World Bank No White Knight: Insider

Posted on Sunday, March 20 at 15:24 by 4Canada
Wolfowitz, who has said he had development experience during his stint as U.S. ambassador to Indonesia in the 1980s, will be subjected to a rare series of interviews by the bank's executive directors, following widespread protest. But the U.S.'s major voting share on the 24-member board may guarantee his acceptance. However, Perkins says, the bank is only part of a bigger problem.

He is the author of the best-selling Confessions of an Economic Hit Man, an attack on an American-dominated international system which, he says, destroys vulnerable people and societies to benefit large U.S. interests: "The system is a corporatocracy and it's not designed to help those who need it most," he charges. "On the contrary, it does them harm."...

Full article: Wolfowitz nomination encourages author to speak out [Proofreader's note: this article was edited for spelling and typos on March 21, 2005]

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  1. by mk
    Mon Mar 21, 2005 12:36 am
    Useful Democracy Now! interview with Perkins:<br />
    <br />
    <a href="http://www.democracynow.org/article.pl?sid=04/11/09/1526251">http://www.democracynow.org/article.pl?sid=04/11/09/1526251</a>

  2. by mk
    Mon Mar 21, 2005 12:40 am
    Here's his homer page: <a href="http://www.johnperkins.org/">http://www.johnperkins.org/</a> <br />
    <br />
    His book has received a lot of press lately, but check out the bio on his home page (I'll say no more). Has anyone fact-checked this guy?<br />
    <br />

  3. Mon Mar 21, 2005 1:05 am
    I have read his other books and they are quiet good,this last one is a good read,but I must admit I am questioning his story.I have no way of checking his background.If in fact he did work for the NSA,they will never admit it.
    Perhaps someone out there knows more.

  4. by mk
    Mon Mar 21, 2005 2:47 am
    His other titles, like:

    "Psychonavigation" - First hand accounts of how diverse tribal cultures travel beyond time and space by means of visions and dream wanderings.

    "The World Is As You Dream It" - Shamanic techniques from the Amazon and Andes. Revolutionary dream-changing concepts to access inner power for personal and communal healing.

    Or how 'bout his tour:

    "March 18 - 20, 2005, Omega at the Crossings, Austin TX

    Shapeshifting Ourselves and Organizations - Transforming the Economic Hit Man Mentality through Higher Consciousness"

    Combining techniques used by ancient mystery schools, shamans, and EHM to create new levels of consciousness that fulfill Mayan, Quechua, Hopi, Tibetan, and other prophesies."

    His website has an email address, I asked for his credentials. Not expecting much.

    I'm trying to keep an open mind, but this guy's website doesn't exactly inspire confidence. Surely *one* of these many blogs, radio shows (Democracy Now!), etc. fact-checked this guy, right?

  5. by mk
    Mon Mar 21, 2005 2:53 am
    Found this ... <a href="http://www.economichitman.com/pages/veracity.html">http://www.economichitman.com/pages/veracity.html</a><br />
    <br />
    But it's from the publisher, so...

  6. Mon Mar 21, 2005 3:56 am
    I see (New) World (Order) Bank dealing with a bit of bad PR these days.

    Anyone catch "Wolfowitz at the World Bank's Door"
    by William Norman Grigg, over at thenewamerican?

    quote:
    "A recent World Bank study grudgingly admitted: "Somalia boasts lower rates of extreme poverty and, in some cases, better infrastructure than richer countries in Africa." This is almost certainly because it is not cursed with a World Bank-subsidized central government to siphon away the nation’s wealth."

    well folks, wake up and smell the coffee. I contest the world is being put through convulsions exactly because the world doesn't need these thievig SOB bankers. The bankers beg to differ, so the warring proceeds.

    BASTURDS

    but, such is the way of the world. 2% of the population doesn't want to give up one scrap of the 90% of the worlds wealth they control...

  7. Mon Mar 21, 2005 4:17 am
    Anyone catch the rise in Canadian holdings of US treasuries?

    While everyone seems to be looking at the Caribbean numbers, and whispering 'hedge fund pirates' and 'US Fed back door ponzi scheme", I notice no-one has mentioned the record Canadian holdings.

    Now, what do you guys think of that? Who here would surmise that this is Canada's contribution to American warring in the Mid East? Or perhaps Canada's real answer to BMD? (which would be: We don't want it, but here, we'll increas e our buying of your treasury bumwad and call the whole thing even)

    Y'know, there's no way in H$ll the Americans will repay their debt. Cripe, they can hardly handle paying the INTEREST. The whole thing will default next 6 years (plus/minus one or two)

    Hey, I don't mind the USA defaults. One thing I do mind, I hope they don't pull a Castro and let the American debt deadbeats storm our border.

  8. Mon Mar 21, 2005 5:13 am
    We are probably buying some of the debt the Asian banks are selling. I think you are right, China might reduce some of their holdings over the next year. Who is going to sop that up? Maybe it will cool the U.S. and their economy at the same time.

  9. by mk
    Mon Mar 21, 2005 3:56 pm
    Email response from the publisher was a version of the above document, saying copies of documents referred to would be sent upon further request. I'm still suspicious.

  10. Mon Mar 21, 2005 10:37 pm
    Rumour, within three days of the US President signing the new bankruptcy bill, the US Fed will hike interest rates a full percentage point or more. Next Fed meeting in early May and House action on the bill still pending ( but almost a greased-sure bet ) . Tomorrow's Fed meeting looks to us like a quarter point - no reason to scare the lemming this close to the cliff STORY. We expect the Fed may even think about a 1/2 point hike.

    The second rumour is that the Chinese have told the Bush administration that within the next 30 days they must under threat of China destroying us economically, renounce the separate status of Taiwan from Mainland China - and must do so in a very visible forum - like a UN speech or other world-watched venue. Otherwise, says the rumour, the Bush administration will face dollar dumping of an untold scale, which would result in domestic hyperinflation. We expect Rice is in Beijing today responding after talking with leaders all over ASIA."

    rumours courtesy of George Ure

  11. Tue Mar 22, 2005 9:44 am
    George Ure,

    Neither of those rumours sound very good for the USA. That bankruptsy bill really sounds harsh. And, I read that most personal bankruptsies are due to medical bills that cannot be paid.

    The US may experience with China what Canada did when we had such a huge deficit not that long ago. Except I think it was the USA that had us over a big debt barrel. Could be why so many of our companies are now US owned and controlled? Any country having that kind of control over another is not a good thing. I feel for the undeveloped nations being forced into World Bank loans and essentially losing their sovereignty because of it.

    ---
    "Yeah, well, [Mr. President] we used all five fingers because that's the way our mittens are made." Antonia Zerbisias

  12. Wed Mar 23, 2005 5:42 am
    courtesy of Mozel @ kitcomm.com

    "A country that secretly buys its own bonds to hold down interest rate rises due market perception of increased sovereign or country risk is using the financial moral equivalent of an A bomb, which slays noncombatants and combatants indiscriminately.

    Every country which is paying a premium interest on its bonds due to market evaluation of sovereign or country risk is damaged.

    Every country not so paying because of sound fiscal policy is also damaged because its virtue is unrewarded.

    On the assumption that Gresham's Law will apply to bonds as well as currencies, the spread of the practice would be expected to spread like a contagion. It offers what every government lusts after: the ability to spend in deficit without being punished.

    Off balance sheet financing makes all this not only possible but inevitable.

    The ability to quantify sovereign or country risk and to be rewarded for increased risk would be taken away from the creditor."



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