It's not the oil companies!

[old man emu]

It has become a common theme in political debates to blame oil and the World's oil companies for "peace-keeping interventions" for political instability in many countries. But the oil companies are the Johnny-come-lately's to the commercial manipulation of countries whose economies rely on Primary production. We know from History of the Dutch trading monopoly in the East Indies, and the way that England's East India Company changed the political systems of the Sub-Continent, but the champions of commercial intervention were, and are, the companies which control bananas. 

 

You've heard of the term "banana republic"? “Banana republic” is defined as a derogatory term meaning “a small nation, especially in Central America, dependent on one crop or the influx of foreign capital”. The first of these was born in 1899 when the American corporation United Fruit Company (UFCO), brain child of money-hungry tycoons Minor C. Keith and Andrew W. Preston, came to Guatemala and gave support to its most repressive dictators, Manuel Estrada Cabrera.  By striking deals and helping the dictator, the United Fruit Company gained massive profit and power in its Guatemalan locations; within two years the company had even been hired by Guatemala’s government to manage the country’s national postal service. The UFCO continued riding this wave of corruption and underhanded deals, and under Guatemala’s next dictator had gained control of 42 percent of the land in the country, was tax exempt, and had freedom from all import duties (due in part to the fact that it owned Guatemala’s largest shipping port).  In addition, the corporation now owned the country’s telephone and telegraph system and almost all of the railroad track within its borders.

 

The country was enjoying the new stabilization and happily welcomed Arévalo’s democratically appointed successor Jacobo Arbenz a few years latertive change was long overdue, and the Guatemalan Revolution of 1944 (also known as the October Revolution), demonstrated what some call Guatemala’s “first true election,” with the appointment of Juan José Arévalo. Arbenz was dedicated to the betterment of his country, but made a fatal error – opposing the ever-imposing United Fruit Company.  the UFCO returned to its supporters in the U.S. looking for revenge. This was incredibly easy, as a large number of players in the government had holdings in the company.  Among them was Secretary of State John Foster Dulles, whose New York law firm Sullivan & Cromwell actually represented UFCO.  His brother, Allen Dulles, had served on the UFCO Board of Trustees, and had also just been appointed director of the newly created CIA.  Even the public relations officer of the United Fruit Company had government ties as the husband of President Eisenhower’s private secretary.  Thus, the newly functioning CIA dove into Operation PBSUCCESS, a covert mission with ends to remove Arbenz from office.  

 

Skip the first 9 minutes 20-odd seconds of this video and watch it from 9:23 to see how UFCO used its influence in Washington to have US Forces control the politics of one of these 'banana republics". 

 

 

[facthunter]

It's typical of how their form of capitalism works. The lemonade kid on the corner going on to great thing s and anyone can do it are misleading falsehoods. WAR  and Lawyers and the US $ standard back up the trade agreements and arrangements that enslave OTHER Countries and keep them in their place. We don't hear much about anti trust laws these days. Their Capitalism has no "just" rules JUST  Power, opportunism and exploitation even of their OWN population.  They become more divided internally as time moves on.  Elect a fix- it whacko that the world doesn't matter to. America FIRST . What a CON act. Nev

 

 

[Yenn]

OME your definition of a banana republic reminds me of another country. Just change banana to coal and you will see what I mean

 

 

[facthunter]

Look for the name "Equity Investments" Biggest short term profits and leave devastation as a result. Like buying undervalued shares and assett stripping a going concern. Whatever it Takes to make a dollar.  Nev

 

 

[old man emu]

OME your definition of a banana republic reminds me of another country. Just change banana to coal and you will see what I mean

 

Keating said, in 1986:

 

In the 1970s … we became a third world economy selling raw materials and food and we let the sophisticated industrial side fall apart … If Australia doesn’t deal with these fundamental problems, then you are gone. You are a banana republic. He was warning against the dangers of relying on mining and primary product for our export earnings. In the event, it was the excesses of the 1980s that brought the economy undone. The recession of 1990 followed the stock market collapse of October 1987 and was caused by  international recession and high interest rates.

 

Household budgets felt the pinch. Perhaps the affordability of spaghetti and minced meat contributed to the growing adoption of spaghetti bolognese as one of our national dishes.

 

 

[facthunter]

Third world Countries typically let overseas interests take their raw materials at bargain prices where the inhabitants generally receive little benefit and it often wouldn't cover the repair and restoration of the environment let alone the real value of the lost assetts for all time. The shifting of capital to a tax haven means when called on they plead near bankruptcy and can only POSSIBLY do rectification when they produce a profit. Check on what's happened to the MacArthur River in the NT. Nev

 

 

[old man emu]

Third world Countries typically let overseas interests take their raw materials at bargain prices where the inhabitants generally receive little benefit

 

It wasn't those on the bottom of the pile who gave away their assets. It was those leaders who got a good cut of the deal who sold their countries down the river. And if it looked like the sh|t-kickers were going to oust the corrupt leaders, the corrupt leaders called in their militarily superior mates to put the kickers back in their place.

 

Australia is the Lucky Country because our Robber Barons have not called in the Heavies to stop the Commoners running the Barons out of town on rail.

 

 

[Bruce]

Gosh, in 1986 when Keating said that we should keep our sophisticated industries going  to avoid becoming  a banana republic, Australia made Chryslers, Fords, Holdens, and Toyotas. They have all gone now.

 

 

[Bruce]

Oops it was Mitsubishis (?) not Chryslers, and the Leyland was already gone.

 

 

[old man emu]

They were all International Companies which found it in their interests to pay their workers in Asia a bowl of rice per day rather than Australians a kilo of snags.

 

But what about other industries? We used to have a good boot and shoe making industry; clothing (remember Fletcher Jones & Co; Crystal Shirts, Joseph Dahdah and Co?); Wunderlich decorative ceiling panels; Sunshine Harvester; foundries, leather works; Email Ltd.

 

All gone!

 

 

[facthunter]

Suttons are still around making drills, taps, and dies. Better quality than most others  available. A poor quality adjustable reamer is  totally useless.  We will regret having those industries gone and the ones associated with them. Over 200,000 jobs . With the $AUD where it is now, they would have been making money. Nev