Argentina's Economic Collapse

Argentina's Economic CollapseAfter many years of apathy in the country, the insurrection exploded. The spontaneous revolt of faceless people meant saucepans were being banged in every neighborhood, all the way to the city's vital centers.

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.

Watch the full documentary now

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Ratings: 8.46/10 from 28 users.
  • daniel

    im from argentina, this is a great&sad real sroty of our land, but its not completed! the movie is not 100% available!

  • Molly

    The movie stops abruptly...where's the rest Vlatko? Please add the rest; it stops at the most interesting part.

  • romania

    jesus christ....

  • Reggie

    I always thought this was only done to 3rd world countries. Or specifically I only ever heard of "white" countries doing this to "nonwhite" countries. My only conclusion is Spain's looming eminence to world power via cultural links to it's former colonies. A cartel of Europe's strongest countries smothering a one-time contender. Spearheaded by the reigning world power Estados Unidos.

  • brad reynolds

    Well escape goat I just have to agree. That dirty bastard really pulled a fast one because he probably saw the books.

  • http://www.piantado.com.ar Leoagn

    For the ones that whants to see the entire film , the original its called "Memorias del saqueo" and it was made for Fernando Pino Solanas.

    Please excuse mi bad english...

    La pelicula de la cual fue tomada la hora es Memorias del Saqueo, del actual diputado Pino Solanas. Si la buscan seguramente la encontraran...

  • http://www.piantado.com.ar Leoagn

    I meant "by Pino Ssolanas", sorry again...

  • Herding Lemmings

    Thanks Leoagn your english is fine. Perfectly understandable

  • ralphlo

    they rise up..

  • Tina

    I visited Argentina after the crisis and I still liked it. If it wasn't for the bank incident it really is the perfect place to live. A little farm and house and I would grow my own food.

  • eagle_11

    Tina I guess you are from Argentina.

  • http://twitter.com/panthera_f panthera f

    Big bankers and greed.

  • Joao_Silvestre

    I really would like to see the whole documentary. Anyway this is an example of what is going to happen in Europe, I feel sory for the argentinian but at the same time glad for this atrocity has happened, that way, people from countries like Greece, Ireland, Portugal (where I'm from) and so on, be aware of what is unfoldind before their eyes and perversely disguised by politicians and media. There must be a global insurrection! This nightmare must be stopped! The people must unite against the elitist tyranny who wants to easily take possession of what was earned for so much effort and sacrifice by the people!

  • FionnMcCumhaill

    Wow, like Joao below said so many parallels between what happened in Argentina and is now happening in Europe - (Ireland - where I am from).
    We are embarking on a mass sale of state assets at the behest of the IMF and the ECB at the moment. Our dim-witted (or else totally corrupt leads Cowen and Lenihan) nationalised billions of private debt and we just sit by and get a pat on the head every 3 months from the EU and IMF telling us "good boys keep up the austerity measures" while those who created the debt waltz away with their nests well feathered.
    Anyway its scary to see where we are headed.
    Rumours abound there are runs on French and Italian banks the last few days and Soc Gen (bastion of French finance) banned short selling today.
    This thing still has legs............
    Ps Backpacked Argentina a few years ago for 4 months loved every second of it!
    In the words or Che "Hasta la victoria siempre"!!

  • http://profile.yahoo.com/XZWCLSOIIWSALLBSEL6W2SGZH4 perplexed

    no matter where in the world you go, whatever the continent the place, the poor always suffer at the hands of the rich. religion, politics, class, always makes people fight against each other and the ones who really benefit are-" only the super rich".......when will this ever stop, i wonder?

  • http://profile.yahoo.com/XZWCLSOIIWSALLBSEL6W2SGZH4 perplexed

    one by one everything is falling apart.....korea, thailand, indonesia, argentina, haiti, greece......why do we humans never learn? the IMF, and the super super rich, just keep abusing and raping the poor in all parts of world, and the system itself instead of protecting the people has been the root of all problems.....Democracy has failed, its a sham....again and again politicians and their rich bankers and masters have pillaged and plundered people all over the world. from South America to Africa, from Asia to Europe, America in "TODO MUNDIAL"....... i am ashamed and i hate to say this but i have given up all hope, i have no more faith and belief in anything positive.....i have lost all hopes and have given up on humans as a species... all the beautiful gifts of nature that we have as humans, we have wasted it and squandered it......poverty, sickness, disease, hunger, wars, corruption....
    i wish a big comet comes and strikes earth soon so as to end "all our" misery rather than prolong it, and just wait for more "false promises" by politicians...and greedy, soul-less, twisted super rich people....who cannot be called humans because they no longer have any "HUMANITY" left in them..

