Speculation, Winners, Losers and Odious Debts: Finance Against Economy, 5
Indeed, sifting through the whole economy to separate the wheat from the chaff, honest debt from odious debt, is a monumental feat. But each of us should nevertheless develop a careful, critical, enquiring look on the subject as part of one’s own responsibility as a citizen. And as a human being.
That of odious debt is a thick maze; however, we have as guidelines the basics we have seen before under crimes against humanity, whom all add up to the creation of purchasing power out of nothing and the ensuing unbridgeable competitive advantage, originated by, and at the disposal of, suppressive, criminal, PTS individuals and intentions. The step forward here is conceiving conceptually, and detecting in the facts, how all the world’s gold, or an unbridgeable competitive advantage, can be used not only to buy anything and anyone out bluntly, but also to sweep them stealthily off their feet by sliding them into odious debt. And not so stealthily, eventually.
A high−scale level of that is documented by John Perkins in his Confessions of an Economic Hit Man. The main characters of this kind of drama are: on the downside, “developing” countries; on the upside, big, often multinational corporations, supranational financial entities supposedly in charge of “helping” countries to “develop”, and the moneypulators pulling the strings of both; in the middle, those countries’ more or less plausible and democratic politicians and officials. And the economic hit men doing the dirty work.
Obviously enough as usual, these countries are slid into odious debt by bribing their rulers into buying on credit huge supplies of things the country certainly cannot afford and probably does not need in the first place, sold by those corporations and financed by those entities. Needless to say, the process includes replacing the rulers with bribable ones if those in office are not – by any means necessary, murder included –.