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Debtocracy?

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http://www.debtocracy.gr/

http://en.wikipedia.org/wiki/Debtocracy

Anyone seen it? (I'm looking for an English translation)

Any thoughts?

Just watched most of this. It's a very well made documentary. In a nutshell it gives the history of Greek national debt. It has clips of Greek politicians saying we all 'ate' (meaning took money that didn't belong to us) together as a country and also making statements (in English) to the rest of the world that Greeks are lazy.

It goes on to say the situation is diffcult in Greece for many people: insufficient access to food/shelter/healthcare and talk about how Argentia was screwed by the IMF when loans were transferred. It then gives examples throughout history when debt was cancelled, like in Iraq in 2002 when the US invaded and examples when countries refused to pay debts such as the Phillipines after Markos was deposed. There is then a long segment on Equacdor where a new leader brought in the auditors to analyse the national debt he inherited. He was unhappy about raising taxes and cutting services to pay interest repayments because a lot of the money had been spent on projects that laregly benefited Halli Burton and not the population. The result was that a lot of the debt was considered illegal (because it involved bribes etc) and he refused to pay and told the IMF to get stuffed. Parallels are then drawn with Greece, quoting the obvious Seimens scandal (when Seimens bribed politicians to buy loads of Seimens stuff at the expense of the public purse and the Goldman Sachs fiasco. Everyone knows that in Greece nearly all public projects involve a 10% bribe.

I didn't see the end but it actually made me think - Yes, this debt is illegal. Rich individuals and politicans have made mega bucks whilst most of the population have got f@ck all and now they have the nerve to make the ordinary people pay/have wage cuts/reduced public services and call the working public lazy!!

Unfortunately, I don't see any potential leader in Greece telling the EU and IMF to f@k off. 2 main parties who both toes the party line (like UK) and a few minor comedy parties. So it looks like Argentina style austerity. But documentaries like this show the Greek public are rapidly getting more informed.

There was also a docu on Greek national tv last night (NET) which went into the status of the National Bank of Greece - which turns out not to be part of the Greek state but privately owned!! It even showed paperwork that said the Greek government does not have the right to investigate the bank's activities. Is it just me or is life beginning to feel more and more like the Truman Show?

Edited by izzy

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most of the population have got f@ck all and now they have the nerve to make the ordinary people pay/have wage cuts/reduced public

Don't forget that being in debt is actually having less than f@ck all.

Edited by Reck B

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A lot of the docu is in English and French, so you will probably get the jist of it even if you don't speak Greek.

Thanks izzy I'll try it. A friend of my wife made her watch it. I think it was the first time she has really understood what is going on, what with being detached from it.Her friend is from a well known Greek family so pretty clued up.

She explained about the illegal debt side of things but I think that is wishful thinking.

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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