  • kompikos

    @perplexed:
    I, on the other hand, am optimistic. And I actually live in Greece. Maybe it's the climate ? don't know but maybe, on the other hand, it's the fact that I actually believe in democracy, in the power and will of people to change their destiny. I grew up like this, I live in a country that has been failing and re-branding itself for millennia, over and over again and this strength always came from the Greek people and their deep belief in freedom and democracy. It's not by chance that democracy was born in Greece. It works and it has safe-valves when it fails. And it has preserved the existence of Greece and it's people for 2500 years to date, even under foreign occupation (Romans, Turks, Nazi Germans), under authoritarian ragimes (one monarchy, one dictatorship, one military junta) and under 6 wars, 2 civil wars included, since 1824.

    This is why I am optimistic and this is what makes me believe in people and the power of people. This crisis is a cupcake for Greece compared to what this country has been through. And guess what? We always get back to stability through reform of our democratic institutions. Not with bailouts, not with foreign "aid". A truly working democracy is not a democracy that does not fail ever, it's a democracy that whenever it fails, it come back stronger.

  • kompikos

    I'm posting this because I read and have heard over the past two years many associations being done between Argentina and Greece.

    Greece is very deferent from Argentina. It has a completely deferent corruption problem that led the country into debt. Greece was led into debt by a democracy that became so lax, it allowed many public sector workers to manipulate governments towards their specific union interests in expense of other population groups and the country itself. Governments over-facilitating the people in exchange for votes and voters using the "this is a democracy" card in exchange for disobeying the law and getting away with it.

    Argentina run into debt because of non-democratic governments acting in authoritarian ways completely disregarding the people's will and the country's interests in order to facilitate themselves and calling the whole system a democracy.

    Both are dysfunctional democracies, however in the exact opposite ways. And the historical, political, social, administrative and economical fabrics of these two countries are completely deferent. Argentina with a "soviet model" economy was overrun by corrupt capitalism that indebted the country even more (1991). Greece with a "capitalist model" economy was overrun by corrupt socialism that indebted the country to begin with (1981). And finally, when the IMF came in both countries, all hell broke loose.

    The main deference between Greece and Argentina is the fact that Greece is a small, with limited resources country that has a population of which 80% belongs to the "western" middle class (daily salary >50$ per day). Argentina is a big, resourceful country with a population of which 65% belongs to the "western" poor class (daily salary <15$ per day). This is an oxymoron that also plays a huge role in this whole "debt" discussion. And explains why particularly the Greeks where able to manage and adjust more "easily" and live with an economic crisis. In Argentina things became much more violent and the response from the authorities was also intensely violent.

    To sum up, Greece and Argentina are the exact opposite sides of the moon and still ended up being overridden by debt. The US is a dysfunctional democracy for years but in a completely deferent way than these other two countries and heads down the same path already. Italy. Spain. Portugal. Ireland. Even the UK and France. Food for thought. Who the hell is to blame...? Not the average citizens who follow on the path of their country's system because they live in it and have to follow this path. No way.

  • http://www.facebook.com/blankitty.blankblank Blankitty Blank Blank

    Agreed, this is a whole lot what's happening in your country, Portugal, the commenter belows' country, Ireland, and all of Europe. To see good examples of how this plays out in societies you can look at every indebted 3rd world country.

    The only place this film was inaccurate was when a man said 'they did to Argentina what they couldn't get away with doing in their own countries' - it only took them 50-75 more years to do it to their own nations. Now the whole world is in debt to the banks, especially since we all nationalized their losses.

    None of us need to be. Sovereign nations to have the power to create their own monies, or monies backed and exchangeable for locally abundant resources - the world doesn't need to have an economic system where governments have to borrow from predatory financial elites to secure funding. We could have political systems where populations truly gt a say in how the nation is ran, say through allowing populations to petition for binding national referendums, through transparent government that invites widespread participation, or at least by ensuring candidates aren't funded by multinationals. But until people around the world succeed in demanding otherwise what happened in Argentina is a familiar story that will continue.

  • Weyman Bussey

    Argentina is just another victim of the oligarchs experiments on sucking the blood from a civilization/nation. Mexico in the 80's, the peso went from 22 to 3000 in 5 years, Jamaica, Nicaragua, Guatemala, Panama, Chile, Peru, these all come to mind as victims of the International Banking Cartel, (the Globalists) during my productive lifetime.
    The megalomaniatic cleptocrat's have zero empathy for humanity. I am sorry I didn't get to see the documentary here, it doesn't work as of now, at 5 PM EST, 3/11/2013, but I watched it several times a few years ago and feel compelled to make a statement.
    We need to go back to individual countries based on our original cultures and stop absolutely this idiotic control over humanity. These people are so sick, it makes me sick, and I know because I have been screwed over by them personally! I am not one of the "good Ole Boys".