[Chile] Santiago: Claiming an explosive attack on BancoEstado de Las Condes

Being a slave means living a life based on the lives of others, attending to their needs, desires or whims, permanently delaying their own. A life that nobody desires or deserves. Many states have rejected slavery because it violates the most elementary principles of humanity, the right to live. However, although it is almost feudal to bring up the debate on slavery at this time, so far in the last quarter of a century, Capital has managed to give it a new twist with a skill that would be worthy of applause but out because its consequences are dire.

Modern slavery is exactly that, ignoring the fact that today it is protected under a “democratic” (and therefore “freely chosen”) regime, the new slavery consists in keeping us working for the benefit of a handful of families during the the time of greatest vitality we have, benefiting an elite that holds the pan with concepts such as bank loans and short, medium and long-term debts, making the illusion of a free life disappear almost as fast as the smile on the face of a hypocrite.

They have convinced us that to have a good life, a good pass, we have to break our back working for it. Billions of people have based their existence under this maxim, ending their days without pain or glory, being only one more figure in the calculators of the financiers. But since the vast majority does not even have enough for a decent life, that is to say, to have a roof over which to sleep, food, health, education and the well-being of their relatives, there is the fraud of immediacy and rapid consumption, with its respective interest rate.

Thus, banking offers a solution that rather than eradicating the problem at the root, it looks more like blackmail. So it is common to see couples or couples working a lifetime for the dream of their own home and to pay for the education of their children. That, without mentioning that to pay that debt (which often exceeds up to 2 or even 3 times the real value of the estate) workers are quoted throughout their working life in a pension system worthy of which, guess, the bank is a majority partner.

In Chile a little more than a decade ago, where the poorest (and majority) population was still reluctant to enter the financial market – surely in the popular unconscious there was still some reticence towards the neck and tie gentlemen [thieves par excellence ] -, the operation to reach that result had a stellar protagonist: BancoEstado, famous for its slogan “The Bank of all Chileans”.

And it was through this institution that the political and economic powers began to press for the workers of less resources to enter banking fraud (the propaganda for the Rut Account is illustrative), since being a large majority ( remember that Chile is at the forefront as one of the countries with greater inequality in the world), dividends would be large. That, not to mention that with broad layers of the population within the banking system, political power would have an effective weapon to manipulate workers, who in turn, would be moored by the blackmail of covering basic needs.

In this way, and charging interest rates much cheaper than the rest of the market, but not with lower profits, was how they tricked thousands of hopeful workers to reach a good future, not so much for them, but rather for their families.

Thus, the formula with the lowest interest rate, and the largest co-opted public, obtained important credits at the financial level. Thousands of people accessed consumer loans (to pay for basic needs), mortgage loans and commercial loans, where unfortunately, they end up paying a lot more of the real value of the acquired patrimony, be it a house, a car and / or a university degree, for state banking, it will always be a lucrative business.

In this sense, this economic policy ends up fulfilling two main functions: The first is that it dismantles any alternative solution to the system, therefore, revolutionary processes that alter the order of things are left out. A person who is not inserted into the economic system, but who can operate parallel to the capitalist system is potentially dangerous, especially in strictly political terms, since there is no sanction, people can freely choose which system they prefer to solve their problems . Therefore, in terms of keeping large sectors of the population subdued, it became imperative to convert the workers into banking clients.

If this were not the case, the capitalist system would evidently see a large part of its current mercantile flow diminished, since any sensible person would prefer not to pay interest or be punished monetarily to clean up basic needs. As the traitors of the Concertación knew this, they generated ad hoc public policies to continue punishing the marginalized (remember that the policies of social exclusion are implemented through the Shock Doctrine and the neoliberal system of the Chicago Boys) and, only in a start and in very specific cases, benefit the users of banking [1], which in any case will never mean a good business compared to the cost of attaching to these types of institutions.

The second function of this economic policy has to do with the dissuasive effect that is generated. A person marginalized from the national economic system remains vulnerable and fully exposed before being able to cover his basic needs moderately, serving as an example for social punishment. Thus, under the fear of ending marginalized, the workers accept blackmail for their own good and that of their families.

In this way, the bourgeoisie and the supranational Capital have managed to subdue gigantic layers of the population to compulsory labour, where the dividends of this labour always end up in the same arks: those of an exclusive elite of super rich.

The BancoEstado is a key element so that what has been described above has materialized.

However, to make all that money reach the hands of a handful of tycoons there are still steps in the operation. Let’s see:

BancoEstado was founded under the dictatorship of Carlos Ibáñez del Campo for a distant year 1953, and is the regulatory body of the Treasury. It is worth mentioning that this is the institution where the money of “all Chileans” comes from, which is collected through the surplus value generated by businesses articulated with large layers of indebted workers in different types of loans. Money that lies to administer the public policies of the governments “democratically” chosen (although we can not ignore that in Dictatorship the same happened).

