Last night I went to watch the brilliant documentary “Lets make money” – an eye-opening well reasearched film by Austrian Director Erwin Wagenhofer. After his earlier mind-blowing documentary “We feed the world” where he traces the origin of food we eat (Every day in Vienna the amount of unsold bread sent back to be disposed of is enough to supply Austria’s second-largest city, Graz. Around 350,000 hectares of agricultural land, above all in Latin America, are dedicated to the cultivation of soybeans to feed Austria’s livestock while one quarter of the local population starves), Erwin Wagenhofer explores another sensible and very timely topic – the background/and backyards of neo-liberalism: what banks actually do with our capital.
Wagenhofer follows the tracks of money through the worldwide finance system. For example in the Costa del Sol region of Spain. Even though 3 millions (!) homes are standing empty, the building frenzy is still going strong after 18 years, spurred by the belief that real estate is a lucrative investment. Blown by the investment drive, there are over 800 golf-places along the beautiful Spanish coast in Andalusien which are not being used but being watered and require water sufficient for 16. Mio. people.
There are no expert comments in this documentary – Wagenhofer makes the “player” speak for themselves.
Here is the trailer with short interviews in German, English, Spanish and French, with German subtitles.
One of the investors, specialist for Emergin Markets points out that “you have to buy when there is blood on the streets” – he knows where and how to invest the funds, also our rent funds.
Another interesting figure is John Perkins, an American Economy Professor, World Bank specialist who calls himself “Economic Hit Man”, he explains in a clear and understandable way the American foreign policy from the different (insider) perspective. Perkins wrote a book on the topic, here is the review: In his Confessions of an Economic Hit Man Perkins writes that his economic projections cooked the books Enron-style to convince foreign governments to accept billions of dollars of loans from the World Bank and other institutions to build dams, airports, electric grids, and other infrastructure he knew they couldn’t afford. The loans were given on condition that construction and engineering contracts went to U.S. companies. Often, the money would simply be transferred from one bank account in Washington, D.C., to another one in New York or San Francisco. The deals were smoothed over with bribes for foreign officials, but it was the taxpayers in the foreign countries who had to pay back the loans. When their governments couldn’t do so, as was often the case, the U.S. or its henchmen at the World Bank or International Monetary Fund would step in and essentially place the country in trusteeship, dictating everything from its spending budget to security agreements and even its United Nations votes. It was, Perkins writes, a clever way for the U.S. to expand its “empire” at the expense of Third World citizens.
The film “Let’s Make Money” delivers shocking facts on the “tax paradises” with their over 11,5 Trillion dollar tax-avoided money, as well as on the investors work in India and cotton-production in Africa. And much more…
I don´t know is the film will go around the world and will be translated into English, but if you will get a chance -please watch it!