e-Con e-News

1962 to 2022: From Coup to Coup


Grandson of 1962 Coup Leader wins in court….

blog: eesrilanka.wordpress.com

Before you study the economics, study the economists!

e-Con e-News 10-16 July 2022

A coup is in the making. Perchance, it’s the same old coup. To snatch any remaining sovereign power from the people. Especially economic independence. To postpone full independence yet again, by soaking it in more of that sticky stuff that normally flows through our veins.

     Calling up the ghouls of that past, we find their glowing fingerprints in this episode too, of yet another relative of the failed 1962 coup d’etat – this time of its leader, Colonel FC de Saram – making the news again, exactly 60 years later. ‘Coup’ de Saram’s grandson Julian Bolling, an open and long-term recipient of USAID dollars, demanded and made the Supreme Court this week take away the passport of a former governor of the Central Bank, to apparently ‘reinforce people’s power’ (see ee Random Notes).

     Deadly words. Ghouls they not only walk and talk, they litigate. They wish the head of a (possibly the only) governor who dared speak to the need for a real development bank, not just one in name.

     Meanwhile, an important-sounding body, the Central Bank Executive Officers Union – as if to preclude the tortures of a dollar-wielding Guantanamo Torquemada – has made a pre-confession, and called for ‘the continuation of engagement with IMF and fiscal reforms’. They too, ‘support the Aragalaya.’

     The Central Bank – with the highest number of PhDs per square foot under one roof in Sri Lanka – has always opposed the independence of the country, reminded SBD de Silva, once director of research at the Central Bank.

     Central Bankers are falling out of the skies. Just as Sri Lanka’s President was about to be sent, or was on his way, to Singapore, the US CNN Bureau in the Philippines interviewed fugitive ex-CB-governor Arjuna Mahendran. Old Royalist Mahendran – it has been presumed – is hiding out in Singapore, that regional southeast Asian hothouse of ‘good governance and rule of law’. CNN was asking for his take on the latest roll of the dice (ee Economists, Wanted).

     New York’s Bloomberg, meanwhile, laments a supposed political vacuum, and quotes a London-based portfolio manager, hinting at that perennial yearning to make the Central Bank independent of the legislature: ‘The role of the central bank governor now is key…’’ (ee Economists, Bailout)

     The present Central Bank governor, Nandalal Weerasinghe, who is yet to explain his role in the 2015 bondscam, promises: ‘Talks with the IMF are continuing virtually and most of their expectations are being met’.

     Yet the story’s headline says it all: ‘The IMF…hopes…to…resume…discussions.’ The statement is awash with aasai-bayai modifiers of tentativeness! Malaysia’s Strait Times then reports, the IMF says talks with Sri Lanka have been ‘interrupted’ by the unrest. The IMF is fanning the flames…

     Meanwhile, regional Borah merchant Murataza Jafferjee has submitted the National Movement for Social Justice economic program. Jafferjee is chairman of US-thinktank Advocata and actor-President & Finance Minister Ranil Wickremasinghe’s ‘Economic Stabilization Dialogue’ between the Ministry of Finance and the ‘independent economists’.

A token drop in petrol prices, and joy in the stock market after the President’s resignation: There’s nothing like the casino called the Colombo Stock Market being called upon to speak its truths in dollars, and gage shifts in their messaging: The week began with Wijeya group Financial Times headline, Aragalaya boost for Colombo stock market. Then US-organ EconomyNext reported: Sri Lanka stocks jump to 3-week high on political stability hope after PM takes charge. The Island also reported: Share market turns positive in the wake of GR’s resignation; turnover hits Rs1billion. Then with the call for ‘law and order’, EconomyNext: ‘Sri Lanka shares down after violent clashes amid political unrest…’ ee here records the shift from months of relentlessly provoking people to now demanding the army to put their genie back into the bottle.

• Another US military exercise ongoing on the seas around Sri Lanka, since April at least, suggests an ongoing US blockade to prevent fuel assistance from Russia, or Iran, enforcing the collapse of the economy and removal of the President. The Sea Vision training is conducted by the Office of the Defence Cooperation (ODC) of the US Embassy in Sri Lanka, as the US attempts to take full control of Sri Lanka’s oceans and airspace.

     On June 20, a top Australian delegation held talks at the Defence Headquarters Complex, at Pelawatte. Australia is a member of the ‘Quad’ alliance, comprising the US, Japan and India, that claims it is challenging China’s presence in the Asia-Pacific region. The Australian delegation led by new ‘Minister for Home Affairs & Cyber Security, Clare O’Neil MP, included Australian Border Force Commissioner Michael Outram APM, Commander of Joint Agency Taskforce. Rear Admiral Justin Jones, Commander….’

     The meeting took place against a backdrop of people supposedly heading down under on boats (just like the current Australian’s white-settler ancestors did, tho with less consequences for the original Australian people).

     Jones was involved in the shady revelation timed to outragify Australian voters heading to the polls, that a vessel had ‘been intercepted in a likely attempt to illegally enter Australia from Sri Lanka.’ Sri Lanka’s Communist Party MP Weerasumana Weerasinghe notes, racketeers pass information to authorities after collecting money from would-be asylum seekers. The lost-Welsh Rear Admiral Jones should tell us upfront.

