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Title: Confessions of an Economic Hitman
Author: John Perkins
Genre: Economics/Politics/History/Memoir
ISBN: 978-0-452-28708-2
Publisher: A Plume Book of Penguin Group
Year: 2004
Colonisation no longer happens in the shape of physical control and war, but in a form of economic influence
eware of Economic Hit Man !!! They are everywhere! I have read so many conspiracy thoeries ranging from assassination attempts to the misterious ancient surviving secret fraternity of the Freemasons. So far, the story of Economic Hit Man ("EHM") seems to be very much consistent with the actual real news that we hear everyday. It makes perfect sense. Colonisation no longer happens in the shape of physical control and war, but in a form of economic influence. What is worse is that, it leaves no mercy to the well being of the people of the countries that they are attacking. So what is EHM? John Perkins, in his book, his confessions, tells it all. The secret is out on EHM. The only puzzling question that I have is,.. why is he still alive? The last time an author created a big Huu Haa (Salman Rushdie), he was sentenced to death by the former-late president of Iran (Ayatollah Khomeini).The book is a confession of an EHM. John Perkins is the EHM, or was. Reading his confession brings anger to us all in developing countries. His words reminded me instantly to the Asian economic crisis in 1997-1998 where countries like Thailand and Indonesia had to "sell" the dignity of their country to international money lenders such as International Monetary Fund ("IMF") and World Bank to the expense of their rights to certain policies which amongst others, include protectionism of local industries, monetary policies over currencies and budgets and a whole lot more. In Malaysia, they (IMF), tried to intervene by demanding that we (Malaysians) abolish certain protectionism to local industries and Bumiputera status. We decided to control our own destiny by addressing the economic issues via our own currency policies and the creation of asset management company, Danaharta.
So let's get back to Perkins and his confessions. What is an EHM? EHMs are employed by big corporations that aim to control significant economic factors of the world which includes globalisation, modernisation, currency speculation, resources exploitation and most importantly money lending! All these are only with one aim of making money out of the sufferings of others. What kind of sufferings? Well, some countries will lose their economic independence when in debt for the development of their own countries. Some are stuck in a position of not being able to improve the well being (poverty, mortality and dignity) of their countries. Some saw the destruction of their countries (eg. pollution, extinction of fauna and flora, etc).
Whilst tonnes of monies are paid for development, the basic needs such as education, medical and food are unaddressed. As a result, the country and its citizens suffer. They become poorer. You'll end up having countries with huge roads, transportation system and comprehensive power grid, but, the people are still in poverty, starving, uneducated, sick and death multiplies with natural resources and environment being raped.
An EHM operates smoothly. He appears to be the saviour by providing solutions to the Government of developing countries but with the real intentions of raping those countries of their wealth. This is how an EHM works (at least based on Perkins):
1. Identify the development needs of a country. Of course most of the time this will be developing countries that need upgrading of infrastructure such as roads, buildings, oil and gas exploration, ports, power generation and many more.
2. Provide economic advice with outrageously optimistic future projections. This is done quite convincingly using all sorts of justifications backed by historical data on variables that potray positive economic outlook. Each of the variables are slightly inflated to the extent that it does not raise any suspicions. When all inflated variables are combined and synergised, it produces an overwhelmingly positive future economic outlook. Variables can be Gross Domestic Product, Consumer Price Index, estimation of power demand, estimation of traffic, etc.
3. Based on the projections, Government(s) take up loans from world money lenders. World lenders are often connected to the mega companies for major national level development. You can search the internet to see many examples of countries that are in debt with the World Bank or IMF. These Governments have noble intentions of making their countries a better place by rushing to be on par with other developing countries or developed countries.
4. Development happens with the hope that future economic returns will pay the loans. The positive projections give hope that the country will get handsome returns that will be ample to pay off those loans in the future and at the same time provide surpluses to address the countries' other needs such as education, medical and elimination of poverty.
5. Development projects are awarded to selected firms associated with the lenders. As part of the terms and conditions of the monies being lended to these Governments, they are obliged to appoint consultants, engineers, scientists and other professionals from firms of the lenders' choice. As you may have guessed, all these professionals and the lenders, are connected. A big network of EHM per se.
6. Years down the road, the projections prove to be unreliable. With the over optimistic projections to begin with, obviously the reality kicks in when the actual economic growth of those countries did not achieve the level intended, leaving behind very little to provide for.
7. Money has already been paid to the firms that undertake the projects. Like it or not, these Governments are obliged to pay for the projects in order to continue the development of the country. The monies came from the network of EHM and now it returns back to the EHM via these projects done by firms of their (EHM) choice.
8. The country defaults on the loan repayments. Obviously when monies have to be paid for the projects and other immediate needs of those countries, there will be little left to repay back the loan.
