South Korean Flag
[courtesy Google Images]
I first wrote and published most the following article in A.D. 1998. It’s too long to be presented as a single article in this forum, so I’ve divided it up into “Part I—Description” and “Part II—Evidence”. This week, the Description; next week, the Evidence.
I’ve also edited the original article, added some comments, made a couple of corrections and changed some verb tenses to make the text more readable and “current”. Nevertheless, despite these changes, 80% of this article was written 17 years ago.
Why should anyone want to read an article written 17 years ago?
First, because the article explains how overly-indebted South Korea “voluntarily” accepted colonization by the International Monetary Fund (IMF) rather than risk declaring a national bankruptcy. The process is almost exquisitely wicked.
Second, this article should help people to better understand what’s recently happened to Greece. In order to avoid declaring bankruptcy, the overly-indebted Greece agreed to a bailout deal with the European Union (EU) and the European Central Bank (ECB) that essentially reduced Greece from the status of a sovereign nation that joined the EU voluntarily, to the status of a colony that’s been conquered and is now owned and operated by the EU and ECB.
The most recent Greek bailout deal is so extreme, it’s been described by some as less than an “agreement” than an unconditional surrender—the capitulation of an overly-indebted nation who feared the pain of bankruptcy more than the bondage of debt. (That’s exactly what also happened to South Korea in A.D. 1997.)
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