the collapse of Argentina ? It used to be a hundred years ago, Argentina was this very wealthy place and a hundred years later after so many dictatorships, corruption, bad policies, being unstable, and constant stagnation Argentina is at a level where Mexico and Brazil are. Even though the people are well cultured and educated, I think that the many years of corruption and such are too well embedded into these people and the future will always be unsure.

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. The global elite or the Illuminati are directly responsible for this! The Federal Reserve, IMF and World Bank are criminals, traitors. Every country can maintain its own soverignty by printing up its own “money” backed up by gold and silver debt free and interest free. Watch The Secret of Oz, and The American Dream Cartoon. There are solutions. Money=Debt and National Debts are FRAUD, SCAM, AND A CON! STOP USING BANKS & that would be the end of their power. Or use them as little as you can – while you still can. *We* give them the power they have. Don’t borrow from them. Not easy but it *is* doable & there are plenty of people out there who are proving you can do it including myself. I’m a small bus. owner & so are my 2 sons – we don’t borrow money. If 1 needs help, the other 2 help. No cash to buy it, we don’t. STAY OUT OF DEBT. “Owe no man anything except to LOVE him” Debt = Slavery

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  1. Aristotle August 16, 2011 at 8:54 pm - Reply

    Greece in the Hands of the Banksters
    Modus operandi – Examples

    Banks create money out of nothing !!! Believe it or not…… A lot has been written about it..

    The mechanism is called Fractional Reserve Banking by which normally they can lend 9 times the money they have in deposits. It can be compounded again to 81 etc.. Why is this so dramatic and how it hurts people?

    Think about this for a minute… Maybe they pay you 4% a year for the money that you deposit, and they charge 7% to whom they lend it. Total cost for them 4% and interest revenue = 9 x 7% = 63% …leaving 56% gross margin for money created out of nothing…. sometimes they are allowed to create 50 or more times…Interesting, are you allowed to do this? No way

    Now consider the fact that a huge bank (say Goldman Sachs) lends a country (say Greece) money. Nobody thinks too much if the loan is 60% of GDP… They create the money out of nothing, charge 7%, in 10 years compounded plus fees for all the renewals the debt doubles and you end up with 120% of GDP.

    Meanwhile the bank records profits from the interest and pays substantial bonuses to the top tiers and dividends to shareholders.

    So you blame the country for borrowing too much and not paying the interest so that the debt will not balloon… Fine and correct… But what of the responsibility of the bank in knowing if the party can pay or not? Due diligence for the viability of the return of the loan? I am sure that a bank like Goldman Sachs is even more aware than Greece itself of the danger it involves lending and continuously renewing up to this level. Shared guilt so far, just like in the “funny” mortgage lending…

    But why would the bank do such thing since if the country goes broke it will not pay? Well, if the money was created out of nothing it is only numbers in the ledger. No counter party in the back of the bank.

