“Neo-Colonialism, & the Modern-Slavery of Dollar Imperialism and Debt-Based Money”
By Mark S. Brown (The Land Is Ours)
- 1: A legacy of colonialism & imperialism?
- 2: Globalisation (as we know it) is the new colonialism, run in the interests of corporations
- 2(i): Free-trade – a definition: ‘The sanctioning of market concentration for ‘merchant capitalist’ multinationals & finance capital’
- 2(ii): Dollar Imperialism & the universally-applied model of debt-based money creation by private banks
- 2(iii): Structural Adjustment Policies – Sapping the Poor
- 3: Summary
The Legacy of Colonialism Forum seeks to make these links between previous imperialist systems of injustice and the current processes driving the world economy. The unremarkable recognition is made that the same underlying process of expropriation and profit for the benefit of a few has been the driving-force underpinning both the ruthless colonial looting that occurred in Africa, Asia, Eire, Latin America and the West Indies, and present-day corporate investments that rely on speculation without respect of labour or environmental standards. For example, at the Cavite Export Processing Zone in the Philippines, 207 factories purely dedicated to producing export brands such as Nike, IBM and Gap recently employed 50,000 workers, who worked 12 hour days in military-style underpaid drudgery. The only difference now is that the whole process is accelerating at an alarming rate, wholly because the debt-based money system generates more and more perceived “value” on stock markets, within financial trading, and in the ever-faster rates-of-return of speculative investments. And this acceleration process continues because the money system based on debt is spiralling out of control, as we are also attempting to explore.
A latest development is that a link has been made with another campaign that has just been launched in London by the AFRICAN LIBERATION SUPPORT CAMPAIGN entitled “IMF & World Bank: Wanted for Fraud Campaign!”, expressing the idea that debt is no more than a measurement of the banking system’s magical generation of money. Contact: (ALISC), PO Box 21266, London W9-3YR e-mail: firstname.lastname@example.org (More details in the link at the top). The lead article, by Explo Nani-Kofi, released at the launch of this campaign in Dec. 2000: Mobilising Against the IMF and World Bank (Does the Developing World Owe the West any Debt to be Cancelled?) can be retrieved from the Legacy e-group website message archive, posted in 06/12/00 (web reference: http://www.yahoogroups.com/group/LegacyofColonialism).