Surviving Capitalism (Not) : The vultures that want to bring Argentina to its knees

We’ve lived so long under the spell of hierarchy—from god-kings to feudal lords to party bosses—that only recently have we awakened to see not only that “regular” citizens have the capacity for self-governance, but that without their engagement our huge global crises cannot be addressed. The changes needed for human society simply to survive, let alone thrive, are so profound that the only way we will move toward them is if we ourselves, regular citizens, feel meaningful ownership of solutions through direct engagement. Our problems are too big, interrelated, and pervasive to yield to directives from on high.
—Frances Moore Lappé, excerpt from Time for Progressives to Grow Up

Tuesday, April 17, 2012

The vultures that want to bring Argentina to its knees

Click here to access article by Stéphanie Jacquemont from the Committee for the Abolition of Third World Debt.

Argentina has recently been assaulted on several fronts. These attacks are related to the 2001 suspension of payment on its external debt and to cases brought against the country before the ICSID (International Centre for the Settlement of Investment Disputes), the controversial World Bank arbitration tribunal.

One should have some background on sovereign debts and enforcement of repayment by international bodies to fully understand this article. I recommend reading Confessions of an Economic Hit Man by John Perkins, The Blood Bankers by James Henry, and Super Imperialism: the Economic Strategy of American Empire by Michael Hudson.