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The Bitcoin Standard Podcast

261. John Perkins: The Economic Hitman

Feb 18, 2025
John Perkins, author of the bestseller "Confessions of an Economic Hitman," sheds light on the manipulative strategies that trap developing countries in debt. He critiques GDP's misleading portrayal of economic progress, revealing its impact on the average citizen. The discussion contrasts China's collaborative economic strategies with the U.S.'s military approach to global influence. Perkins also explores Bitcoin's potential as a solution for debt-ridden nations, advocating for a rethinking of international financial practices.
01:16:38

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Quick takeaways

  • Economic hitmen utilize debt strategies to enrich corporations while exploiting developing nations, leading to a cycle of dependency and poverty.
  • The misuse of GDP as a prosperity measure obscures the reality of wealth disparity, misleading nations into perceiving growth that doesn't benefit most citizens.

Deep dives

The Role of Economic Hitmen

Economic hitmen, often disguised as consultants, play a crucial role in manipulating developing nations into substantial debt. These individuals typically secure large loans from institutions like the World Bank for countries rich in resources, such as oil or lithium, promising development projects. However, the funds from these loans frequently do not reach the borrowing nations directly; instead, they are channeled to U.S. corporations to execute large infrastructure projects, benefitting mainly the elite of those countries while leaving the majority impoverished. This cycle of debt often forces countries to make concessions, including the selling of natural resources at lower prices and ceding political influence to the lending nations.

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