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Argentina's Financial Collapse - Past Is Prologue
The following rather stunning documentary provides a critical insight into what Europe (and Argentina once again) could well be progressing towards. There is a reason we highlight the 'scariest chart in Europe' as that of youth unemployment and with the central banks printing money at ever increasing paces and the next round of global competitive devaluation beginning, the debt slaves will suffer ever more. In 2001, Argentina collapsed; after many years of apathy in the country, the insurrection exploded. As TopDocumentary notes, the spontaneous revolt of 'faceless' people meant saucepans were being banged in every neighborhood.
What happened to Argentina? How was it possible that in so rich a country so many people were hungry? The country had been ransacked by a new form of aggression, committed in time of peace and in a democracy. A daily and silent violence that caused greater social disruption, more emigration and death than the terrorism of the dictatorship and the Falkland Islands war.
Ever since independence, almost 200 years ago, Argentina’s foreign debt has been a source of impoverishment and corruption and the biggest scandals. Since the first loan negotiated by Rivadavia in 1824 with the British Bank Baring Brothers, the debt was used to enrich Argentinean financiers, to control the finances and empty the country of its wealth.
This foreign debt always went hand in hand with big business, and with the complicity of nearly every government, from Miter and Quintana to Menem and De la Rua. The policy of indebtedness gave rise in Argentina to generations of technocrats and bureaucrats, who favored banks and international corporations over their own country. Educated at Harvard, Chicago, Oxford or Buenos Aires, their portraits hang in the official galleries.
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Please, how does that translate? (Googled it, but ... .) "teoría de los dos demonios?" (Sounds like the Hegelian dialectic distilled.)
Literally, it is "theory of two demons" or "theory of two evils".
In english that'd be something like from the frying pan into the fire, or, you can't say one side was evil, because the other side also did evil things.
However, it's a fallacy, because it is normally used to exonerate the "winning side" (govt) of their evil actions towards the population on the idea that some small groups who also undertook criminal activity self-proclaimed to be on the opposite side, that of the people. Ask the people, though. they are not on that side, they just want to be left in peace.
I think that is why most of us are here, to figure out the scope of the betrayal. Thanks for your input!
To get a better idea of how America fucks up the world see John Perkins Confessions of an Economic Hitman http://www.youtube.com/watch?v=yTbdnNgqfs8
Argentina is going to "defalk" on it's obligations ! Chavez is in Habana .... avoiding being served by bill collectors ! He had to sell one kidney .... to pay off his Citibank credit card .... life is tough ! "Argentina is toast !".... Tangerine
Send Chris Hedges and Paul Krugman as special envoys .... they'll come up with a winning plan to put Argentina on the road to "Rio Recovery" ! Those Olympic games are going to be a real laugher !
I am taking a break from viewing the whole video as I was literally feeling nauseous at the level of treason against a whole nation of people.
The nausea is compounded by the knowledge and suspicion that even we are being sold, ransacked and lied to as if we are laboratory rats good for nothing else except the treadmill.
All of the guns of the people in the USA will remain silent except for the last person. That one person will finally understand that he is the next victim of the system but it will be too late because he remained silent as each previous victim was "silenced".
Chances are that that last shot from his gun will be to his own head when he realises how stupid he has been.
"Chances are that that last shot from his gun will be to his own head when he realises how stupid he has been."
.... Or how alone he has been because nobody else would step up.
Yes that is because all these arm chair soldiers (cowards actually) spend their time moaning and bitching on ZH (while stroking their barrels and running ammo through their hands as if it were gold).
Meanwhile the elites and the captured government keep on fucking you hard - but you keep on taking it - there is no breaking point so long as the NFL triple headers and 3 for 1 Dominos offer remains valid.
Pathetic Cowards
standing up doesn't mean throwing your self into a useless gesture of defiance it means educating yourself and those you care about being able to deal with the reality you face the best you can
nice rhetorical flourish...
since standing up indeed does not mean 'useless gesture of defiance' does it therefore means 'educating yourself...about dealing with the reality you face as best you can'???
No.
Standing up means er, standing up: to deceit, to oppressive state-corporate collusion, and the unlawful actions of their enforcement minions. Our forbears didn't win their freedoms through educating themselves to dealing with their reality bud. They picked up their weapons and smote those who sought to dispossess them.
