Posted on 04/09/2009 11:57:24 AM PDT by Globalist Goon
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%.
From a socialist perspective and blaming it on the banks. If they ever get a government that even has the slightest inkling of a free market they might recover, but it is Argentina, so one shouldn’t hold one’s breath.
We’ve seen it over and over.
Large central banks are given the power to create money.
They then loan it - tons of it, if not more - till some poor sucker country or company is up to his eyebrows in debt.
Think about it. What would you be able to do if you could create money, then loan it at will to whoever you want, at whatever terms you desire?
You could bankrupt the world. But you don’t want the world bankrupted. Just permanently enslaved. So far in debt they could never pay it off.
bfl
The first part is great but this is going to take some time to get through.
One note: Fernando de la Rúa was a member of UCR, the Argentine social democrat party, essentially he was Argentina’s Obama.
Oh yea, one more thing. If you must attack an armored car, don’t use a skate board. It’s kinda futile.
Sounds to me like the situation the U.S. is in right now. Presses running overtime, and money not worth a thing.
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