• The news about the President taking his leave was first announced on the English Queen’s lipstick, BBC. Local channels dutifully parroted. The BBC reported:

Sri Lankans blame President Rajapaksa’s administration

for their worst economic crisis in decades.

For months they have been struggling with daily power cuts

and shortages of basics like fuel, food and medicines.

The authoritarian leader, who enjoys immunity from prosecution

while he is president, is believed to have wanted to flee abroad

before stepping down to avoid the possibility of arrest by the new administration.

• The New York Times has done it again. They have also given us, one more time, in less than an iota of salt, their gospel of the day on Sri Lanka. Their day. A gospel they wish to make ours as well:

‘They promised ‘vistas of prosperity and splendor.’

Instead, they delivered soaring inflation, severe food and fuel shortages,

power blackouts and a country on the precipice of collapse.

The calamity unfolding in Sri Lanka has many causes:

debilitating debt, China’s geopolitical ambitions,

the pandemic, the turmoil in global food and fuel markets

caused by Russia’s invasion of Ukraine –

and underlying it all are the hubris and recklessness of the Rajapaksa dynasty.’

– ‘A Reckless Dynasty Has Brought Calamity to Sri Lanka’

The NYT, aping a doddering nostradamus of doom, dribbles off a drop of inked spit, sparing us albeit in fractured crystalline, the current imperialist view of Sri Lanka and the world. A Fake Pearl for the pearl:

Rajapakses = Corruption = Chinese = Debt = Trap

This, a meme their propaganda orchestras trumpet, chime and bellow around the world, is corruption personified itself, it is almost like an Unilever FMCG – a fast-moving consumer good. Anyone wishing a green card or dollar stipend should memorize this rosary chant. It has use and exchange value.

     The NYTimes represents the imperialist ruling class in the US. They are mounting a powerful proxy war against China. They are financing and arming terrorist movements as far as we can see, as we look around us in our part of the world. They aim to widen every hairline fissure, use any trick in the good book, and throw as much mud as they can to fog the soup. In the east in Myanmar, Thailand, and beyond, especially in the stormy seas from Diego Garcia, through to the Pacific, north and south. To our north and west, from Kashmir and their forever and covert wars in Afghanistan through Iran, Iraq and Syria, to the Horn and Libya.

     This ee reproduces the testimony of the US official who organized the coup against Iran’s first elected President Mohammed Mossadegh in 1953. Mossadegh wished to nationalize the oil industry monopolized by the English and US. Again, the excuse given for creating chaos, and then kidnapping and torturing a national leader, was a purported link with the USSR/Russia. Mossadegh is one of the first of a series of leaders the US undermined in the 1950s and onwards as they sought to take over and bolster the role of English imperialism in Asia. The Iranian tragedy was engineered 6 years before the assassination of the country’s first nationalist PM SWRD Bandaranaike, and 9 years before the attempted coup d’état against Sirimavo Bandaranaike, the world’s first female head of government.

No woke objections then!

• How coincidental is the timing of the resumption of parliament to choose a new President on July 20, and the US government sentencing of a former Sri Lankan ambassador on that very day? MPs who do not vote for the empire’s candidate have been threatened with death (as hinted at the May 9 dress rehearsal) as well as promises to expose their ‘corruption’. The Island has already disclosed that the ghouls – sparrow units – of 1988-89 are already on the loose (see ee Politics, Death-dealing 1980s sparrow units)

     On Thursday, the Wijeya Group’s Daily Mirror highlighted confidential correspondence between the US and SL governments: The Daily Mirror is ‘in possession of copies of all corresponding documents exchanged between the Foreign Ministry and the State Department US from 2017 -21’.

     The US-funded Yahapalana government waived off Rajapakse cousin Jaliya Wickramasuriya’s immunity in 2017 at the request of the US State Department (Random Notes).


A1. Reader Comments

• Nuland paid off protestors • Dedollarize now • Ally with China or go down with Titanic

A2. Quotes of the Week

• US$801mn worth of English pleasure vehicles imported • Paradise Stopover for NGO Busybodies • Yahapalana & ISBs • Mossad’s monkeys • India’s troops on way • IMF Takes Over Economic Policy: Mahathir • Dhammika & the Oligarchs • Unsubstantiated Corruption • Colour of the SL revolution • Soviet Origins of Indian Oil • Germany always sells more than it buys • BASL & Plunder

A3. Random Notes

• USAID’s wildlife, Coups & Lakshman’s passport • The Raging Orphans of 1948 and 1977 • NATO’s Troops of Color • India’s wrong side of history • Julie’s July Revolution • Sri Lanka’s Name Change • The UNP’s Change of Mind on Industrialization • US Courts & Sri Lanka’s July 20 Date with Destiny • Economics Professors, Fuel & Fools

B. ee Focus    

B1. Countercoup: The Struggle for the Control of Iran – Kermit Roosevelt

C. News Index

Continued on: https://eesrilanka.wordpress.com/2022/07/16/1962-to-2022-from-coup-to-coup/

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