Loans to Countries usually benefit US corporations

John Perkins, the author of Confessions of an Economic Hit Man, shared the following in an interview with Amy Goodman:

We go to a country that has resources that our corporations covet, like oil, and we'll arrange a huge loan to that country from an organization like the World Bank or one of its sisters.

But almost all of the money goes to the U.S. corporations, not to the country itself, corporations like Bechtel and Halliburton, General Motors, General Electric, these types of organizations, and they build huge infrastructure projects in that country: power plants, highways, ports, industrial parks, things that serve the very rich and seldom even reach the poor.

In fact, the poor suffer, because the loans have to be repaid, and they're huge loans, and the repayment of them means that the poor won't get education, health, and other social services, and the country is left holding a huge debt, by intention.

We go back, we economic hit men, to this country and say, “Look, you owe us a lot of money. You can't repay your debts, so give us a pound of flesh. Sell our oil companies your oil real cheap or vote with us at the next U.N. vote or send troops in support of ours to some place in the world such as Iraq.” And in that way, we've managed to build a world empire with very few people actually knowing that we've done this.

The N.S.A., the C.I.A., these types of organizations often recruit economic hit men … and then turn us over to a private corporation, so that you really can't make the connection, so that if I were caught at what I was doing in one of these countries, it would not reflect on our government; it would only reflect on the corporation that I worked for.