We Study Billionaires - The Investor’s Podcast Network BTC181: The US's Economic Hitman w/ John Perkins
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May 8, 2024 John Perkins, author of "Confessions of an Economic Hitman," shares his insights as a former economic hitman, detailing how his manipulative actions impacted global economies. He critiques the fiat system, illustrating its role in debt creation and exploitation of developing nations. Perkins emphasizes the potential of Bitcoin and decentralized technologies to disrupt traditional economic controls. He also reflects on his personal journey and motivations for advocating systemic change, shedding light on the complexities of global finance.
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The Economic Hitman's Role
- John Perkins' official role was chief economist, but his true job was to indebt resource-rich countries.
- He'd arrange large loans, often used for infrastructure projects, benefiting US corporations and select local elites.
Debt Trap Imperialism
- The "debt trap" is a form of imperialism where nations are intentionally indebted to establish economic control.
- This system benefits corporations more than citizens, as profits often avoid taxation.
Resource Collateral and Misleading Growth
- Perkins used countries' own resources, like oil in Ecuador, as collateral for loans, ensuring future control if they defaulted.
- Economic growth reports made these deals appealing to leaders, but masked the long-term consequences for the general population.
