Who's Saving Whom?
A film from below by Leslie Franke and Herdolor Lorenz, 2020, 78 minutes
The whole world is talking about the Coviod 19 crisis. But Covid 19 is just the accelerater The global economic crisis had already begun in December 2018, when financial derivatives destroyed assets to the tune of five trillion dollars - that's 12 years of German federal budget spending! Industrial production immediately slipped into the red. Satyajit Das, financial expert and protagonist of the film "Who's saving Whom?": "In view of the speculative real estate prices, the banking system and the mountains of debt, Covid 19 is just a pinprick that pricks the bubble.
Had it not been for Covid 19, something else would have brought the crisis to a boil. The debt, already dangerous in 2007, has continued to rise. And in the current crisis it will break all records. The banks in the USA have complete freedom again. The European banks are suffering from huge portfolios of southern European government bonds. In the new euro crisis, Italy will wobble, but then the banks will also wobble. In addition, an intransparent and unregulated shadow banking system (hedge funds like Blackrock) have grown more powerful than the entire banking sector. And the real estate market is also a bubble worldwide, just as in 2007 in the USA - more than 100 million newly built flats stand empty.
Everywhere you look, bubbles are waiting to burst. Little by little, companies, banks and, after them, public bodies overburdened with rescue packages will declare bankruptcy. So the crisis will most likely spread enormously: Possibly first as a new financial crisis, then perhaps as a real estate crisis or even before that a new euro crisis - all more unpredictable and bigger because, unlike the last crisis, China no longer acts as a crisis mitigator.
We know from the last crisis that crises always threaten the income, labour rights and personal security of wage earners and our democracy. With the financial crisis, working on call, as a freelancer and in the gig economy without any social security became part of everyday life. We took a closer look at this in the film "Der marktgerechte Mensch" (The Market-oriented Man) and now affects 40% of all employees in the " industrialised" states of the West. They are also the ones who in this crisis do not receive short-time work benefits and still have to pay the rent. Karstadt-Kaufhof is closing half of its stores. And that is certainly only the beginning. Satyajit Das: "We have learned nothing from the 2008 financial crisis. The current economic crisis has only one parallel, the Great Depression of the 1930s."
Let us - the 99.9% - avoid having to pay again for the crisis of the 0.1% rich and powerful! The film "Who's Saving Whom? shows vividly how this happened in the last crisis. Those who do not understand their history run the risk of repeating it more tragically. Therefore, now the current version of the film "Who's Saving Whom - Reloaded". Be prepared! Help to ensure that "who's saving whom? Reloaded" can warn of new rescue policy despite pandemic!
Learn from the last crisis. "Who's Saving Whom - Reloaded" will help you.
With every donation you are a sponsor of the film. From 20 € onwards you will receive a DVD copy or HD-Mov file with the license for non-commercial screening from "Gemeingeingut in BürgerInnenhand
- From 35€ owards you will receive the DVD copy or HD-Mov file "Who's saving Whom - Reloaded" and the film "Marketable people" with two licenses each for non-commercial screenings
Payments please to the account: Recipient: Whos-saving-whom - Reloaded, GLS Bank, IBAN: DE49430609672020346200, BIC: GENODEM1GLS or also via PayPal