The movie seems to be "Memoria Del Saqueo"
http://www.imdb.com/media/rm1011913216/tt0400647
"Memoria del saqueo", Pino Solanas.
You're right.
I was here.
Exactly the same is going on in Europe. Greece is at that point, people ransacking supermarkets. All over Europe police is repressing protesters. Identical images: you just have to go to youtube. Plenty of it.
The process is exactly the same. The Euro is the same scheme as the "convertibility" we had, 1 to 1 the pesos to the dollar. Identical consequences. There's NO EXIT from that kind of situation within the Euro.
I've been saying this since 2008.
What happened to Argentina? How was it possible that in so rich a country so many people were hungry?
In another of a series of totally random coincidences...
we find a social grouping distinguished by it's ability to stay out of the glare of public awareness, while directing political and economic affairs. The current "President" for instance is the widow of a man whom Bnai Brith described as "an impressive leader of the Argentine people and B’nai B’rith was fortunate to have had many positive encounters with him." That Kirchner, like so many others placed in power over the people of the West, was of Marrano(Crypto-jewish) extraction should be glossed over as of zero significance, it goes without saying.
Similarly, the fact that Mossad operatives conducted a bombing of a jewish centre in Argentina in 1994, killing 84 and wounding hundreds more, which the complicit media then blamed on Moslems, should be in no way related to the more recent affair in which Mossad operatives arranged the insurance fraud incident in NYC which resulted in the deaths of thousands and which the complicit media blamed on Muslims....any similarity between the rapidly plunging fortunes(and liberties)of the two nations is likewise mere random coincidence. {Past is Prologue indeed!}
Now move along to your new low carbon footprint cardboard living space underneath that overpass!
What happened in Argentina that drove to the default in 2001 is in progress in Europe. USA on the other hand has been owned by the oligarchs, I'd say, almost from the declaration of independence.
USA is the closest country to 1984's INGSOC.
Remember? "War is peace", "freedom is slavery"...
"Operation Enduring Freedom" (OEF); official name used by the U.S.
government for the War in Afghanistan.
And so on.
No man is an island, entire of itself; every man is a piece of the continent, a part of the main; if a clod be washed away by the sea, Europe is the less, as well as if a promontory were, as well as if a manor of thy friend's or of thine own were; any man's death diminishes me, because I am involved in mankind, and therefore never send to know for whom the bell tolls; it tolls for thee.
John Donne
Thanks for posting the movie!
Kirschner and widow have followed the policies demanded by the film maker......how's that working out?
Maybe not too badly. Probably a good thing not to have access to foreign bond markets, and as long as the terms of trade for Argentiona's food exports stay favorable GDP growth should stay high.
Exactly. Look at our fundamentals.
The cry: “I don’t want a state of siege or to be a pawn of the International Monetary Fund.”
The noise, the fires, the police riding raging horses bearing down with clubs and whips on the protesting Argentineans...
Take note… from this video… of the ravages and impoverishment of debt - of the terrifying reality of where mankind is headed if the growing pile of manufactured debt and usury by the international bankers is not stopped, of the betrayal of millions of workers to the policies dictated by the World Bank and the IMF…
A chronicle of treason: the promises of the leaders not to bow to the international financial powers and the privileged local groups and the betrayal …
Where international corporations use their economic influence to bribe and otherwise manipulate government officials to pillage the country's wealth and send the people into dire poverty… of a country on its knees that formerly produced 95% of what it consumed…unable to compete, hundreds of factories and workshops closed, millions of workers and pensioners sacrified, a country that must henceforth import…
The results of how the bankers and the IMF and corrupt government sank Argentina can now be believed in America after two decades of massive corruption and coverup by the bankers and their banker-bought elections and politicians…
Random snatches of the commentary are now all too familiar in the United States and the EU:
What happened in Argentina? How was it possible that in so rich a country so many people were hungry… the country ransacked by a new form of aggression… a daily and silent violence… of never-ending debt…of impoverishment and corruption and scandal… to enrich Argentinean financiers… to control finance and empty the country of its wealth… an alliance of foreign banks and multinationals come to power…plunder…pillage of the people…with government complicity…the police protecting the thieves… the media praised…the elderly facing losses of all their savings… a swindle to make the government responsible for the debts of the banks…
and the dying children...
You think it can’t happen here? Think again; it’s already happening.