9. The lenders demand other forms of repayment that gives more money to them (EHM). So how does this work? Well, when you default on loans, you are at the mercy of the lenders. You either declare for bankrupcy or you adhere to their additional demands. This is where the lenders will get many other projects or business opportunities to make more money; such as the right to do oil and gas explorations, enter the financial markets with unlimited barriers to trade and many more. The worst is political mileage that the EHMs can have on the Governments of those countries such as favours for United States military bases, United Nation votes or non-alignment with countries not in United States' favour - i.e. having the say on who should hold political offices. It is only logical that poor countries with rich natural resources are the usual victims of EHM.
10. The country becomes poorer and instead under developed. The country has no money left to pay for the necessities of the countries. Whilst tonnes of monies are paid for development, the basic needs such as education, medical and food are unaddressed. As a result, the country and its citizens suffer. They become poorer. You'll end up having countries with huge roads, transportation system and comprehensive power grid, but, the people are still in poverty, starving, uneducated, sick and death multiplies with natural resources and environment being raped. In the end, the lenders, the consultants, the EHMs, the "Devils", laugh their way out of the country robbing wealth at unforgiveable proportions.
(Note: There may be an 11th stage: If all of the above fails, "they" will send in the proper "hit man" to assassinate political leaders who do not adhere to their demand until someone in office bow to them).
So there you go. Those 10 (or 11) stages above basically happened to many countries. Perkins himself provided many examples in his book. It is indeed a sad case, or cases, for many countries have sold their souls to the devils we now call EHMs. So, beware! of EHM !!! They are the worst kind of human ever exist. In fact, they'd probably need to be excluded from the definition of "humans".
John Perkins shared his true experience of being an EHM and the basic concepts of an EHM are as what I have described earlier. To further vouch for his (Perkins) confessions, examples (real life examples from history) ought to be made known. The following are some devastating ones which I find disturbing as revealed by Perkins in his book Confessions of an Economic Hit Man. God help them (the effected nations):
Ecuador is in far worse shape today than she was before EHM introduced her the miracles of modern economics, banking and engineering. Since 1970, during this period known euphemistically as the Oil Boom, the official poverty level grew from 50% to 70% with unemployment increased from 15% to 70%, and public debt increased from USD240 million to USD16 billion. Meanwhile, the share of national resources allocated to the poorest segments of the population declined from 20% to 6%. For every USD100 of crude oil taken out of Ecuadorian rain forests, the oil companies (member of the EHM network) receive USD75. Of the remaining USD25, three quarters must go to paying off the foreign debt - Prologue of Confessions of an Economic Hit Man
Panama was installed with a puppet Government in 1903 when President Roosevelt sent in the U.S. warship Nashville. U.S. soldiers landed, seized and killed a popular local militia commander and declared Panama an independent nation. The first Canal Treaty was then signed to establish an American zone on both sides of the waterway, legalised U.S. military intervention and gave Washington virtual control over the newly formed independent nation - Chapter 10 of Confessions of an Economic Hit Man
Saudi Arabia depended on the United States via the modernisation of the oil-rich kingdom which triggered adverse reactions with conservative Muslims feeling furious and Israel feeling threatened. The U.S. military and defense industry benefited such situation from generous contracts of long-term service in the military related constructions including airports, missile sites, personnel bases and associated infrastructure. Saudi Arabia does not need loans to finance all these. A different approach was required. Whichever way it was done, the EHM wanted the Saudis to guarantee to maintain oil supplies with prices at levels that are acceptable to the United States. In addition, they (EHM) also managed to get the Saudi's to purchase U.S. Government securities. Whichever way it was, the money still went their (EHM) way - Chapter 15 of Confessions of an Economic Hit Man
Venezuela had its national budget quadrupled during 1973 OPEC oil embargo that caused petroleum prices to skyrocket. International banks flooded the country with loans that paid for vast infrastructure and industrial projects and for the highest skyscrapers on the continent. Then oil prices crashed and Venezuela could not repay its debts. In 1989 the IMF imposed harsh austerity measures and pressured Caracas to many of their (EHM) terms and conditions. Venezuela's per capita income plummeted by over 40% - Chapter 33 of Confessions of an Economic Hit Man
Bolivia opened the door for multinationals (EHMs) to privatise its water supply system. Prices of water skyrocketed and Bolivians claimed that service was suspended to thousands of people - Epilogue of Confessions of an Economic Hit Man
Cote d'Ivoire experienced increase in prices of telephone services by privatised telephone company managed by a foreign firm (EHM). The prices were too high that many people had to forego connections to the system including university students who needed the service for their internet essentials for studies - Epilogue of Confessions of an Economic Hit Man
Tanzania had policies that led to appalling situation where children have to pay to go to school and many are simply too poor to do so - Epilogue of Confessions of an Economic Hit Man
In the end, the lenders, the consultants, the EHMs, the "Devils", laugh their way out of the country robbing wealth at unforgiveable proportions
* kopihangtuah
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