How the FTX money laundering worked is basically how all
Foreign Aid works in the same way. It's a theft from the taxpayers by their elected politicians and their corporate partners.
Here is a
quick review for those of you (probably few) who may not yet know or have forgotten. The standard method, as described by many, including John Perkins in
Confessions of an Economic Hit Man, is to take taxpayer money from the treasury and give it to a corrupt/compliant foreign leader (usually of a developing nation), with the condition that X% of the funds must be used for some kind of project, and that particular (corruptly led) US-based corporations must be hired to execute the project. AND, typically, the recipient nation must borrow more money from the World Bank/IMF to complete the work and thus go into debt. These contractor corporations are the stealth partners of the donor nation's politicians who ensure that the money is appropriated through Congress, Parliament, or whatever governmental body holds national purse strings.
The project is typically some kind of public-works thing that pretties up the foreign nation's capital city, or something similar that doesn't particularly benefit the local people, but looks good for the leader. The leader, of course, pockets a smaller Y%, which he/she uses to pay off his/her inner circle, and so on (the machinery of hierarchical management), so the whole thing stays well obfuscated from the public.
The contractor corporations vastly overcharge for their work, get rich, and funnel Z% back to the donor country's political sponsors as political donations (to the Party, a PAC, a charitable foundation, etc. or some other ostensibly third party). They do this so that the politicians will keep renewing the schemes in the same country and setting up the same schemes in new countries. There are a thousand other crooked benefits: keeps foreign leaders happy and compliant; keeps their nations from developing into rivals; drives the recipient nations into debt with the banks, subjecting them to control; opens foreign markets, etc., etc.
This also sheds light on why there is a revolving door between corporate and political positions of power (remember Halliburton / Dick Cheney, as just one example). This is also basic fascism, by Mussolini's definition.
In the end, the donor nation's taxpayers are deceived, ripped off, and left susceptible to repeated theft, yet are completely ignorant of it, and even feel good about helping poor nations (emotionally manipulated), and remain eager to support more such endeavors. See: Ukraine.
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