GFC Video Production Diary - Day 1
Independent Films, Documentaries
Go behind the scenes of the first day of shooting of GFC: GUNPOINT FINANCE CREDITOR
The world is experiencing the worst economic conditions since the Great Depression. This is the first global crisis of the 21st Century. Languishing in the shadows, ready to take advantage of vulnerable and unsuspecting citizens is the "Gunpoint Finance Creditor"; a man with the singular objective of baiting already susceptible debtors in to his web of treachery, deceipt and never-ending debt. The Global Financial Crisis is just the beginning.
Transcripts / Production notes / Scripts
Greed. Excess. Debt.
These words have now come to define the world and this age of economic crisis. As individuals to huge corporations de-leverage themselves from the excesses of the past, the irony struck me that crises like these bring in to public consciousness the otherwise opaque nefariousness of the financial world; and that human nature will always follow the path of greed while the conditions allow it.
From the United States, to Europe, to Asia, and to my home country of Australia, the talk of regulation and fiscal stimulus dominated the headlines as big institutions and investment banks went down in spectacular fashion. Daily headlines would emerge, with the ultimate embodiment of this clichéd rhetoric resulting in the crisis’ ultimate catch-phrase, which inspired me to make this film: “GFC – Global Financial Crisis”. We now had a label and an acronym for this era to mark in the history books.
Bombarded with media coverage for several months starting in late 2008, I became simultaneously distressed and angered by what was happening. The solutions posed to fix the problem were the exact same ideas that started our problems in the first place. The people asked to carry out the rescue were from the same pedigree that got us into trouble. One fact seemed unquestionable: Western society functions on debt. In the wake of the credit crisis (read debt crisis), we hear experts in the media say you must get out of debt to maintain good financial health, yet it is now obvious the system needs you in debt merely to function. In understanding this concept, I realised that the system can crush individuals as easily as it can reward them.
“GFC: Gunpoint Finance Creditor” is a study of the financial system within which we live, represented here by two characters; the ruthless creditor with the ultimate bait and the hapless debtor who gets in over his head. The creditor needs a reliable debtor to peddle his product because he needs to satisfy his investors. The debtor needs the creditor to finance his standard of living, but in doing so, cannot avoid his obligations to pay back what he owes. It is such a simple relationship based on perceived acceptable risk, yet the whole world has been brought to its knees by not adhering to the common sense implied and required in this type of relationship.
The film is my statement on the economic times within which we live. We live for debt. We die for debt. Corporations take advantage of our need for debt. The media sensationalises debt. Do we really need it? Is there a better system? Are we doomed to repeat this over and over again?
The global financial crisis is just the beginning.
Year of Production: 2009