War by Other Means (1992)
War By Other Means is a 1992 documentary film by John Pilger and David Munro. In this film, Jon Pilger sheds light on a form of warfare that doesn’t involve guns or tanks, but rather monetary policies wielded by global banking institutions. It’s a war fought through loans provided by the International Monetary Fund (IMF) and the World Bank, and its impact on the citizens of poorer countries is catastrophic.
Imagine a battle where the weapons are not bullets, but interest rates. The documentary takes us into the lives of people in developing nations who bear the brunt of this financial warfare. Let’s delve into what this means:
- Debt as a Weapon:
- Pilger argues that the debt system operates like a colonial war. Instead of viceroys and occupying armies, sophisticated financial mechanisms control people and their resources. Debt becomes the principal weapon.
- The roots of this system trace back to Bretton Woods in 1944, where the IMF and World Bank were established. These institutions were meant to foster development, but their impact has been far from positive.
- The Philippines: A Stark Example:
- The documentary focuses on the Philippines, where 44% of the national budget goes toward paying foreign debt interest. Poverty is rampant, and people scavenge through garbage heaps on “Smokey Mountain” to survive.
- Debt is a contemporary form of slavery. Structural Adjustment Plans ensure that debt repayment takes precedence over everything else, regardless of environmental or humanitarian concerns.
- Little Change Over Time:
- Despite optimistic statements from World Bank representatives, little has improved. The Philippine economy still revolves around servicing debt.
- The country, once boasting a strong economy, now grapples with poverty. Gross external debt has risen, and millions live on less than $2 a day.
- A Call for Debt Cancellation:
- Pilger passionately advocates for debt cancellation. He proposes abolishing the IMF and World Bank, replacing them with a development agency aligned with the national interests of affected countries.
In this financial battlefield, the casualties are not counted in lives lost, but in futures stifled. The war by other means perpetuates a perilous cycle, leaving nations struggling to break free from the chains of debt. It’s a stark reminder that sometimes the most powerful weapons are wielded not on battlefields, but in boardrooms and financial institutions.
