The Phaserl


Argentina’s Financial Collapse – Past Is Prologue

from Zero Hedge:

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 a time of peace and in a democracy. Ever since independence, almost 200 years ago, Argentina‚Äôs foreign debt has been a source of impoverishment and corruption and the biggest scandals. This foreign debt always went hand in hand with big business, and with the complicity of nearly every government. The policy of indebtedness gave rise in Argentina to generations of technocrats and bureaucrats, who favored banks and international corporations over their own country. It didn’t end well then, and it won’t end well this time…

Read More @ Zero

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1 comment to Argentina’s Financial Collapse – Past Is Prologue

  • 8Ball

    The “plan” is as old as time itself. Get the King or the government to borrow and spend more money than they can ever hope to repay and then you (the lender) will own them. It is a simple plan, driven by greed but when spiced with money, sex, assassination, drugs, etc., there are still an abundance of fools who will fall prey to it… and sell out their countries for the pottage.

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