Former M.P. Pierre Dupuch comments on "Confessions of an Economic Hit Man."
By Pierre V. L. Dupuch - Former M.P
Sep 30, 2017 - 9:20:56 AM
Sometime ago I read a rather intriguing book entitled, "The Confessions Of An Economic Hit Man."
Not only was it intriguing, it was frightening. It was written by a man who had been called in by the American Government to form a group whose sole purpose, it appeared, would be to bankrupt countries making them "economic colonies" of the United States.
This is unbelievable, but here's basically what the author explained. They would go to a country, big or small, find a "big-eyed John/Jane" who wanted to look good with his/her constituents and needed money to do so. They would find, for example, that the Government needed money to build a two-lane highway but had none.
They would move in and convince them that instead of a two-lane highway, they should get a four-lane one. "Not to worry," they'd say. "We will lend you the money." Being a big-eyed John/Jane, wanting to impress the constituents, and, of course, getting a little under the table for themselves, they would jump at the offer.
They would then go to another country that wanted and needed a new hospital. The Government had been advised by the doctors that a small, efficient structure that they could afford would be best. Now the "hit men" would hear about it and go to the other big-eyed John/Jane and say, "look man, you should build a big spacious hospital, with a beautiful entrance and when it's lights turn on at night your constituents would say, man that's beautiful, our Government is really great."
Again they'd say, "not to worry, we'll lend you the money." And once again, the big-eyed John/Jane, knowing that their constituents were gullible and there would probably be a little bit in it for themselves, or their friends, jumped at it.
And now the hit men go to another country that wants a new airport built in a distant area of their country but they need the money. The original plan was modest but would do the job efficiently and economically. The hit men would say, "no man, make it big and beautiful, your constituents would love it." Finally the airport is built, big, beautiful, not efficient and twice the cost that it's worth. But it's big and beautiful. The constituents love it.
Another country wants and needs a new electrical plant and the hit men are there. Now they feel that they only have to pay off three people to get the contract. The new plant is built. The equipment is not the best and is not the cheapest but it runs and they have achieved their end.
This becomes a never-ending story. Each country has been hoodwinked and now finds itself in the position where they have to borrow money to pay the loan. The hit men have achieved their objective. They own you. You're now an economic colony.
They now call the shots. They no longer advise you to charge income tax, they tell you. They no longer suggest anything. They tell you what they want.
Does it sound like the hit men may have visited the Bahamas? After all, the PLP's biggest argument for independence was that by being independent we could borrow money?
I am told that in 1967 when the PLP took over, the UBP had left TEN-MILLION dollars in the Treasury. Today, the Treasury, it is said, owes something like SIX-BILLION dollars.
It's like the old saying: If you owe the bank money, don't get caught fooling with the bank manager's wife.
Yes my friends, we're now economic slaves. The boss man says jump and all we say is, "Yes sir boss, how high on the way up!!"
We have been taken. Are we now owned by the American and Chinese Governments??
I hope that the Prime Minister, Dr. Hubert Minnis, knows this and can free us.
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