+1 Tehy are all corrupt JR they dont give a fuck about the Argentineans kids, women and old coots. It's alawys the big guys the two incestuous the crops and the banks.
Is Argentina important to the USSA like Zimbabwe! I liked the read on Egypt drying up their Foreign Reserves, because when this shit happens their egyptian pound will be devalued faster than a rock falling in hell. But wait, they have the Suez Canal so America / Qatar / KSA and the GCC will replenish their reserves, they dont want a secondary revolution or maybe wrong Answer?!
Teh secon scenario they will let Egypt go into crises and devalue to throw the brotherhood (i dont know if they with or against the USSA), but here they lose access to the Suez Canal
either way, the people lose ...
To get a better idea of how America fucks up the world see John Perkins Confessions of an Economic Hitman http://www.youtube.com/watch?v=yTbdnNgqfs8
To get a better idea of how America fucks up the world see John Perkins Confessions of an Economic Hitman http://www.youtube.com/watch?v=yTbdnNgqfs8
Then for another Shocker (to some) see The Israeli Generals Son http://www.youtube.com/watch?feature=player_embedded&v=TOaxAckFCuQ
Cue the music please:
Chorus:
'Don't cry to me Argentina!
cause you did it to yourselves
and once again, your in a living hell'
WRONG. And we're working on it, I'd say, pretty good.
People is in holiday for Carnival, down here.
http://www.pagina12.com.ar/diario/sociedad/3-213647-2013-02-11.html
"Tourism boom" for Carnival holidays.
And if it's good for us, we're gonna devaluate, I think.
You can do that if you own your Central Bank.
What leads me to a question: do you know who owns the FED?
http://roarmag.org/2013/02/photoshopping-away-police-repression-in-greece/
Mexico back in 1995, the situation was so fucked up that Robert Rubin had to convince the US government and Clinton to bail out Mexico, because it was a trading partner with the USSA, they had to print $20bn and the IMF handed out 18bn, Canada 1bn.
But the question how did all this started? In 1994 a revolution and rebellion broke out by Zapatista guerrillas, then followed by the assassination of Louis Colosio the next presidential candidate, then the kidnapping of Alferedo Helu (is this guy Lebanese?!) His family paid 30Mio USD to bail him out. and finally the assassination of presidential candidate Ernesto Zedillo.
Of course, when you dry up the foreign reserves from 30bn to 6bn what happens is that you currency will be devalued, in Dec 1994, the peso was devalued by 15% to 25cents to the peso , then it collapsed to 17 cents to the peso.
This is stackers porn . If only the S&P , Gold , Silver , the VIX and every other Bear trade would............. work.
This, a gift for sunday, mi friends. Kisses from Argentina.
https://www.youtube.com/watch?v=jBKglzZHAhU
Cat's government in Mouseland.
Why is it that Argentines never seem to learn their lessons? But then, neither do we!
Maybe they have learned their lessons. Perhaps there are two separate students... those in power and those under power. Those in power have learned to manipulate the system to their benefit, while those under power lack the force to change it. Those under power learn to survive w/o relying on the monetary system while those in power learn to steal from the monetary system. The good ol' US is no different.
But we have guns, not saucepans.
I visited Argentina in 1989 on a business trip for two or three weeks. Little town near Cordoba. At that time, inflation was rampant. The local shops would identify their merchandise with letters or ID numbers, so when prices would rise each day, then merely had to print out a new lookup chart, which assigned new prices to the identifiers, thus saving them from having to replace the labels on the goods. The people got raises every two weeks, and you learned to buy your gas as soon as you got paid, lest you suffer a higher price the next day.
Very interesting comment. Thank you for this insight.
UofC is associated with Chile, and not Argentina. But I guess the Obama narrative has to lump the Chicago School with the rest of the losers and shit on them equally. "Nothing works, except that which we say works."
what's with the frying pans ????
It is a shame that in today's world independence (from the global banking system) and financial collapse are synonymous. It is not hard to assume that a global banking control system once digging its fetid claws into a country, its leadership and people will not let go and should the country try to regain its freedom, "economic collapse" and ostracizement(?) from the global financial/trading community would be assured.
This is irrespective of the country internals. Before attempting independence a country would have to be sure that they have sufficient reasources and trustworthy friends to not care about the so called economic collapse... and so life could go on pretty normally.
Another Krugmanian "remarkable success."
