For anyone who is wondering why the third world is erupting in protest and violence, watch the documentary Life and Debt.
Educate yourself in what you don’t know and see for yourself the effects of globalization.
The country of Jamaica’s long-term indebtedness to the IMF has contributed to the erosion of local agriculture and industry and the things we hear in the documentary from the farmers and factory workers, whose livelihoods have been undermined, is shocking to say the least.
The contract that the IMF imposed upon Jamaica is a chilling reminder of the level of greed and crookery in which our world systems and leaders thrive upon. For example, we see how to get a $50,000,000 loan, Jamaica had to agree to relinquish the right to control their imports in any way. So with imports coming in, there is no market for products from local farmers. American powdered milk is an example, subsidized at 137%, it undercuts fresh milk produced in Jamaica (even though powdered milk is more expensive to produce), and has destroyed the local dairy industry.
The restrictions on local subsidies and imports are so many in fact that it’s been quite the rape on the people and the land because the people in Jamaica, can’t even afford to eat locally-grown food because low-quality imports are so much cheaper to buy.
The cycle of debt within our current money system makes it increasingly difficult for any small island nation to achieve economic sovereignty, or even food sovereignty, all the while making it easier and cheaper for foreigners to enjoy the country and benefit from its resources. The truth is – we are all responsible for crimes such as this to continue in and as our current money system, and if we don’t understand how, then it’s time we sit down and educate ourselves to understand how, so we can stop it.
We’re going to have to dismantle the things that we’ve always thought as socially important and begin to understand how control continues through the mechanism of debt and begin to redesign a system that does not tolerate abuse to any living being.
I support the solution of a One Man One Vote Equal Money System – which will peacefully bring an end to the policies of the International Monetary Fund, the World Bank, our current Monetary System and other aid organizations – all of which are nothing more than cleverly disguised plans to benefit the rich in order to maintain control and power through money where profit over life and privatization depend upon the poor to even exist.
I encourage everyone to watch and share this film as it is beautiful on so many levels simply because it allows life to be seen as it really is, as opposed to what we want to believe life is.
The following is the transcription from part of the documentary. An interview with, Michael Manley, Prime Minister of Jamaica (1972–1980, 1989–1992)
“To understand the International Monetary Fund it is best to go back to history. We come to 1944, the war is coming near to an end. The allies were determined not to have the war finish and end up in the mess of the 1930’s. The key institution setup was the IMF (International Monetary Fund), and the purpose of the fund was to have a bank they could turn to for short term borrowing to serve the short term trading interests of the winners of the war. At the same time they set up the world bank to provide capital for the rebuilding of Europe. You have to remember what we now know as the third world didn’t exist. There were a few major powers each of which had a large empire. We had no voice, we had no presense, you were just part of somebody else’s power structure. You ask who’s interest, ask the question, ‘who set it up’.
Countries like Jamaica found that when they became free, they soon were in every kind of financial problem because they didn’t have the economic strength to, shall we say, make it on their own. They needed time to build economies that could then make it in the world. When you see what all the food from abroad costs, you realize that the food production to feed ourselves in Jamaica, is not only a matter of opportunity for you, is a matter of survival for the nation.
Comes 1973, there is a world convulsion caused by the oil price increases. All of a sudden we are having to find sums of money we never dreamed of before just to make ends meet. Now, what can you do. First of all you go to the private banking system and you say, well can I get a private banking loan because I’m strapped for cash, I need some support and I’m having trouble paying my overseas bills. Bare in mind, this is a country literally beginning to unravel, because it cannot finance what it needs. Because you can’t have no penicillin in the hospital, you can’t have no wheat to make bread.
What you really need is to set down with them (the IMF) and say look can I work out a five year program. And in the meantime I’m strapped for some cash so can you help me up front get out of the cash bind and then put it in the context of a long term development plan. And they say No. Long term development is your problem. We are here only to see who do you owe the money to, why you are in a bind and we lend you some money in a very short time frame at full interest rate to get you out of the bind. And they then impose upon you tremendous restrictions in what you can spend. And you say to them, but if I do it that way, when I finish repaying you, I’m going to be in the bind all over because this can’t solve my problem. They say, not our problem.” – Michael Manley, Prime Minister of Jamaica (1972–1980, 1989–1992)