Red Smed

and the
Hot Trot Smash the System
Boogie Band

Red Smed: lead vocals, guitar, accordion, keyboards
Captain Balderelli: Mandolin
Matt -Midnight Mango- Bartlett: Bass
Jo Cox: Flute,Vocals
Elaine di Campo-Vocals
Tess Clarke- Violin, Vocals
Nervo-Drums
Cathy Smedley-Vocals

From 18-28 September the World Bank and International Monetary Fund is meeting in Prague in order to further plan the take over of the world by the multi-nationals. The Hot Trot Smash the System Boogie band are an Anarcho-Communist collective devoted to the overthrow of everything that the International Capitalist system holds dear.

Lead guitarist, Red Smed (19) says The IMF squeezes billions from the poor every year. It was set up in 1944 along with the World bank to oversee the Global economy in the interests of the richest countriesparticularly the United States. In the last 2 decades it has squeezed billions of pounds from the worlds poorest countries in debt repayments. Between 1980 and 1992 the poorest countries paid three times more to the IMF and the World bank than their original debt

Drummer Kevin Freeman (15) says Thats right, no poor country can get a loan from the IMF and World bank unless it agrees to s Structural Adjustment programme. These open up the economy to the multinationals, privatise state-owned companies, slash workers rights,wages and conditions and impose severe cuts on vital public spending. Failure to implement these policies means that the IMF cancels the loan.

Mandolin player Reggie Mental (40) added Everyone can see the IMF has opened up the World to exploitation by the huge multinational firms. SAPs outlaw subsidies and price controls on staple goods. This opens up sectors to foreign firms and drives local producers to the wall. For instance after an IMF Shock treatment in Peru in 1991 the price of petrol increased 3,000 percent overnight and bread by 1,100 percent. IMF so-called adjustment means forcing poor countries to adjust to the interests of the multinationals.

Jo Cox ,flute/backing vocals (56) insisted on developing the argument as to how IMF policies wreak havoc on the environment IMF programmes are behind the drive for deforestation in indebted countries. Governments in these countries generate fast cash to pay the interest on debt by deforesting large areas. This can have devastating effects. Thousands of the deaths during Hurricane Mitch in 1998 were directly due to mud slides on deforested areas. The IMF forces farmers to produce a single crop for export as quickly as possible. This increases the likelihood of pests and viruses which cause crop failure.

Elaine di Campo vocals (17) says The debt burdens of the poorest countries kills 19,000 children every day. The poor countries of Sub Saharan Africa owe more than £300 billion in debt-three times more than they earn annually through exports. In Ethiopia debt repayments are four times greater than spending on health. In Tanzania, where 4- percent of people die before the age of 35, debt repayments are six times more than health spending. The IMF alone has transferred over £3billion out of Africa snce the mid-1980s.

Mac McCausland-vocals (109) wanted to stress the effect on the workers of the world Workers suffer wage cuts, longer hours and greater exploitation. The IMF demands that labour markets should be deregulated and flexible-this means destroying job security, cutting restrictions on working hours, making it easier for bosses to sack people, smashing trade unions and ignoring safety regulations. Real wages in nearly every African country have fallen between 50 and 60 percent since the imposition of IMF programmes.

Matt Bartlett (12) bass guitar and deep thinking in the corner, said The IMF justifies its policies by saying that they will lead to economic growth but this is a con! A survey of 76 countries implementing IMF structural Adjustment programmes found out that only 4 had consistently improved their economic performance. After the 1997 Asian crisis the IMFs medicine for recovery for Indonesia resulted in an extra 40 million people falling below the poverty line

Red Smed summed up so you see the IMF means the rich and powerful pull the strings. The 5 biggest multinationals, run by around 40 people, have a bigger output than the Middle east and Africa combined. These few individuals make decisions about what is produced, who has jobs and who lives and dies in poverty. Its undemocratic and unaccountable representing countries according to the size of their economies and not the needs of their people. The US with 5 percent of the worlds population has 17% of the IMF votes. The G7 countries together have 45% of the votes leaving the other 200 + countries with 55% between them!

RED SMED AND THE HOT TROT SMASH THE SYSTEM BOOGIE BAND have produced a new album PARRETGRAD UK which will be on sale for £5 with funds going to support the protests against Globalisation.

For further information contact
smedlo@globalnet.co.uk

Or phone 01278 429002

Click Here for the Bridgwater-Czech/Slovak link