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In this video with subtitles in 4 languages (FR, NL, EN, ES), ZIN TV, Entraide et Fraternité and the CADTM offer you their explanation of the “debt system” in the form of a tutorial cynically addressed to capital holders who benefit from this wealth grabbing mechanism.
This short film illustrates how the repayment of public debt allows the Northern countries and private banks to perpetuate the colonial dynamic of plundering the resources of the South with the support of the International Monetary Fund (IMF) and the World Bank.
These debts were illegally transferred to the Southern countries by the colonising powers or were subsequently contracted by the dictatorial governments of these countries in order to consolidate their personal interests in defiance of those of the local populations. To ensure repayment of these debts, the countries of the South are forced to sell their resources (at the expense of food sovereignty, social rights and the environment) by orienting their economies towards exports and applying free trade. The IMF ensures that this mechanism is maintained through its “structural adjustment plans” which lock these countries into a downward spiral of debt and austerity. In the end, it is the rich countries and the financial markets that benefit both from the interest on the debt repaid by the South and from the exported resources that feed their industries at low cost.
Since the financial crisis of 2008, the populations of the Northern countries, especially in Europe, have also suffered the destruction of social rights and public services under the pretext of repaying public debts in order to satisfy the appetite of the private markets.
It is time to destroy this infernal machine and bring down domination through debt. Throughout history, many governments, under pressure from the people, have refused to pay. To do so, they have been able to rely on international law and citizen audits of the debt. At a time when a new global debt crisis is looming, the people must take up this issue and question the payment of public debt.
[LET’S GET INFORMED, LET’S MOBILISE, AND LET’S JOIN THE INTERNATIONAL MOVEMENT FOR THE CANCELLATION OF ILLEGITIMATE DEBTS!]
[PLEASE SIGN THE PETITION ON : https://www.annulerladette.be/]
| FOR FURTHER INFORMATION Videos: The Greek debt, a European tragedy (also in English) À qui profite la dette ? (In French) L’histoire de la dette en RDC (in French) Articles: On debt in general: Debt Against the People: an ABC On debt and the Covid19 pandemic: Call (...) for the cancellation of debts and dropping of the “free trade” agreements On citizen debt audits: Citizen debt audits: how and why? On colonial debt and migrations: Debt: an infernal device at the heart of the feminization of migration On debt and patriarchy: An eco-feminist reading of debt to think differently about auditing On ecological debt: The ecological debt at the heart of climate issues On banks socialization: How to Socialize the Banking Sector |
SYSTÅM DËBT - How to become a wealthy creditor
A VIDEO DIRECTED BY ZINTV
WRITTEN AND ANIMATED BY :
Pinpin
Thomas Michel
Gilles Grégoire
Renaud Vivien
VOICE OVER :
Noémie Maton
SOUND EDITING :
Nicolas Menoux
ACCESSORIES:
Corentin, Nico, Thomas, Sarah, J-F Roversi, Mathieu & Audrey
ENDING MUSIC :
Eva LG & GiGr – Biche Bloc © L’Aubaine Records, 2019
COMMUNICATION AND DIFFUSION :
Anne-Sophie Guillaume
Beatriz Ortiz Martínez
Chloé Martens
TRANSLATION :
Beatriz Ortiz Martínez
Katelijne Suetens
Mélissa Baleka Da Silva
PROOFREADING AND SUPPORT :
Anaïs Carton
Brigitte Ponet
Eva Betavatzi
Laurenne Makubikua
Rémi Vilain
Romain Posocco
Soléanne Despretz-henrion
And members of ZinTV, E&F and CADTM
A ZINTV, ENTRAIDE & FRATERNITÉ, CADTM PRODUCTION
LICENSE CC-BY-NC-SA 4.0
