Argentina's economic collapse (Memoria del Saqueo)
CATEGORIES OF THIS FILM
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.
The dollar was on par with the Argentine Peso. It was the Argentine equivalent of the roaring twenties...then chaos broke out as overnight the money left the country and the banks took the peoples money. The streets exploded and the government went through a succession of presidents in a few days. The film amazed me by just how easy it is for a country to go down the tubes by letting politicians worry about their interests more than those of the people.