For Argentineans who watched Greece’s humiliating fall from fiscal grace, there will be a distinct feeling of déjà-vu. Are they waiting for economic collapse in Biden’s America and the European Union? They will cast their minds back to December 2001 when Argentina; theoretically one of the world’s most promising economies, suffered a similar financial collapse. As the Argentine economy crumpled and with it the realisation that life’s basic necessities were no longer within reach there was violence, rioting on the streets and severe social dysfunction. President Ferdinand de la Rúa’s government was forced to resign.

It was the least it could do for bankers’ man, Domingo Cavallo, Argentine’s Minister for Economics, had attempted to impose austerity measures that in effect reduced Argentineans to impoverished slaves. The country’s debts had been called in. Debts accumulated by incompetent and corrupt parliamentarians hooked up to the Wall Street banking cartels. Thanks to them Argentina’s economy had been run on a credit card with ruinously high interest rates that were unmanageable. Politicians tend not to be good economists.

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Five Presidents in One Week: As queues formed at banks and shop shelves were stripped bare, rioters filled the streets and the notorious state police and quasi-military forces were let off the leash. During five grim days, the country exchanged no less than five presidents. Following a predictable pattern, the International Monitory Fund (IMF), the global bankers’ cartel, demanded their pound of flesh in return for bailing Argentina out – at terms set by the banking houses. The country was being repossessed by the banks; from there on the politicians, regardless of which party they represented, would be the IMF’s managers.  

As always, the ordinary people would be doing the paying. Taxes would be raised, there would be less public spending; and social support systems would be much reduced. The ‘balancing of the budgets’ led immediately to a 40 per cent fall in Argentina’s Gross Domestic Product (GDP).

Argentina is a country so rich in natural resources it is the envy of the world. It has land and natural resources as a surplus; cheap for exploitation. Under different circumstances, such as that of the U.S. during the 19^th Century, its promise should have been luring immigrants and investors. The 2001 crisis, sparked by the rapaciousness of the globalist banks, led to half of Argentina’s population falling below the poverty line: Few were to recover their middle-class or even working-class status.

Privately run banks were given the legal right by politicians to retain the savings of their customers. Without as much as a by your leave, U.S. dollar deposits were changed into Pesos at rates dictated by the banks. The dollar was effectively devalued from 300 per cent from one peso to the U.S. dollar to four pesos to the U.S. dollar in a matter of weeks.

Living Beyond One’s Interest Payments: Interestingly but predictably not a single Argentina bank collapsed: For the banks it was business as usual. Conversely, the people found themselves out of business as industries and services, painstakingly built up over decades, were closed and shuttered. Towns became ghost towns and previously prosperous Argentineans were reduced to self-supporting family and community groups; bartering flavoured each day’s meal.

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Twenty-five years of inept and corrupt government, regimes largely financed by the banks had created a Sovereign Debt so great that despite the country’s enormous resources it was unable to meet its obligations. Though on a smaller scale, many ordinary people can identify with Argentina’s agonies. They too have got into debt and then borrowed in a futile attempt to extricate themselves; netted like fish. The banks are masters at handing shovels to people who find themselves in holes.

The avarice of the banks was such that the New York Times impudently suggested that the Patagonian region of Argentina, which accounts for 35 per cent of its enormous natural resources, should ‘secede (be owned by the banks) as a way of meeting its debts.’ The same impertinent demand was made of Greece that it should sell some of its islands to help meet its debts. Colonisation once depended on military conquest and a soldier on every corner. It now requires debt conquest and a bank on every corner. The result is the same. The country’s wealth is vacuumed out, assisted by a national slave force; the politicians have merely become the banks’ managers.

Coming to a Nation near you: When Argentina’s fall from grace occurred in 2001 / 2002 there was smugness in the north and Western hemisphere. That smugness is now evaporating as the same thing is happening in the U.S. and Europe. Whilst the taxpayer ‘bails out’ the banks (where did the money go?) the hardworking taxpayer loses his house, his job, and his pension.

When the penny drops, again into the banker’s grasp, distressed people take to the streets to vent their anger and frustration. When they do so, their own kind in their country’s police forces is sent out to quell them. Bloodshed, distress and death will be the inevitable outcome. Far from the teargas and the batons will be the money manipulators.

“So, you see, my dear Coningsby; the world is governed by very different personages from what is imagined by those who are not behind the scenes.” These prophetic words were uttered to Coningsby by Sidonia, revealed as Lionel Rothschild of the banking dynasty in Benjamin Disraeli’s book Coningsby.

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