What is odious debt? Do citizens deserve the austerity measures imposed on them by their governments? How much influence can international money lenders actually have on the national policy of independent states? "Debtocracy" may not give us all the answers, but it does provide us with a pretty good look at the realites of global debt, the what's, the why's, the how's and even some where'd it all come from's.
Using the current (2011) financial problems of Greece as a starting point, the film explains in clear and simple language, some of the most enigmatic relationships between international banking practices, and national sovereignty. It then moves on to explore how other states around the world have dealt with similar problems. For instance in the wake of Argentina's 2001 economic crisis, the "fabricas recuperadas" (recovered factories) movement took over abandoned manufacturing resources in a bid to get their money's worth out of the international companies who had abandoned as IMF corporate welfare ran dry. And Equador in 2006 where, sick of the usual patsy politicians, citizens voted in home grown Rafael Correa, who promptly kicked out the world bankers, set up an independent state audit, then declared "Debt? What debt?".
For anyone desiring a better education in the politics of world economy, beyond watching G20 protesters being beaten and shot at by black clad security forces, "Debtocracy" offers an enticing overview of exactly how money flows between global interests, high above the heads of the citizens who most often end up having to pay it back.
added by: bill