Part 3: Why Are We All in Debt?
Is boom and bust inevitable? Why does the value of money keep on falling? Why are we all in debt? Do we really have to live like this?
We're a group of researchers who believe in the age-old prohibition of usury. In the Autumn of 2005, we produced a short documentary explaining that a banking crisis was waiting to happen. But the economy was roaring and the word "crisis" wasn't on anyone's lips. Economists asked us "Why are you talking about bank runs? These things don't happen anymore". Some politicians were more confident still. "This government has put an end to boom and bust" one of them told us.
Then we had a bank run and the economy collapsed. Suddenly, the TV channels were full of documentaries on the banking system. Trouble is, their documentaries had orthodox bankers doing most of the talking. We thought to ourselves "Weren't these the guys who caused the problem? And now they're telling us how to put things right?".
So here's our side of the story. And may the truth win, for everyone's sake.
Written and presented by Tarek El Diwany. With Peter Challen and Ahmad Thomson. Produced by Fig Tree Film. Camera by Barry Jacklin and Abu Bakr Patterson. Sound by Ann Bradnam. Editing by Ahmed Khelloufi. Design by Spark Associates. Colour DVD. Running time 26 minutes.
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Source: Why Are We All in Debt?
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