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

Sunday, August 9, 2015

Who Gets the Money? The Secret Bank Bailout

I credit "Don Quijones" of Raging Bull-Shit for this post and the German company, wocomoDOCS for producing this video. I haven't had time to listen to all of it, but I think that the film-makers have made a diligent and honest attempt to uncover the mysteries behind the bailouts of banks and the resulting severe austerity policies imposed by ruling class financial institutions. In the video the investigator makes a determined effort to find out who the real creditors are--something that is always hidden from the public. I also like the introduction of the video from Raging Bull-Shit which is reproduced below.
Where has all the money gone? That is the question that desperately needs asking (and answering) now that the European Union has morphed into one humongous orgy of national bailouts.

In his 2013 documentary “The Secret Bank Bailout,” German investigative journalist Harald Schumann documents how the peoples of Ireland, Cyprus and Spain were not bailed out. The biggest recipients of the Irish bailout that saved Anglo-Irish Bank were British, French and German banks, including Union Investment Privatfonds, Rothschild et Compagnie Gestion, and Deutsche Bank.

German and French banks accounted for 50 out of the 80 bondholders. Without the clandestine bailouts these banks received, they would have almost certainly gone under.
I think that these problems are basically caused by the dense concentration of power by capitalists over our societies through the private ownership of key sectors of the economy. They control money issuance, they control what money gets spent on, they control large segments of the economy, they control governments, and they control every important institution of society including media, education, and entertainment. 

I also recommend from the same filmmakers a more recent video entitled "The Trail of the Troika (HD 720p) | A must-see to understand the situation in Greece" that can be accessed here