Kudos: http://tradewithdave.com/?p=15418
"The policy of indebtedness gave rise in Argentina to generations of technocrats and bureaucrats, who favored banks and international corporations over their own country. Educated at Harvard, Chicago, Oxford or Buenos Aires, their portraits hang in the official galleries."
Quite so. Wherever you go in the world, the corridors of power are always adorned with portraits (or statues) of those who were despotic and instrumental in destroying their own country and the freedoms and wealth of its citizens, ultimately crushing and turning them into slaves. The UK is no exception, in fact it's a leader in this farce. Right in front of the Houses of Parliament is a larger than life statue of Cromwell who arguably fought a civil war -- not to uphold the citizens as the ultimate authority -- but a war between two factions of the ruling elites (ie: the Monarchy -vs- Rich Land Owners, such as himself). And scattered all around London are other statues of historical despots.
Venezuela up next...
As usual with 'americans', drama in action.
The US can not be the next on the list since the US market is the ultimate consumption sink in the world.
Every other place in the world is being drained to favour US consumption.
Smithian economics is based on transfering wealth from an exterior to an interior. The US is the inner core.
Debt in the US reflects the large excess of inflow while debt for countries like Argentina reflects ways to increase the outflow.
Once again, the article pushes forward propaganda.
Leaders do what they can.
Here's a situation created by 'americans' economy.
Zone A and Zone B. B is rich in uranium.
Zone A transfers uranium from B and rejects uranium waste from consumption in A onto B.
Leaders on the zone B wont use the money they get from the deal to build a luxurious mansion on B. They are all going to try to relocate to A.
Argentina, it is the same. It is drained off and any argentinean who capture some bits of the fluxes wont use that to stay in Argentina but relocate where their wealth is actually consumed.
Human beings follow resources. And Smithian economics is all about moving resources and their consumption towards a center.
not bad
but "neo-liberalism wild privatizations globalization & co" was bad, ok
10 years later "kirchner socialism & co" is bad, ok
and so circle jerk continues, sames jews, different names, goyim crushed...
I actually knew two...one worked in a socal chevy factory in the 60s...worked for another one circa 1990. he was a vp but always showed up late after his 60 mi commute. he and his wife also ran a local coffee shop so he had to help open up. He was fun to work for, black sense of humor. Seemed to work hard enough to me, if not always for our employer.
When a despotic regime contracts a debt, not for the needs or in the interests of the state, but rather to strengthen itself, to suppress a popular insurrection, etc, this debt is odious for the people of the entire state. This debt does not bind the nation; it is a debt of the regime, a personal debt contracted by the ruler, and consequently it falls with the demise of the regime. The reason why these odious debts cannot attach to the territory of the state is that they do not fulfil one of the conditions determining the lawfulness of State debts, namely that State debts must be incurred, and the proceeds used, for the needs and in the interests of the State. Odious debts, contracted and utilised for purposes which, to the lenders' knowledge, are contrary to the needs and the interests of the nation, are not binding on the nation – when it succeeds in overthrowing the government that contracted them – unless the debt is within the limits of real advantages that these debts might have afforded. The lenders have committed a hostile act against the people, they cannot expect a nation which has freed itself of a despotic regime to assume these odious debts, which are the personal debts of the rule
Bernanke is the enabler of Obama's Odious Debt and responsible for this hostile act against the People.
I can bear witness to this: Miami antique and secondhand furniture dealers in the late '90s had huge piles of beautiful antiques they had purchased wholesale in cargo containers out of Argentina.
The middle class liquidated it all to stay alive.
I hope this country's citizens are smarter, tougher and willing to adhere to a higher morality than the international banking cartel--one that includes repudiating debts claimed by them, "odious" or not.
A U.S. that disconnects from the international systems that are treating it like a mafia-purchased restaurant being used in a bust-out bankruptcy scheme can once again lead the world.
What a load of BS. 'The privatisation resulted in huge yield for no risk for the investers'
state propaganda. There was a huge risk and it has materialized. Privitasation is just selling it to voluntary investors, letting them patch it up and then nationalise it in order to sell it again later.
Gvt is those with a monopoly on initiation of force and theft, always and everywhere.
It will be a little different here. We won't be banging on pots but we will be banging and we won't be asking for the scumbags to leave.
And for you sheeple out there that still think, some how, that the police are your friend, go back and watch again.
hujel