    But wait… look at the link
    The last two sentences:
    Among areas up for sale are the abandoned Athens airport at Hellinikon and Olympic venues that once housed baseball, taekwondo and hockey.
    A racetrack at Faliron, the Mont Parnes Casino north of Athens and several marinas are also for sale.
    Super prime properties, by the sea, close to Athens….
    Right you guessed it…. The banks are claiming that assets be delivered to pay for the loan. German Chancellor Merkel suggested they give some islands in payment. Good business, you give money created (keyboarded) out of nothing and you get hard assets. Land for debt. Keyboards are very very powerful tools. Same with the mortgages and foreclosures. Isn’t it better to get assets than the “Funny Money” without backing created out of nothing?
    Now you may say that the money was loaned by small investors… Yes partly but a small percentage. I will now tell you from another example what happens to the small investors. In Argentina the same thing happened, and the value of the bonds fell to fractions to the dollar. The small investors were negotiated at around 30 cents to the dollar but the big banks and the IMF, Club du Paris are getting paid full value. And there too, the big fish got properties and public companies taking the full nominal value of the bonds in payment…. When they mess up, too big to fail, after bagging profits for years, they get a bailout but do not recur to the previous profits to bail themselves …. Yesss if you say “Socialize the Losses and Privatize the Profits” you are right. Do they care what happens to people? Certainly not.
    End result? Banksters (yes, it rimes with G____sters, so fill in the blank to your taste) shafted small investors and the borrowers with Funny Fiat Money Created Out Of Nothing.
    Why is Greece worse off than Argentina?
    Argentina did not have it as bad as Greece did. It never gave up its sovereign right to issue its own money to a supra-national organism…. The austerity measures the IMF and the Banks push for would have slumped the country in a full depression had it not been for the fact that Argentina had its own Sovereign currency. It could function with it printing to help bootstrap itself up, and so it did. And, yes, it has a fantastic agricultural production to export.
    But Greece? Well it does not have a currency of its own, it is forced to increase all taxes VAT to 23/25%, gasoline taxed to over 8 dollars a gallon, total paralysis or the construction business, severe recession and a drop of 6.6% of GDP and falling. No way to pay … pull your pants down and lets take the pound of flesh, an island? Prime land? Maybe they will ask for the Parthenon.. These guys turned Shylock into a first grader. At least Shylock loaned gold coins, while the Banksters gave keyboarded credit.
    Greece gave up its currency to use the one keyboarded by the Euro Bank and can not stimulate the economy by “Quantitative Easing”. The Banksters and even the “important” members of Europe to whom Greece now “belongs” do not care what disaster falls unto the Greeks. Did they not do it unto themselves?… No, they did not, they were led there by their Politicians who played the game of the Banksters…a bad duo. The trap has snapped.
    And pray, the fact that Greece and all the other countries in Europe do not have a currency could it be linked to what a very famous banker, said?

    “give me the power to make and control the money of a country and I care not who makes the laws”… Amschel Rothschild

    Ask yourself and answer a valid question “Is the Euro a means for the Central Bank of Europe to do what Rothschild said?”… “Who runs the ECB, the European Parliament or the Bankers?”….. “is the President and Executive of the European Union elected by the people or are they appointed from above?”.. “Could it be, in our wildest dreams, that the Elite together with the Banksters concocted this and achieved by printing Funny Money and luring with huge gifts to entice Europe to unite under a central rule, what Hitler could not achieve in WWII?”.

    Greeks need to take their monetary system back under their Sovereignty. Reign in their corrupt or inoperative politicians, who play the game of the Banksters, and stop them from dilapidating the people’s money, reboot its economy and suffer a few years to learn the lesson. Never Again. Live with your own labor not on borrowed money, and even if it is not glamorous or so exciting, but it means FREEDOM.

    Others spell the EU abuses better than I … see European Referendum Initiative at .Google the topic to find Skeptic opinions.

    For how the banks and the Central Banks operate read “The Creature From Jekyll Island” by G. Edward Griffin which is enough reference to clear up the technical points I simply repeat here.

    No wonder we have brilliant people giving us strong opinions on the Banks:

    “If people knew how the banks worked tomorrow we would have a revolution”… Henry Ford…

    “I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs”….Thomas Jefferson (Attributed)

    The bold efforts the present (central private) bank had made to control the government … are but premonitions of the fate that await the American people should they be deluded into a perpetuation of this institution or the establishment of another like it… Andrew Jackson

    “The official wisdom is that Greece, Ireland and Portugal have been hit by a liquidity
    crisis, so they needed a momentary infusion of capital, after which everything would return to normal. But this official version is a lie, one that takes the ordinary people of Europe for idiots. They deserve better from politics and their leaders. To understand the real nature and purpose of the bailouts, we first have to understand who really benefits from them. Let’s follow the money. Already under this scheme, Greece, Ireland and Portugal are ruined. They will never be able to save and grow fast enough to pay back the debts with which Brussels has saddled them in the name of saving them.” …Timo Soini, the True Finn Party, Finland

    How can the Banks do this? They have simply managed to take advantage of legal loopholes they fought very hard to have legislated, which allow them to issue money when the State itself should be doing it…

    You agree? Want to do something? Take your money out of the bank as soon as you get your paycheck.. Use cash…Do not use credit cards.

    Yes, they are BANKSTERS.

    Written by a Greek living in Argentina who saw it happen here and is seeing it happen much worse in his native country …again.

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