e-Con e-News

US Aragala Awards for Their ThinkTanks


The USA is giving itself awards for its aragalaya….

blog: eesrilanka.wordpress.com

Before you study the economics, study the economists!

e-Con e-News 09-15 October 2022

In the midst of the annual US World Bank & IMF financial frolic in Washington…

With all their suited & tied mannequins-of-color in attendance…

The Governor of the Central Bank declares out loud:

Sri Lanka will not take part in alternate international payment systems:

Central Bank declines to accept Russian Mir Payment System

…Central Bank Governor Nandalal Weerasinghe

has declined to approve it on 2 occasions.

(seeee Sovereignty, Mir)

The first story makes it appear this is a sole decision by a vertical vertebrate. It takes another whole day, before the gelatinous chain-of-command is clarified:

Due to the US sanctions on the MIR payment system,

as confirmed by the Ministry of Foreign Affairs – Sri Lanka,

the Central Bank of Sri Lanka is not in a position

to consider favorably, at the current juncture,

the request to operate MIR card scheme

within the banking system,’ the CBSL said in tweet.

It is tweet, tweet, indeed. Or is it chirp? Or squawk? If we believe the English media, the IMF & World Bank are all earnestness & lament for the ‘global economy’. Much like the real assassins attending a Mafia funeral, they are the first to rise to eulogize the corpse. The news keep up its squawking stenography: ‘The IMF expects’to conclude an agreement with Sri Lanka. They then keep insisting they need further proof that the imported medicines prescribed, will be forced down throats. The IMF guarantees for the 17th time, these panaceas will revive the unliving!

     Meanwhile the CB raising interest rates, will profit the moneylenders, and further discourage investment in modern industry. The holy spirit, the GDP, will duly rise, even as it merely indicates growth in bank services, etc.

     The Central Bank, right from its inception in 1950 under a US governor, has opposed the independence, let alone the industrialization, of the country, recalled SBD de Silva. One of the features of the 1948 Soulbury Constitutions was its attempt to stifle our international relations. This continues to this very day (see ee 10 August 2019 – Central Bank Special).

• Midst Washington’s autumnal tasmasha, in this month of Hollywood Halloween horror movies and multi-$trillion US war budgets, the English media repeated this week: US-funded thinktank ‘Advocata Institute in Sri Lanka has won the 2022 Asia Liberty Award securing a prize of a $10,000 for research work’.

     The joke is: Advocata is giving itself an award! Advocata, Atlas, etc, are all US government fronts. Actually, it amounts to the US embassy giving itself an award for its ‘research’ to destabilize another country. Contra-gratulations indeed!

     ‘Every year, Atlas Network’s Templeton Freedom Award Prize Program, generously sponsored by the Templeton Religion Trust, honors and rewards thinktanks around the world through 6 Regional Liberty Awards.’ The Templeton Freedom Awards are handed out by the Atlas Economic Research Foundation, which is also funded by the tobacco industry (Philip Morris, CTC-BAT, etc).

     The 2019 Asia Liberty Forum in Sri Lanka was co-hosted by the Advocata Institute & Atlas Network. Speakers included Verite Research Executive Director Nishan de Mel, etc. Talk about nepotism! (ee 31 August 2019)

     Advocata Institute is part of this Atlas Network, founded by the infamous Mont Pelerin Society (MPS) – all capitalist thinktanks promoting ‘free market reforms’:

MPS is a powerful global policy-planning network

of over 500 thinktanks & numerous business schools,

corporate-backed foundations, media, & university economics departments

transformed into ideological centres of neoliberal strategy:

Atlas Economic Research Foundation, American Enterprise Institute,

Heritage Foundation, Cato Institute, Institute of Economic Affairs, Centre for Policy Studies…

(see ee 2 February 2019)

     This ee focuses on this Templeton prize business, a major funder and ‘wrangler’ of fake ‘spiritual’ controversies. We also look again at the role of Mark Mobius, the Templeton-linked investor. Mobius was the Keells’ conglomerate’s Chief Guest in 2019. Along with the US-funded thinktanks like Advocata, Verite, etc, and US-funded media, like monopoly Wijeya Group’s Sunday Times, Financial Times, Daily Mirror, etc, Mobius et al are playing a key role in hijacking Sri Lanka’s economy (re: Mobius, see Random Notes).

     Templeton also funds the US Cato Institute. Advocata founder Razeen Salley, a Cato Adjunct Scholar and MPS member, was made chairman of the Dutch-funded Sri Lanka Institute for Policy Studies (IPS).


What’s the difference between US debt & the debts that our countries owe?

US debt doesn’t keep the USA from being one of the leading powers of the world

but our countries can’t make it because of the debts we owe?


The USA is never going to pay its debts;

It doesn’t have to pay its debts.

It can simply print dollars.

Africa has to earn US Dollars;

The only way it can earn US Dollars

is not to be assassinated for growing its own food

and becoming independent, and doing something the USA doesn’t like.

The principle underlying the foundation of the IMF & World Bank (IBRD)

is, no country should grow its own food.

Africa & 3rd world countries should only grow export crops.

In order to have an over-supply of cocoa & other tropical raw materials

to keep down the prices. They must buy their grain from the US or Europe

so, if they do something we do not like, we can do what the USA tried

to do with China in the 1960s. We can sanction them.

