What Is an Economic Hit Man? Perkins Reveals

Have you ever wondered about the hidden forces shaping global economics? What if there were professionals whose job was to manipulate entire countries for financial gain?

In his book Confessions of an Economic Hit Man, John Perkins reveals the shocking truth behind these questions. He exposes the secretive world of economic hit men (EHMs) and their tactics for exploiting developing nations. You'll learn what an economic hit man is and how they operate to further American corporate and government interests.

Keep reading to discover the eye-opening revelations from Perkins' firsthand experience as an EHM and understand the far-reaching consequences of their actions.

What is an Economic Hit Man?

What is an economic hit man? According to John Perkins in his book Confessions of an Economic Hit Man, an EHM is a professional who uses various tactics to manipulate countries into accepting large loans for infrastructure projects, ultimately leading to economic dependence and political influence. Perkins reveals the inner workings of this secretive world and how EHMs operate to further American corporate and government interests.

The Evolution of EHM Tactics

The concept of Economic Hit Men emerged in the 1950s, following the success of CIA agent Kermit Roosevelt's covert operations in Iran. As the Cold War progressed, the strategy for global dominance shifted from military force to creating financial obligations. EHMs became more sophisticated, adapting their methods to the changing geopolitical landscape.

After the Cold War, EHM techniques became deeply ingrained in global commerce. Corporate entities gained significant influence through economic measures like NAFTA, which prioritized U.S. company interests. The once-clandestine activities of EHMs are now often conducted openly and considered normal business practices.

Core Strategies of Economic Hit Men

EHMs employ several key tactics to exert control over target countries:

Creating Fear and Leveraging Debt

By exploiting a country's financial vulnerabilities and perceived security threats, EHMs create an atmosphere of fear and division. This strategy often involves supporting authoritarian regimes and suppressing social progress through military aid and economic pressure.

Debt Accumulation

EHMs design development programs that lead to substantial increases in national debt. These initiatives, backed by significant loans, aim to boost American corporate profits while trapping nations in a cycle of indebtedness. Countries struggling with repayment may face harsh economic policies, privatization of state-owned enterprises, and forced relinquishment of valuable assets to multinational corporations.

Promoting Resource Scarcity

EHMs manipulate economic data and forecasts to perpetuate the idea that resources are scarce and inadequate. This narrative is used to justify aggressive corporate expansion as the only solution to underdevelopment. While the wealthy benefit from infrastructure projects, the general public is led to believe that wealth can only be accumulated through capitalist practices and debt.

Sowing Discord

The effectiveness of EHM strategies is enhanced by creating conflicts between countries, inciting unrest, and strengthening the influence of prominent regional figures. Operations like Condor in Latin America were instrumental in suppressing dissent, supporting autocratic regimes, and fostering divisions among factions.

Global Impact of Economic Hit Men

EHMs have left their mark on various regions around the world:

Latin America

In countries like Ecuador and Panama, democratically elected leaders who resisted American corporate and government pressures often met untimely ends. The suspicious circumstances surrounding their deaths hinted at possible interference, demonstrating the extensive influence wielded by EHMs in the region.

Middle East

EHMs played a crucial role in events like the removal of Iran's Prime Minister Mossadegh, paving the way for Shah Mohammad Reza Pahlavi's rise to power. In Saudi Arabia, financial transactions were used to ensure the country's alignment with U.S. interests.

Asia

Indonesia became a target for EHMs seeking to harness the country's natural wealth and suppress local opposition. The U.S. supported leaders like President Suharto to maintain dominance over crucial resources, including potential oil reserves.

China's Rising Economic Influence

China has emerged as a significant player in the global economy, adopting its own version of EHM tactics. Unlike the traditional U.S. approach, China emphasizes non-interference and mutual benefits in its economic engagements. The Belt and Road Initiative and increased involvement in regions like Africa and Latin America showcase China's growing influence.

However, China's strategy isn't without controversy. Many nations have experienced economic growth due to Chinese financial support, but this has also resulted in mounting debt and potential dependency. The competition between U.S. and Chinese economic actors has led to escalating disputes and confrontations in overlapping spheres of influence.

John Perkins' Personal Journey

Perkins' story provides a unique insider's perspective on the world of Economic Hit Men. Recruited by a leading consulting firm, he was groomed for the role without fully understanding its implications. As he gained experience, Perkins began to recognize the deceptive nature of his work, including the manipulation of economic forecasts and the exploitation of developing countries.

Over time, Perkins grappled with the moral implications of his actions. He witnessed the detrimental effects of EHM tactics on vulnerable populations and struggled to reconcile the material rewards of his job with his growing ethical concerns. Ultimately, he decided to leave his position and expose the inner workings of the EHM system.

Despite facing threats and attempts to silence him, Perkins remained committed to sharing his knowledge and advocating for change. His goal became transforming the exploitative economic system into one that promotes sustainable growth and lasting prosperity.

By understanding what an Economic Hit Man is and how they operate, you can gain valuable insights into the complex world of international economics and geopolitics. Perkins' revelations shed light on the hidden forces that shape global affairs and challenge us to consider the ethical implications of economic policies and practices.