Here's a sample of how The White Supremacist System via the IMF and Transnational Corporations affect our Planet.
by John McMurtry:
The restructuring of societies by the transnational market program operates in two themal ways-first, by "free trade" and its prescriptions of "open borders and comparative advantage" and, secondly, by "structural adjustment programs" which re-engineer societies to pay unmanageable interest charges on past debt to foreign financial institutions. These instruments combine over time to vastly enrich transnational banks and corporations, and to reduce host societies to ruin.
An illustration of this process is the case of Peru. (Here and throughout this analysis, I depend on documentation provided by Michel Chossudovsky's superb study, The Globalisation of Poverty).(1)
In a series of Structural Adjustment Programs from 1975 on, Peru's average wages were more than halved by devaluation, food consumption was reduced by an estimated 25 percent, bread and bean prices escalated by over 1000 percent, wages in the public sector were slashed by two-thirds, infant mortality and population malnourishment rose to new levels, and the life of the vast majority were in effect, attacked more virulently than by an occupying army. In the words of the day, there were "necessary shock treatments" to ensure than Peru and other societies paid enough and on time to transnational financial institutions.
Understandably, human life resists. In the case of Peru, armed movements of the poor arose. This resistance was thunderously denounced as "terrorist," and a prolonged "dirty war" was waged against all suspected insurgents. This dirty war was consummated by the Fujimori government in 1997 with a long-awaited massacre, an event which was duly heralded in the mass media as a heroic success, while screening out all of its causes. These included the sentencing of hundreds of people by hooded judges to prison without legal process prior to the occupation of the Japanese Embassy on December 17, 1996.(2) The media preferred to attend to the prolonged high-tech military operation to kill the mostly teenaged and mixed-gender occupiers with their hands up.
The epistemic problem of the global market is that the dominant economic paradigm of understanding cannot recognize the fatal inner logic at work here. As it leads a process of unraveling life fabrics in accordance with its "bottom line" of money gains, it drives the wheels of increasingly catastrophic effects. These effects are never connected back to their cause, but are attributed to "human nature," "terrorism," "ethnic hatreds," or whatever else sells news while obscuring the reality of people's lives.
Another current flight from reality in the global market community's saturated fervour for "free capital flows" is the case of Rwanda. Before 1990, Rwanda's food production was protected by public subsidies to the 70 percent of the rural population who grew it, and by restrictions of foreign imports. But when coffee prices predictably plummeted due to overloading of tropical markets with "comparative advantage" exports, Rwanda's export earnings dropped by 50 percent. A structural adjustment to sustain the succubus of real-interest monies flowing to foreign financial institutions was therefore imposed. The International Monetary Fund prescribed a 50 percent devaluation of the currency, six weeks after a Tutsi-led rebel army from Uganda entered the country. The collapse of real earnings triggered steep price increases in basic foodstuffs and fuel, public services collapsed from lack of revenues, malaria and child malnutrition rapidly spread, famine struck the south of the country, and farming families desperately chopped down 300,000 coffee trees to return to the non-export farming by which they had traditionally lived.
A second devaluation was then ordered by the IMF, at the height of civil war in 1992. Privatizations of gas and telecommunications followed, and public investment projects were halved in such life-serving projects as inland swamp reclamation to meet the country's increasingly severe shortage of arable land. The money disbursed to the government from the new loans on the basis of devaluation and "cost savings" was then diverted to purchase Milan and Apila missiles and a Falcon jet from France along with other killing commodities, and to increase the army by eight-fold with mostly unemployed youths.(3) It was then that the massacre of hundreds of thousands of people began.
Again, all was reported in the corporate media with no connection back to the IMF prescriptions which had step by step engendered the social pathology.
We may conclude here with an autopsy of these principles which propel the world-wide reduction of societies to various forms of ruin. They are the pathogenic sequence of "structural adjustment programs" prescribed by the IMF, which in turn is the collective agent of the world's transnational financial institutions. Underneath all the claims and counter claims, justifications and accusations about IMF and its Bretton-Woods sister, the World Bank, a set of underlying principles regulate these life-attacking operations across the globe. They are the deep pathogenic code of the current world crisis.
(1) National and government debts are not to be repaid, but the compound interest payments are to be ensured in orderly increase;
(2) Devaluation of currencies is the counterbalance to these parasitic appropriations, offsetting their inflationary effect by decreasing the real value of wages and salaries;
(3) Food or other commodities for export are demanded to ensure that hard currency is continuously paid to international debt holders;
(4) Local investment by government or the maintenance of self-employed co-operatives to provide means of life for domestic populations are selected against at every turn to ensure dependency on imported commodities as well as exports of foodstuffs for more foreign currency to pay debt charges;
(5) No unpriced good of food, shelter, public education, healthcare assistance, or any other basic life need is to be left in the public sphere so that market mechanisms of price and profit replace them;
(6) Voluntary schools and clinics-called "safety nets"-are to stand in for public funding of healthcare and education, while returning high fees to financial advisers for dismantling social sectors;
(7) The public resources of the environment and other economic sectors are to be opened up to foreign access, exploitation and ownership so as to ensure hard currency for interest payments, reduction of cost inputs, and replacement of local economies by transnational control;
(8) All of the above must be agreed to as a condition of any further loans or investment into the region.
These are the underlying principles which regulate structural adjustment programs across the world. If there is resistance to any prescription of the overall global market program, as with Mayans of Chiapas who resisted the "death sentence of NAFTA," the financial community demands eliminative order to "restore stability." The following words are from a press release by the Chase Manhattan Bank, a Rockefeller corporation which knows the connections between the money sequences of oil, weapons and compound interest. Death is promised for those [who] fight back:
"While Chiapas, in our opinion, does not pose a fundamental threat to Mexican political stability, it is perceived to do so by many in the investment community. The government will need to eliminate the Zapatistas."(4)
In the end, the emergent global market crisis poses a social choice:
Either civil society defends its life against this pathological program, or nations and provinces across the world will continue to be stripped by transnational banks and corporations.