Posted by: jung May 10, 2007
ADB's Melamchi Withdrawal Warning!!
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well, mr newstudent i wasn't making up my mind just based on the above article. i was only forwarding an argument. here is another. perhaps u might have heard about john perkins. he is the author or Confessions of Economic Hitman AMY GOODMAN: Well, before we move further, your experience with it? Explain the vantage point you come from. What does it mean to be an economic hit man? JOHN PERKINS: Well, what we've done -- we use many techniques, but probably the most common is that we'll go to a country that has resources that our corporations covet, like oil, and we'll arrange a huge loan to that country from an organization like the World Bank or one of its sisters, but almost all of the money goes to the U.S. corporations, not to the country itself, corporations like Bechtel and Halliburton, General Motors, General Electric, these types of organizations, and they build huge infrastructure projects in that country: power plants, highways, ports, industrial parks, things that serve the very rich and seldom even reach the poor. In fact, the poor suffer, because the loans have to be repaid, and they're huge loans, and the repayment of them means that the poor won't get education, health, and other social services, and the country is left holding a huge debt, by intention. We go back, we economic hit men, to this country and say, “Look, you owe us a lot of money. You can't repay your debts, so give us a pound of flesh. Sell our oil companies your oil real cheap or vote with us at the next U.N. vote or send troops in support of ours to some place in the world such as Iraq.” And in that way, we've managed to build a world empire with very few people actually knowing that we've done this.
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