The Globalization of Poverty

The Globalization of Poverty

After the Military coup on Chile in 1973 overthrowing the elected government of president Salvador Allende, the military Junta headed by General Augusto Pinochet ordered a hike in the price of bread from 11 to 40 escudo's, a hefty overnight increase of 264%. This economic shock treatment had been designed by a group of economists called the “Chicago Boys”. Thanks to a nest of Chicago trained economists, deciples of Milton Friedman, On September 11th 1973, In the hours following the bombing of the Presidential Palace of La Moneda, the new military rulers imposed a 72-hour curfew. While food prices skyrocketed, wages had been frozen to ensure “Economic Stability and stave off inflationary pressures”. From one day to the nest, an entire country was precipitated into abysmal poverty: In less than a year the price of bread in Chile increased thirty-six times and eighty-five percent of the Chilean population had been driven below the poverty line. Then two years later in Argentina 1976, another military coup(d'Jtat) took place, and tens of thousands of people were arrested and the Desaparecidos were assassinated. The military takeover in Argentina was a “Carbon Copy” of the CIA-led coup in Chile. This has happened in Peru,Africa(Rwanda especially), India and Bangladesh, Vietnam, Kenya, Nigeria, Egypt, Morocco, the Philippines.

A New World Order has been installed destroying national sovereignty and the rights of citizens. Under the new rules of the World Trade Organization established in 1995, “entrenched rights” were granted to the world's largest banks and multinational conglomerates. Public debts have spiralled, state institutions have collapsed, and the accumulation of private wealth has progressed relentlessly.