. . . It’s About Currency and Loans
By John Perkins
...The US, the other G-8 countries, the World Bank, IMF, BIS, and multinational corporations do not look kindly on leaders who threaten their dominance over world currency markets or who appear to be moving away from the international banking system that favors the corporatocracy...
April 26, 2011 "Information Clearing House" --
WASHINGTON -(Dow Jones)- World Bank President Robert Zoellick Thursday said he hopes the institution will have a role rebuilding Libya as it emerges from current unrest...
We listen to U.S. spokespeople try to explain why we’re suddenly now entangled in another Middle East war. Many of us find ourselves questioning the official justifications. We are aware that the true causes of our engagement are rarely discussed in the media or by our government...
The US, the other G-8 countries, the World Bank, IMF, BIS, and multinational corporations do not look kindly on leaders who threaten their dominance over world currency markets or who appear to be moving away from the international banking system that favors the corporatocracy. Saddam Hussein had advocated policies similar to those expressed by Qaddafi shortly before the US sent troops into Iraq.
In my talks, I often find it necessary to remind audiences of a point that seems obvious to me but is misunderstood by so many: that the World Bank is not really a world bank at all; it is, rather a U.S. bank. Ditto, its closest sibling, the IMF.
In fact, if one looks at the World Bank and IMF executive boards and the votes each member of the board has, one sees that the United States controls about 16 percent of the votes in the World Bank - (Compared with Japan at about 7%, the second largest member, China at 4.5%, Germany with 4.00%, and the United Kingdom and France with about 3.8% each), nearly 17% of the IMF votes (Compared with Japan and Germany at about 6% and UK and France at nearly 5%), and the US holds veto power over all major decisions. Furthermore, the United States President appoints the World Bank President.
So, we might ask ourselves: What happens when a “rogue” country threatens to bring the banking system that benefits the corporatocracy to its knees?...
One definition of “Empire” (per my book The Secret History of the American Empire) states that an empire is a nation that dominates other nations by imposing its own currency on the lands under its control.
The empire maintains a large standing military that is ready to protect the currency and the entire economic system that depends on it through extreme violence, if necessary.
The ancient Romans did this. So did the Spanish and the British during their days of empire-building. Now, the US or, more to the point, the corporatocracy, is doing it and is determined to punish any individual who tries to stop them. Qaddafi is but the latest example.
Understanding the war against Quaddafi as a war in defense of empire is another step in the direction of helping us ask ourselves whether we want to continue along this path of empire-building...
John Perkins, from 1971 to 1981 he worked for the international consulting firm of Chas T. Main where he was a self-described "economic hit man."
He is the author of the new book Confessions of an Economic Hit Man.