In this way, through this lair of thieves, for example, various organizations are financed, be it institutions such as Carabineros, Gendarmería, PDI, Prosecutors, Armed Forces, Courts of Justice, etc .; foundations such as Security or Citizen Peace; companies that bid with the State or are contracted by entities regulated by it; natural persons such as Deputies, Senators, Ministers, Councillors, President, etc .; hospitals, schools, universities, prisons, municipalities, and activities that have their origin in public policies receive their income from this institution (such as bank forgiveness, salvage to companies that go bankrupt, subsidies of all kinds, among others).

In this way, every time we hear about, for example, DL 701, which delivers a “seed capital” to monstrous companies such as the CMPC (of the Matte Group), Madeco (Luksic Group) or Celco (Angelini), for encourage the monoculture of pine and eucalyptus in La Araucanía, because the national and lumber industry is encouraged (and generates labour sources), in reality what is happening is that the BancoEstado is giving them the surplus value of the interest rates charged to thousands of workers in their respective credits (consumer, mortgage, savings accounts, etc.) to a handful of multimillionaires who come out laughing in Forbes magazine.

But to safeguard investments, the Chilean State has assumed a firm commitment to business. In this sense, the bullets fired by the Jungle Command, and that ended with the murder of Peñi Camilo Catrillanca just a couple of weeks ago, not only come from a military apparatus that protects the landlord and business interests, but are also financed with money from the BancoEstado, which gives a special injection of resources to Carabineros to take care of the interests generated through the same Decree Law 701, which, by the way, was created in the middle of the Military Dictatorship, to strip the poor and marginalized. of their ancestral lands, giving them on a silver platter the resources to a troop of cynical and self centred opportunists.

However, these bacteria not only know how to take advantage of public policies, which have often given them tasty economic dividends or have swept their enemies, but have also known how to cultivate their tremendous influence and control over corrupt policies that have favoured them in big measure.

Exemplary is the case of the rescue that benefited the Edwards clan when their companies were virtually bankrupt. And it is that in the first years of the decade of the 80 the crisis had hit them with force. So much so that they had to divest themselves of several businesses to concentrate on saving the newspaper chain and the bank of their property. However, when the dollar rose from 39 to 160, the debt of El Mercurio, which was around 13 million dollars, rose to 100 million in the blink of an eye.

The dictatorship, then, extended its hand. Pinochet was interested in helping them because that was also the way to ensure their control over these means. The State Bank took over the external debt of the Bank of A. Edwards, of more than 201 million dollars, without demanding guarantees or pledging shares as the other banks.

El Mercurio, and also Copesa (who had a similar fate), remained indebted in tens of millions of dollars. When the change of government took place, its creditors could keep the newspapers and the most serious thing: the creditor that could do it was the State Bank that would go under the control of the new government. Pinochet and the military needed to keep the main written media in the hands of their supporters. They decided to move fast. The salvage operation was in the hands of Álvaro Bardón, president of Banco del Estado, the key man in the key place.

To prevent the new Concertacionist government from controlling the media once Pinochet was out of power, Bardón devised a series of swaps for the debts. The State Bank would exchange the debts of the newspapers for other debt portfolios that were held by private sector banks, leaving debts beyond the reach of the Concertación. “If not the Left would have had a monopoly on the press,” Bardón said a decade later.

The banks took the debts of El Mercurio -and also of Copesa-, transferred in exchange to the Banco del Estado other credits, not few uncollectible or of little value, which appeared overvalued. Make up balances and basic documentation was removed to leave no traces.

The owners of the private banks also received other benefits: the loans that Banco Osorno received from Banco del Estado went to Copesa. The main shareholders of Banco Osorno in 1989 were Carlos Abumohor and Alvaro Saieh who bought Copesa. The result of this triple exchange: the owners of Copesa managed to buy a large part of their debt with a 50% discount. A luxury that only super-rich can give themselves.

On the other hand, the Bank of Chile (which was the one who exchanged the debts of El Mercurio with the BancoEstado) allowed to raise the mortgage on the campus of Av. Santa María, where the newspaper’s headquarters is located [2], replacing it with 180 registered trademarks (among others the names in the regional newspapers of El Mercurio and the name of the same newspaper in other languages), names that were never used and whose value was not established. Among those 180 names was Clarín, a newspaper expropriated by the military from the Spanish citizen Víctor Pey Casado.

Thus, there was a series of exchanges and permutations in which the State, through its banking entity, took charge – in terrible business for “all Chileans” – of the debts of the richest in the country. A picturesque example is a debt swap that is not worthy of note because of its size -117 thousand dollars- but for its endorsement. The State Bank became the owner of the promissory note No. 7529, in which the Association Provider of Apples (Asproman) endorsed its debt with several thousand boxes of apples. Impresentable right?

But there is still more. BancoEstado ended up buying advertising space for the next ten years, paying in advance. A Mercury bought him 223.307 cm / column of space, immediately discounting 1.8 million dollars of debts of that year. On the other hand I bought La Tercera even more, since it sold him 82 thousand cm / column of space in exchange for 1.6 million dollars on account of his debt.

