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finance imperialism

They include: This is where the imperial economy simply takes the natural resources from the land and sends them back to its economy. There were few direct costs of administration.

And they do this not just with sovereign bonds, but with stocks, futures options, commodities, and other financial securities. Change ). But some forms of Imperialism and colonial arrangements are more ‘profitable’ than others. These included the International Monetary Fund, established to address local management of currency and export-import flows when they became unbalanced; the World Bank, which provided funding for infrastructure project development; and the World Trade Organization and free trade agreements—bilateral or regional—which enabled selective access to US markets in exchange for unrestricted US corporate foreign direct investment into dominated state economies, financed by US financial interests. Its banks and currency became the institutions of the colony. The IMF, however, as an appendage of the US global empire, has refused to lend Venezuela anything to help stabilize its currency.

During the pre-2008 boom cycle years, credit flowed to Greece and the periphery to enable the purchase of core exports of goods. China and Russia are leading this way, while experimenting with non-currency dependent trade. It prevents the efficient entrepreneur from expanding his efforts to supply the consumers in a better and cheaper way, and it shelters the less efficient against the competition of more efficient newcomers. The belief that tax harmonization is sound public policy has its genesis in the mistaken belief that government spending is good and private spending is bad. Norfield’s book explains in detail how London was able to maintain its role as the center of world finance, despite Washington’s rise to global dominance.

Only when their populace rebelled did the US provide military assistance, covertly or overtly, either from afar or from within as the US set up hundreds of military bases globally throughout its sphere of economic interests. US sanctions on other countries, banks, and companies offshore are designed not only to prevent Venezuela access to dollars and money capital offshore.

The Declaration of Independence had it exactly right: “He [King George III] has erected a multitude of New Offices, and sent hither swarms of Officers to harass our people, and eat out their substance.”.

It is associated with traditional enterprise-to-enterprise, private sector economic relations where interest is charged on credit extended for production or trade. For Eurozone bankers, it was just too good a ‘deal’ to terminate: perpetual debt interest money flows back to them, guaranteed by credit extended by the Troika institutions. Exports might decline with economic conditions and competition.

Even more indirect case, but nonetheless still involving State-State relations indirectly, is private investor speculation in private financial asset markets like stocks, futures and options on commodities, derivatives based on sovereign bonds, and so on, associated with the dominated State. Printing more Bolivars adds to the supply of Bolivars in the economy which raises domestic price inflation even further. “Need” is defined as getting your hands on other people’s money, and greed has come to mean the natural desire to protect your own property and assets from sequestration by governments.

It generally refers to one State, or pre-State set of political institutions and society, conquering and subjugating another.

It has been forced to resort to paying its interest and principal on past loans from these governments with shipments of oil instead of payments in dollars. The greatest enemy of the modern State is not the terrorist, criminal, hoodlum, or even the foreign aggressor; it is the citizen who simply wants to keep his own income or to protect his own wealth.

Study this one-year world-class programme at Imperial College London to prepare for a successful career in sectors such as investment banking, asset management and consultancy.

Finance capitalists ‘capitalize’ on the debt crises that create price volatility of financial securities, making speculative bets on the financial securities’ volatility (and in the process contributing to that volatility) in order to reap a financial gain from changes in financial asset prices.

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