The New Confessions of an Economic Hit Man | John Perkins

Summary of: The New Confessions of an Economic Hit Man
By: John Perkins


Dive into the intriguing world of ‘The New Confessions of an Economic Hit Man’ by John Perkins as our summary unravels the secret tactics of Economic Hit Men (EHMs) who use debt as leverage to promote US interests around the globe. Discover how EHMs, working behind the scenes for private corporations, manipulate world leaders by doctoring financial reports and utilizing bribes, extortion, and even coups to secure loyalty and benefit large US interests. We take a comprehensive look at Perkins’ own eye-opening journey into the realm of EHMs, exploring the complex web of corporate power and influence through real-life examples such as Ecuador and the FIFA corruption scandal.

Debt as a Tool of Power

The US government’s answer to advancing its interests without violence is a covert group known as Economic Hit Men (EHMs). EHMs rely on payoffs, extortion, and misleading financial reports to force countries to accept loans from international organizations like the World Bank. Once indebted, the US can influence policy decisions and benefit its corporations and investors. If leaders refuse to cooperate, EHMs instigate coups and rigged elections. To distance itself from the nefarious activities of EHMs, the US government funnels money to private sector companies to manage their teams discreetly.

Confessions of an Economic Hit Man

John Perkins, a young Business Administration student in 1968, joined the Peace Corps and was later employed by Chas T. Main Inc. as an economic forecaster. While working as an Economic Hit Man (EHM), he wrote reports aimed at convincing developing countries to accept large loans that would leave them in debt and vulnerable to US influence. The loans were tied to hiring American contractors such as MAIN, with the terms guaranteeing the company’s prosperity. Perkins witnessed coups, assassinations, money laundering, and corruption resulting from his activities and eventually left MAIN in 1980.

Correa’s Journey to National Control

Rafael Correa, the new president of Ecuador in 2006, sought to take control of Ecuador’s natural resources. However, his administration inherited massive debts that forced him to make difficult concessions. Correa refused to sell all of the oil under the Amazon rainforest to oil companies as suggested by the International Monetary Fund. The EHMs attempted to assassinate him when he tried to renegotiate Ecuador’s oil contracts. As a result, in the following years, Correa’s policy decisions were not as revolutionary as his campaign had led voters to expect. He began auctioning off Ecuador’s rainforests to placate EHMs and pay off the country’s debts. Indigenous communities protested, and the demonstration sparked enough media attention that no US companies showed up to bid on the land.

The FIFA Scandal Obscured A Bigger Banking Conspiracy

Corporatocracy, a network linking corporations, banks, and governments enabled the work of Economic Hit Men. A scandal that brought it to the limelight was the FIFA corruption scandal of 2015. While this was just a distraction, five of the world’s largest banks had formed an alliance called “The Cartel” whose goal was market manipulation through Forex. The Cartel’s scheme was allowed to continue for so long mostly because banks are part of corporatocracy, which has the power to influence institutions like the Justice Department. In summary, while FIFA’s scandal got more air time, the Cartel members walked free, unscathed by the law.

The Power of Corporate EHMs

The Forex scandal is just a small part of the large-scale manipulation executed by Corporate Economic Hit Men (EHMs) to achieve their, and their clients’, objectives. Inequality continues to soar as EHMs work for large companies and banks, and the so-called “site consultants” are leveraged to pressure communities to grant large tax breaks and subsidies. Notable names such as Walmart, Boeing, Goldman Sachs, and Monsanto, have used EHMs to avoid taxes, receive government subsidies, and manipulate legislation to their advantage. The owners of these corporations have become exceedingly wealthy while saddling communities with unsustainable and exploitative business practices.

Want to read the full book summary?

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.
You need to agree with the terms to proceed