With these swaps, Agustín Edwards was able, then, to pay 11.2 million dollars to the Bank of Chile to cover a debt that three days before was 33.4 million dollars. According to estimates, for the State Bank the bailout cost 26 million dollars, directly accounted for, and directed especially to El Mercurio. It is believed, however, that the loss was much greater because in the swaps debts were received from companies that ultimately were worth much less than estimated.

In gratitude for his efforts Álvaro Bardón [3] returned to El Mercurio, this time in glory and majesty, where I work as a columnist. El Mercurio and Copesa entered the democratic scene with orderly finances, reduced and manageable liabilities, ready to continue the defence of neoliberalism and give support to Pinochet.

But not only in the dictatorial era or in the anti-Mapuche war have the capitalists received affectionate gifts from the State. How to forget the forgiveness that the Corfo (regulator of some “strategic” state companies) gave to the ex-son-in-law of Dictator Pinochet, the billionaire Julio Ponce Lerou, who not only managed to get rid of the accusation for the alienation of SQM [4] , but even fix condoning and new business with the concertacionistas who lived in La Moneda in those early years of Democracy.

Another one that received a benevolent treatment and that faced similar situation was the then General Manager of the Company of Aceros del Pacifico (CAP), Roberto de Andraca, who emerged as owner of the, until a few years ago, state metallurgical company. This cretin appropriated 105 million dollars worth of property valued at 811. BancoEstado, through the Treasury, which in turn is financed with the cash flow that millions of workers provide through different loans, would again take over the loss, evidently, without any kind of criminal prosecution.

But it is not necessary to look for such antecedents to realize that this policy continues more valid than ever. In this sense, it is sufficient to review the subsidy by the Treasury at 4% of the interest rate imposed by banks on the Credit with State Guarantee (CAE) [5], where BancoEstado pays the difference for the reduction of interest. A relief for the students. However, the interests of private banks remained exactly the same. Banks such as BCI (Yarur), Chile (Luksic), Corpbanca (Saieh), Falabella (Solari) or Bice (Matte) continued to receive 6% of real interest, with the exception that more than half of that percentage it comes out of the money of “all Chileans”.

This is how they not only evade taxes, but also profit with the State. The BancoEstado turns out to be a primordial channel in the materialization of this abusive and usurious policy, where, evidently, very few end up with the money of many.

Finally it is aberrant and even tragicomic that the State of Chile repudiates slavery in its discriminatory and racist sense, but that it approves and even encourages the slavery to which Capital subjects us with public policies including war, as in the Wallmapu.

For all these reasons, we attacked with a powerful explosive charge the branch located at Av. Cristóbal Colon No. 7306 of the wealthy Comuna de Las Condes for the night of the 02 of this month of December, as a Christmas offering in advance to the owners. of Chile, hitting twice the same objective: on the one hand we wanted to destroy one of the many tentacles with which these immoral creditors operate, while on the other we take care of making the tombs where these lords live, they begin to be dangerous for them or your interests.

If we want to promote revolutionary processes, it is key to pay attention to matters such as public policies, to know who are the miserable people who give life to these initiatives – it is essential to know the names of the boards (Presidents, Directors, Councillors, etc.) -, and above all, to the institutions that are affected by these policies, since their symbiosis will directly affect us. BancoEstado and its close relationship with business groups that move the strings of national politics are a clear example of this.

Flying the bank where these bastardxs are financed is a small contribution. We hope there are more. We take this opportunity to greet our colleague Joaquín García Chanks, who is still in captivity and in the hands of the enemy.

Force mates: you are not alone, from this humble trench we continue the fight!

We finished this text filling the memory of our brother Sebastián Oversluij Seguel with vitality insurrection. Tonight your fierce warrior spirit accompanied us; This action also goes in your honour!

Today, just like yesterday, there are still reasons to fight.

We destroy a small link with which we are trying to dominate. We will go for more!

To continue the fight against the Capital …

Multiply the attacks to the Power Centres !!

To dynamite the neighbourhoods of the rich !!

Let fear change sides !!

As long as there is misery, there will be rebellion !!

Antipatriarchal Attack Group Claudia López
Antagonic Nuclei of the New Urban Guerrilla

[1] The Case of the CMPC is revealing, which was punished by the Court of Defense of Free Competition (TDLC) to pay $ 97,647 million for having colluded in the case of the Tissue Paper Cartel, where who had some type of account At BancoEstado he received the money for the reimbursement automatically, while the rest of the citizens had to enroll in a tedious bureaucratic process.

[2] Valued at close to 4 million dollars.

[3] He also dedicated himself to academic activities: he teaches at the Finis Terrae University, where Pablo Baraona, also a member of the Chicago Boys group, is rector.

[4] Remember that the former son-in-law of the Dictator Pinochet, using privileged information, takes over Soquimich. Company, which, like many others, were state. Process occurred in the middle of the Military Dictatorship

[5] In the midst of student protests in 2011, the Piñera government announces the reduction of CAE interest to 2%.

Source: Contra Info’

Translated by Anarchic News