Press Action

Thursday, October 21, 2004

Gallipoli for Dummies

By Adam Engel

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Posted 10/21 |

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The $400 billion military, $750 billion this year when you add in all the supplementals according to Chalmers Johnson, the former number almost as much as the rest of the world spends combined on their militaries, is the most fundamental problem facing this country. Great piece.

Posted by Tracy McLellan from on 10/21 at 01:01 PM

“Between 1992 and 2000, the number of US dollars held as reserves by central banks around the world grew by $800 billion, an average of $100 billion a year. This constituted an $800 billion interest free loan by the rest of the world to the USA. In effect, the USA has been able to buy $800 billion worth of goods and foreign assets without paying for them. It has been described as a tribute, a crippling tax that the rest of the world pays to the USA. For the USA, it is another case of a free lunch.
Even that isn’t all, because almost all those dollars were created by US banks as debt. Richard Douthwaite has calculated that the total return to the USA from creating money is of the order of $425 billion per annum. This has enable the USA to run a trade deficit in the order of $1.2 billion per day. Compare that with the figure of $343 billion for the US military budget for 2002.”

-- Gaian Democracies by Madron and Jopling, pgs. 72-73

Anther words, the USA not only pays for it’s weapons of mass destruction through a clever fraudulent scam invented by neo-classical economists but inflicts those weapons on the ones paying for it. What a beee-autiful system. The global suicide/genocide/ecocide economy. Can it get any better than this?

Posted by Rhino Rick from on 10/22 at 06:02 AM

Just wanted to say that the ANZACs that fought at Gallipoli were made up of Australians AND New Zealanders. ANZAC stands for Australia and New Zealand Army Corps.

Posted by A Brophy from on 10/25 at 07:24 PM