Alrighty, I *finally* found it - been looking for it for a few days and was really bothering me. Anyway, here's one for all the conspiracy theorists. It's an excerpt from the book 'The Best Democracy Money Can Buy' by Greg Palast and he's being told a little story by one Joseph Stiglitz - former chief economist at The World Bank, who grew a conscience and now fights for the other side. Here's a link to the guy's webpage so you know I'm not making him up - http://www2.gsb.columbia.edu/faculty/jstiglitz/bio.cfm.
The excerpt is on page 154 in the chapter 'Sell The Lexus, Burn The Olive Tree' and is the last paragraph on that page (in my edition anyway).
'For example, Stiglitz told me about an unhappy meeting, early in his World Bank tenure, with the President who had just been elected in Ethopia's first democratic election. The World Bank and IMF had ordered Ethiopia to divert European aid money to its reserve account at the U.S. Treasury, which pays a pitiful 4 percent return, while the nation borrowed U.S. dollars at 12 percent to feed it's population. The new President begged Stiglitz to let him use the aid money to rebuild the nation. But no, the loot went straight off to the U.S. Treasury's vault in Washington.'
Note that this only happened in the last ten years or so, as Stiglitz worked at The World Bank from 1997 - 2000.
Well there you have it. Straight from the horse's mouth. Now I know that there are going to be people that claim it's all 'lies' or 'conspiracy theory nonsense'. Whatever. A statement from the man who actually made it happen - proof that the United States Government stole aid money from a nation for profit.
This happens all over the world. It's happening everyday. Money and assets are continuously being siphoned from the poorest countries and given to the rich, who often use them to make money from the people they stole from. How can anyone honestly believe that people living in poverty (hell, even people who have jobs that pay a sustainable wage) in these countries have a choice when the richest countries in the world strip them of everything they own?
Mark
The excerpt is on page 154 in the chapter 'Sell The Lexus, Burn The Olive Tree' and is the last paragraph on that page (in my edition anyway).
'For example, Stiglitz told me about an unhappy meeting, early in his World Bank tenure, with the President who had just been elected in Ethopia's first democratic election. The World Bank and IMF had ordered Ethiopia to divert European aid money to its reserve account at the U.S. Treasury, which pays a pitiful 4 percent return, while the nation borrowed U.S. dollars at 12 percent to feed it's population. The new President begged Stiglitz to let him use the aid money to rebuild the nation. But no, the loot went straight off to the U.S. Treasury's vault in Washington.'
Note that this only happened in the last ten years or so, as Stiglitz worked at The World Bank from 1997 - 2000.
Well there you have it. Straight from the horse's mouth. Now I know that there are going to be people that claim it's all 'lies' or 'conspiracy theory nonsense'. Whatever. A statement from the man who actually made it happen - proof that the United States Government stole aid money from a nation for profit.
This happens all over the world. It's happening everyday. Money and assets are continuously being siphoned from the poorest countries and given to the rich, who often use them to make money from the people they stole from. How can anyone honestly believe that people living in poverty (hell, even people who have jobs that pay a sustainable wage) in these countries have a choice when the richest countries in the world strip them of everything they own?
Mark