“There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.”
These are the words of John Adams, the second president of the United States of America.
The strategy is simple: use the IMF and World Bank to give debt to countries that have an abundance of natural resources, and structure the debt in such a way that it’s difficult or almost impossible to pay back. And when the country defaults (as you know they will), you take the advantage to set stiff conditions that hold them to ransom.
This short documentary is a shocking revelation by John Perkins, a former Chief Economist, and the author of Confessions of an Economic Hitman.
Since watching this clip, I now have a whole new perspective on why many African leaders are corrupt and appear unwilling to support their people.
This is a must watch, and please watch it to the very end!
And share your thoughts!
This is another speech he gave at a TED Conference. It’s also eye-opening.