Doug Casey Quotes
That's where all the foreign aid (which might be defined as a transfer from poor people in rich countries to rich people in poor countries) went as well. The U.S. government still squanders about $20 billion a year this way, and European governments spend proportionally even more; it's all gone straight down a giant rat hole.
His definition of foreign aid given in this quotation is a classic example of political rhetoric. It is exaggerated somewhat, but basically true. The poor in America do not really pay much in taxes that would pay for foreign aid. However the middle class does. In the foreign counties much of the foreign aid money gets siphoned off by graft and corruption which is inevitably dominated by some of the rich of the country. Even if the money is spent without any graft or bribery, materials have to be procured and labor has to be supplied and foreign rich people own the companies which make the profits selling goods, labor and services to the foreign aid projects. In some nations the rich had set up a two-tier pricing for their products and services. One for normal business and commerce; a higher one for foreign aid projects.
Douglas ‘Doug’ Casey, Economist, Economic Presidential Campaign to Ron Paul, “Opportunity in Mozambique”,1996
Sourced by: Eigen's Political and Historical Quotations
One dramatic example of this principle is that India at the end of the 20th century had more billionaires than the United States did.
Whether or not our USAID officials are tough on a bureaucracy or a government unfortunately has had little to do with whether they had used to money for services to the poor, but how the nation voted in support of the United States in the UN and engaged in other political acts perceived by the State Department and the Administration to be favorable to the United States.
He had not committed any felonies, but these charges were laid under the concept of “high crimes and misdemeanors”.
Commenting on the foreign debt problem:
Douglas Robert Casey is an American writer, speculator, and the founder and chairman of Casey Research. He describes himself as an anarcho-capitalist influenced by the works of novelist Ayn Rand.
