Dismiss Notice
Join Physics Forums Today!
The friendliest, high quality science and math community on the planet! Everyone who loves science is here!

News Confessions of an Economic Hit Man

  1. Mar 5, 2005 #1
    I've been hearing a lot about this book lately and apparently it has topped the NYT's best seller list. Having looked into some interviews I decided it was a a good idea to pass it along and see what kind of feedback the forum would give. Here is a quote from the author's site:

    The rest of the preface and prologue are on his site. Here is a link to a book review:

    http://www.rockymountainnews.com/drmn/books/article/0,1299,DRMN_63_3388037,00.html [Broken]

    And here is a short interview:

    http://www.pressaction.com/news/weblog/full_article/jackowski01192005/ [Broken]

    Given the claims made by the author, it seems to me that when we are to consider politics, once again, the key perspective is always one of economics. It can be never be stated enough that politics and economics are inseparable. To say otherwise is a fallacy and tremendous error of judgement.

    Last edited by a moderator: May 1, 2017
  2. jcsd
  3. Mar 5, 2005 #2
    In this day and age, I'm not surprised these guy actually exsist. Its the age old combination of sex, politics and money with a modern day twist. Nowadays we need to have some interesting piece of literature about the kind of economic games our government plays with other countries. I'd be surpirsed to learn how these guys don't get caught. There has got to be some legal loophole they get out through, either that or they are just sickeningly good at what they do.
  4. Mar 5, 2005 #3


    User Avatar
    Gold Member

    Without reading the book--in all fairness, my first thought is that state governments have been ripping off international finance institution/programs forever. Also state governments have been counterfeiting U.S. currency (only limited organizations, such as state governments have the resources to do this) to such an extent the U.S. had to change the currency. And heck, even the institutions themselves are up to no good, i.e., the UN oil-for-food scandal. In view of Haliburton, I guess our own VP is in on this? Who needs to hire EHMs to do the job? - It’s such a saturated scam. I do agree the global nature of the economy has changed the way the world operates, and that money is tied to everything. Just look at the exchanges made by corporations without regard to what is being sold to whom, trade agreements, etc.
  5. Mar 5, 2005 #4

    Its probably called diplomatic immunity.

    With that, you can smuggle heroine into another country, with complete impunity. You could be caught handing the heroine over to a dealer, cash in hand, and be immune.
  6. Mar 5, 2005 #5
    Humans are so good at pulling off scams though. The government probably though that if everyday Joe Shmoes can get away with coning people, why can't they? Just on a much bigger playing field.
  7. Mar 5, 2005 #6
    Very true. More than likely how they get away with it. If they don't then chances are they get charged with possesion with intent to sell, smuggling, and/or money laundering.
  8. Mar 6, 2005 #7
    It has been said many times:

    "The rich are different! They have money."

    With a whopping load of cash one can get away with murder and face no consequences, except a bill to pay off the right people.

    So apparently it comes down to greed, that is the only value that is left. Talk about reductio ad absurdum.
  9. Mar 6, 2005 #8
    steal a little go to jail
    steal a lot
    and they make you a king
  10. Mar 6, 2005 #9


    User Avatar
    Staff Emeritus
    Gold Member

    It's guys like this that are the reason I never give to aid organizations.
  11. Mar 7, 2005 #10
    Thats a pretty good saying. I've never heard that. It could be said the importance of the economic hit men revolves around that little saying. I mean, seriously, why would the government want to have the most money, goods, and resources? Its simple: To have pull over everthing else and whatever you want. I like that saying.
  12. Mar 8, 2005 #11
    paraphrased from a bob dylan song
    because I couldnot remember the exact line
  13. Mar 8, 2005 #12
    Ha! And all along you thought I was crazy! but as soon as someone publishes a book about it EVERYONES ON BOARD WITH THE IDEA! gah!
  14. Mar 9, 2005 #13
    Confesions from the WINNER OF THE NOBEL PRIZE IN ECONOMICS AND EX World Bank’s former Chief Economist’s

    http://www.gregpalast.com/detail.cfm?artid=78&row=1 [Broken].

