“John Perkins, a former NSA agent and chief economist at Chas T. Main (bought by Parsons Corp, which, by the way, has won contracts worth millions of dollars to rebuild Iraq), was persuaded to stop writing this book many times by threats and bribes. His decision to begin again was influenced by the US invasion of Panama in 1980, the first Gulf War, Somalia and the rise of Osama bin Laden. He argues that the American empire, the most poweful empire in the history of the world, has been built primarily through economic manipulation, cheating, fraud, and seducing people into its way of life.
As the chief economist, Perkins' job was to arrange to give huge loans to poor countries (through IMF or the World Bank) much bigger than they could possibly repay with the condition that they would give a huge percentage of that loan to US companies to build infrastructures for them. Those companies would then go in and build highways, dams, etc, which would basically serve just a few people (ie. the wealthy ones). It's the poor people in those countries who would ultimately be stuck with this huge debt. Eventually, the US government would go in and say "you are not able to pay your loans, therefore give us your oil, etc".
Economic hit men or EHM is a tongue-in-cheek term that Perkins and his colleagues called themselves. One of the many things Perkins talked about was Iraq and how the US tried to implement a policy with Saddam Hussein that was so successful in Saudi Arabia (the deal was for the Royal House of Saud to invest its petro-dollars in US securities which interest the US Treasury then use to hire US companies to build Saudi Arabia new infrastructures. In return, the House of Saud would agree to maintain the price of oil agreeable to the US government). Saddam Hussein didn't buy this.
According to Perkins, when the EHMs fail to cut a deal with a country's leader, the US government calls in the Jackals (CIA agents) to try to foment a coup or revolution. If that fails, they try to perform assassinations. If both EHM and the Jackals fail, they send in young men and women soldiers in an invasion. Much like what's happening now in Iraq.
Another "confessions" I strongly recommend is the Nobel Prize Winner in Economics "Globalization and Its Discontents" by Joseph Stiglitz, former Senior VP and Chief Economist of the World Bank.”
nikki wrote this review Monday, September 3 2007.
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