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'Til death do us part ~ Part 2 - Following up on Lambert's earlier post 'Til debt do us part (Nov 10, 2004)

Brilliant post from Steve Gilliard on debt here. Go read. If you want to disentangle yourself from Bush's America, dealing with debt is a good place to start.

Here's an insiders take on how that entanglement works on a national and multinational - global - scale:

U.S. multinatioinals get the contracts, and when the poor countries fall behind in payments, take over their economies. Confessions of an Economic Hit Man is a blistering attack on the inner workings of rich government and corporate policies that create globalization and the poverty of millions of people around the world. - Powells Books

Bush/Gore Pres. debate Oct 11 2000:
MODERATOR: Does that give us -- does our wealth, our good economy, our power, bring with it special obligations to the rest of the world?

[George W.] BUSH: Yes, it does. Take, for example, Third World debt. I think we ought to be forgiving Third World debt under certain conditions. I think, for example, if we're convinced that a Third World country that's got a lot of debt would reform itself, that the money wouldn't go into the hands of a few but would go to help people, I think it makes sense for us to use our wealth in that way, or to trade debt for valuable rain forest lands, makes that much sense, yes. We do have an obligation, but we can't be all things to all people. We can help build coalitions but we can't put our troops all around the world. We can lend money but we have to do it wisely. We shouldn't be lending money to corrupt officials. So we have to be guarded in our generosity.

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[from transcript] Via Democracy Now - Tuesday, November 9th, 2004, "Confessions of an Economic Hit Man: How the U.S. Uses Globalization to Cheat Poor Countries Out of Trillions":

John Perkins describes himself as a former economic hit man - a highly paid professional who cheated countries around the globe out of trillions of dollars. 20 years ago Perkins began writing a book with the working title, "Conscience of an Economic Hit Men."

Perkins writes, "The book was to be dedicated to the presidents of two countries, men who had been his clients whom I respected and thought of as kindred spirits - Jaime Roldós, president of Ecuador, and Omar Torrijos, president of Panama. Both had just died in fiery crashes. Their deaths were not accidental. They were assassinated because they opposed that fraternity of corporate, government, and banking heads whose goal is global empire. We Economic Hit Men failed to bring Roldós and Torrijos around, and the other type of hit men, the CIA-sanctioned jackals who were always right behind us, stepped in.

[...]

AMY GOODMAN: Okay. Explain the company you worked for.

JOHN PERKINS: Well, the company I worked for was a company named Chas. T. Main in Boston, Massachusetts. We were about 2,000 employees, and I became its chief economist. I ended up having fifty people working for me. But my real job was deal-making. It was giving loans to other countries, huge loans, much bigger than they could possibly repay. One of the conditions of the loan–let's say a $1 billion to a country like Indonesia or Ecuador–and this country would then have to give ninety percent of that loan back to a U.S. company, or U.S. companies, to build the infrastructure–a Halliburton or a Bechtel. These were big ones. Those companies would then go in and build an electrical system or ports or highways, and these would basically serve just a few of the very wealthiest families in those countries. The poor people in those countries would be stuck ultimately with this amazing debt that they couldn't possibly repay. A country today like Ecuador owes over fifty percent of its national budget just to pay down its debt. And it really can’t do it. So, we literally have them over a barrel. So, when we want more oil, we go to Ecuador and say, "Look, you're not able to repay your debts, therefore give our oil companies your Amazon rain forest, which are filled with oil." And today we're going in and destroying Amazonian rain forests, forcing Ecuador to give them to us because they've accumulated all this debt. So we make this big loan, most of it comes back to the United States, the country is left with the debt plus lots of interest, and they basically become our servants, our slaves. It's an empire. There's no two ways about it. It’s a huge empire. It's been extremely successful.

[...]

AMY GOODMAN: You're actually called economic hit men --e.h.m.’s?

JOHN PERKINS ...in Iraq we tried to implement the same policy that was so successful in Saudi Arabia, but Saddam Hussein didn't buy. When the economic hit men fail in this scenario, the next step is what we call the jackals. Jackals are C.I.A.-sanctioned people that come in and try to foment a coup or revolution. If that doesn't work, they perform assassinations. or try to. In the case of Iraq, they weren't able to get through to Saddam Hussein. He had -- His bodyguards were too good. He had doubles. They couldn’t get through to him. So the third line of defense, if the economic hit men and the jackals fail, the next line of defense is our young men and women, who are sent in to die and kill, which is what we’ve obviously done in Iraq.

[...]

AMY GOODMAN: Can you explain how Torrijos died?

JOHN PERKINS: Omar Torrijos, the President of Panama. Omar Torrijos had signed the Canal Treaty with Carter much -- and, you know, it passed our congress by only one vote. It was a highly contended issue. And Torrijos then also went ahead and negotiated with the Japanese to build a sea-level canal. The Japanese wanted to finance and construct a sea-level canal in Panama. Torrijos talked to them about this which very much upset Bechtel Corporation, whose president was George Schultz and senior council was Casper Weinberger. When Carter was thrown out (and that’s an interesting story–how that actually happened), when he lost the election, and Reagan came in and Schultz came in as Secretary of State from Bechtel, and Weinberger came from Bechtel to be Secretary of Defense, they were extremely angry at Torrijos -- tried to get him to renegotiate the Canal Treaty and not to talk to the Japanese. He adamantly refused. He was a very principled man. He had his problem, but he was a very principled man. He was an amazing man, Torrijos. And so, he died in a fiery airplane crash, which was connected to a tape recorder with explosives in it, which -- I was there. I had been working with him. I knew that we economic hit men had failed. I knew the jackals were closing in on him, and the next thing, his plane exploded with a tape recorder with a bomb in it. There's no question in my mind that it was C.I.A. sanctioned, and most -- many Latin American investigators have come to the same conclusion. Of course, we never heard about that in our country.

Go read it all. Democracy Now

Also see: Globalism's Discontents, by Joseph E. Stiglitz, January 1-14,2002, The American Prospect.

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