Part 12/16:
The Role of Debt, Defaults, and International Agencies
Throughout the chapter, Griffin provides a detailed look at how nations—Mexico, Brazil, Argentina, and even Russia—have been plunged into endless cycles of debt, bailouts, and restructuring. Behind these apparent crises, he claims, is a deliberate plan: keep nations perpetually in debt, preventing true independence while funneling wealth upward to international banks and elite financiers.
For instance, Mexico’s repeated defaults and the subsequent bailouts—paid for by American taxpayers—are portrayed as a textbook example of this strategy. Similar scenarios unfolded in Brazil and Argentina, with loans, interest rollovers, and debt forgiveness perpetuating a cycle of economic dependency.