    The World Bank and the Secret Argentine Plan
    Transcript of Interview of Greg Palast, Journalist for BBC and Observer, London, by Alex Jones
    Last edited by a moderator: May 1, 2017
  15. Mar 9, 2005 #14
    :rofl: yeah the opium war, we were bullied and beaten, we swallowed the blood, the broken teeth, the pride and slowly tried to find our footing. Took us 150 years, that's all.
  16. Mar 10, 2005 #15
    Could someone tell me what the IMF stands for?

    Anyway, ok so now we have arrived at the general concensus that these guys do exsist adn they go steal money from other countries. How much do these guys steal on average anyway? Where does the money go and what does the government do with it anyway?

    Just a guess but: Money probably goes into some unmarked account in Switzerland.
  17. Mar 10, 2005 #16
    Officialy they are there to help the poor countrys.

    but in reality what they do is borrow money to the corrupt goverments of poor countrys.. the borrowed money is obiusly stealed by the corrupt politicians... and the bebt is payed by the people... They give such an amount of money so it will be imposible to payback... so then they can start imposing their economic and political reformss, in exchange of more loans...

    what stiglitz says is they first "Recomnend" the goverments to privatize all it's basics services... Water , electricity, oil, comunications banks and health state companies, who obiusly is selled to corporations of the countrys who support the IMF or the so called "Civilized Wordl" or 1st world countrys...
    Of course the corrupt politicians sell the state companies at very very low prices in exchange of some transfers of money in some Swiss bank accounts..

    for example in argentina (My country) Carlos menem goverment (Now exiled in chile for corruption.) in the 90 selled all our state companies....
    Water company to Enron
    Oil to YPF (Spain), Shell (USA), ESSO (exxon movil)
    Comunications (Motorola USA, Telefonica Spain, Telecom Italy)
    Electricity (Edenor, France)
    Banks, (Citi, Boston, BBVA, etc.)

    Now all this companys are making profit out of the esential needs of all the people of the country,. so they need to take the money back to their countries.....

    So now what the imf start to impose is the Capital Market Liberalization..In theory, capital market deregulation allows investment but of course... all the investments came from loans from the private banks, to this corporations, and the real money goes out of the country..

    then the imf start to impose state spending reduction.... and rise of taxes.. for the only objective of destroy the country and push the people below the poverty line.

    Actualy what the imf is imposing here in argentina is a rise in the electrical, water and comunications bills...with 50% of people under the poverty line. you can imagine what that would mean.. more people prived of the basics services....

    I live in argentina and all that start to happen since the us backed military dictatorship of the 70' who cost us 30.000 death and disapeared people....

    Now all the ex militaries of the coup are working in the police.. securirty and inteligence services of the goverment... but of course.. under a "democraticaly elected" goverment, controled by the imf...

    Sorry my english..
  18. Mar 10, 2005 #17
    Your english is better than some of the people who live in my area.

    Anyway, can you say "insanely corrupt"?
    Thats a lot of money to be taking from the people just to make a profit.

    I've said it before, I'll say it again: Money makes the world go round.
  19. Mar 16, 2005 #18
    Luckily for Malaysia Mahathir rejected the IMF. Mahathir got balls .One victory for the small dude.
  20. Mar 16, 2005 #19
    IMF stands for the the International Monetary Fund (IMF) and is the international organization responsible for managing the global financial system and for providing loans to its member states to help alleviate balance of payments problems. Part of its mission is to provide assistance to countries that experience serious economic difficulties.

    However it is widely acknowledged that the IMF has failed to help because its policies are unsuitable and in fact has caused even more poverty .
  21. Mar 16, 2005 #20
    It fits all the characteristics of being corrupt. If the policies are unsuitable and they don't do anything but increase the percentage of poor people in a country, then why is it no one is rewriting the policies so they can work for the people instead of against the people? Heaven forbid they don't get something out of it for themselves.
Share this great discussion with others via Reddit, Google+, Twitter, or Facebook