[Marxism] Fwd: How a US president and JP Morgan made Panama: and turned it into a tax haven | World news | The Guardian

Louis Proyect lnp3 at panix.com
Mon Apr 11 06:48:46 MDT 2016

This goes back a long way. The Panamanian state was originally created 
to function on behalf of the rich and self-seeking of this world – or 
rather their antecedents in America – when the 20th century was barely born.

Panama was created by the United States for purely selfish commercial 
reasons, right on that historical hinge between the imminent demise of 
Britain as the great global empire, and the rise of the new American 

The writer Ken Silverstein put it with estimable simplicity in an 
article for Vice magazine two years ago: “In 1903, the administration of 
Theodore Roosevelt created the country after bullying Colombia into 
handing over what was then the province of Panama. Roosevelt acted at 
the behest of various banking groups, among them JP Morgan & Co, which 
was appointed as the country’s ‘fiscal agent’ in charge of managing $10m 
in aid that the US had rushed down to the new nation.”


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