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froth  QUOTES

3 " It was pitiful for a person born in a wholesome free atmosphere to listen to their humble and hearty outpourings of loyalty toward their king and Church and nobility; as if they had any more occasion to love and honor king and Church and noble than a slave has to love and honor the lash, or a dog has to love and honor the stranger that kicks him! Why, dear me, ANY kind of royalty, howsoever modified, ANY kind of aristocracy, howsoever pruned, is rightly an insult; but if you are born and brought up under that sort of arrangement you probably never find it out for yourself, and don't believe it when somebody else tells you. It is enough to make a body ashamed of his race to think of the sort of froth that has always occupied its thrones without shadow of right or reason, and the seventh-rate people that have always figured as its aristocracies -- a company of monarchs and nobles who, as a rule, would have achieved only poverty and obscurity if left, like their betters, to their own exertions...

The truth was, the nation as a body was in the world for one object, and one only: to grovel before king and Church and noble; to slave for them, sweat blood for them, starve that they might be fed, work that they might play, drink misery to the dregs that they might be happy, go naked that they might wear silks and jewels, pay taxes that they might be spared from paying them, be familiar all their lives with the degrading language and postures of adulation that they might walk in pride and think themselves the gods of this world. And for all this, the thanks they got were cuffs and contempt; and so poor-spirited were they that they took even this sort of attention as an honor. "

Mark Twain

14 " Beyond the speculative and often fraudulent froth that characterizes much of neoliberal financial manipulation, there lies a deeper process that entails the springing of ‘the debt trap’ as a primary means of accumulation by dispossession. Crisis creation, management, and manipulation on the world stage has evolved into the fine art of deliberative redistribution of wealth from poor countries to the rich. I documented the impact of Volcker’s interest rate increase on Mexico earlier. While proclaiming its role as a noble leader organizing ‘bail-outs’ to keep global capital accumulation on track, the US paved the way to pillage the Mexican economy. This was what the US Treasury–Wall Street–IMF complex became expert at doing everywhere. Greenspan at the Federal Reserve deployed the same Volcker tactic several times in the 1990s. Debt crises in individual countries, uncommon during the 1960s, became very frequent during the 1980s and 1990s. Hardly any developing country remained untouched, and in some cases, as in Latin America, such crises became endemic. These debt crises were orchestrated, managed, and controlled both to rationalize the system and to redistribute assets. Since 1980, it has been calculated, ‘over fifty Marshall Plans (over $4.6 trillion) have been sent by the peoples at the Periphery to their creditors in the Center’. ‘What a peculiar world’, sighs Stiglitz, ‘in which the poor countries are in effect subsidizing the richest. "

David Harvey , A Brief History of Neoliberalism