We are going to starve you. We are not going to export grain to you.

Owing their foreign debt in dollars means

they have to somehow sell something the US wants.

Not what they want.

The most evil organizations in the world

are the World Bank & IMF.’

(Michael Hudson, ee Economists, Empire & Economics)

The US makes countries owe debt in dollars. This is also why the US then demands control over the Central Bank, saying it must be ‘independent’. This is why they always demand devaluation. There’s a world price for grain, aluminium, for raw materials. So they can only devalue the price of their workers in each country. So when anyone is told to devalue, what are they devaluing? They have to pay workers less. Squeeze out more from the bottom to suck it up to the top 1%. Devaluation is an anti-worker policy. To prevent a domestic market & prosperity from developing. 

     Russia & China want no part of this dollar area, of this IMF business. They say: ‘We want our own currency. We will borrow in our own currency.’

     As for us: so-called IMF Restructuring (aka Structural Adjustment) means we won’t pay them anything for maybe 4 years, after another election. When we do pay, we’ll pay over 50% more than what we would otherwise have.

Oil makes & breaks nations

(ee Industry, Global finance vs global energy)

• An ‘aragalaya’ against the World Bank & IMF annual get-together in Washington, was publicized by the capitalist media. Numbers of demonstrators were not given. The published demands ignored the USA’s imperialist role, especially deindustrialization. They instead opposed ‘investment’ in fossil fuel and supported ‘a transition’ to ‘clean energy’. They also called for a cancellation of ‘all debt’, as promoted by US rock & roll star Bono. This much-promoted Bono ‘Jubilee’ campaign to cancel bilateral debt, actually only helps private lenders to get first preference in debt repayment.

     The media quoted such US NGOs as environmental Extinction Rebellion & feminist CodePink. Ironically, these NGOs were also active in Sri Lanka during the aragalaya, with its demands for submitting to the IMF. In Washington they sing another song. These are dollar-funded astro-turf groups, parade as grassroots. Their calls to cancel all debt, appears ‘radical’. Yet there are no calls for political non-interference in our countries. No calls to demand a modern industrial strategy to strengthen people and the economy. Instead, these NGOs operate to play movements against each other.

Bono’s so-called Jubilee Movement is appalling.

They want to wipe out third world debts to governments.

The banks are backing him. The bankers love Bono.

There is a ranking for every country when they pay foreign debts.

The ranking says they must pay governments first, and private sector second.

Bono’s Jubilee says, don’t pay governments.

This means third world countries do not pay their debt to their governments,

They have to only pay corporations & banks.

Pay Chase Manhattan & Citibank, etc, and bondholders.

This is a cover-up…

(ee Economists, Empire & Economics)

Default Suicide or Homicide: It is now an open secret (the media will not re-tweet or re-squawk) that the Sri Lankan government either, on its own accord, pushed itself, or was pushed by the USA, to default. China is now on record as saying they tried to help, and warned the government not to default. Central Bank officials, ‘independent’ of the government, however refused and chose to default.

     Inflation was blamed on local money printing, even though it’s the US, with its fictional dollarizing and murderous sanctions that is mainly pumping inflation. An import-export plantation oligarchy’s links with Anglomania are deeper than common sense (ee Economists, Truth)

     The government is now not allowed to fully trade with Iran, China or Russia. The government refuses to really restrict imports even as the capitalist media keeps up a steady harangue against actually non-existent controls (ee Focus, COPA’s Vitarana out).

     This week saw financial analysts, IT professionals, sports equipment importers, all demanding dollars, and opposing restrictions on imports, which they claim are indispensable to their exports! Some like to insult beggars & welfare, yet there are no bigger beggars & welfare recipients and thieves than Sri Lanka’s capitalists. (The oft-prescribed PPP may well turn out to be what a corrupted SoE is all about). 


A1. Reader Comments

• Hellfire • Chevening’s Minors • Hambantota, Myanmar & China • China Opposed SL Default • Tax Rise Good for Paying BlackRock • SL Most Colonized? • Sage vs Intellectual • World War & Weight Loss • Congo, Haiti & SL

A2. Quotes of the Week

• Alternative to IMF Now • Widespread Default • Wall Street Dictatorship • Transphobia & Transnistria • Unilever Palm Oil Horrors • Haiti’s Big Oil Troubles • Haiti’s Inbred Rulers • Cuba-China Produce Pharma • Caribbean’s China • Sabotaging Electricity • Wages & Prices

A3. Random Notes

• Corporate Prizes Galore • Fakery of Handicraft • Mobius, Templeton & the P Word • First Medical School in Jaffna • Dangers of Kerala Land Reform • Secrets of the IMF Pact • New Old Banking Act • Central Bank Dependence • SL Banks on the Slave Block • Unilever’s Congo Funds • Uranium & Victory • US Nuke Threats in Korea • US Curses Saudis • England’s Iron Act • Putin: Future of Energy in South’s Hands • Fake US Biz Stats

B. ee Focus       

B1. COPA: Tissa Vitarana out, Kabir Hashim in. Why? – Tissa Vitarana

B2. IMF must become more than just a debt collector for private creditors – C Gunawardena

B3. Jesus Saves & So Does Templeton

C. News Index

continued on eesrilanka.wordpress.com

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