If you believe in the 'righteousness' of capitalism, I highly
recommend you read this slightly edited speech to European heads of state by a representative of South American indigenous communities:
I, Guaicaipuro Cuatemoc, have come to meet with the participants at this meeting. Here, I, descendent of those who have lived in [the Americas] for 40,000 years, have come to meet with those who met us 500 years ago.
My brothers, the European userers, ask me to repay a debt of treachery from a Judas I never authorized to put me up for collateral. My brother, the European hypocrite, explains to me that all debts must be paid with interest even while he buys and sells human beings and entire countries without their consent.
Proven it is, in the archives of Native peoples, by paper upon paper, receipt upon receipt, and signature upon signature, that between the years 1503 and 1660 there arrived at San Lucas de Barrameda* [Spain] 185,000 kilos of gold and 16,000,000 kilos of silver from the Americas. Those...kilos of gold...[and]...silver should be seen as the first of many, many friendly loans from the Americas toward European development. The contrary would be to assume war crimes [against the Europeans] and not only immediate recompense, but indemnity for damages, pain, and suffering.
Such a fabulous transfer of capital was no less than the beginning of a 'Marshall Tesuma' plan, to guarantee the reconstruction of a barbaric Europe, ruined by wars against (a very civilized) Islam. [That is, the continuing Crusades.]
So, to celebrate the Fifth Centennial of the I.O.U, we can ask: Have our European brothers made rational, responsible or even productive use of these amounts so generously advanced by the International Indo-American Fund? Sadly, the answer is--'no.' In their campaigns they squandered it--in the battles of Lepanto, in invincible armadas, in Third Reichs, in every form of mutual extermination. They have been unable, despite a 500-year moratorium, to repay the principal and interest, let alone to live free of the further dividends, the raw materials and cheap energy exported and continually provided to them by all the 'third world.' [Or, exploitation.]
This deplorable vista corroborates Milton Friedman's** view that a subsidized economy can never function and obliges us, for their own good, to demand payment of the principal and interest that we have waited so generously for all these centuries to reclaim. Let it be clear that we do not stoop to charging the villainous leech rates of 20% and up to 30% that our European brothers charge the peoples of the third world. We merely require the return of the precious metals advanced, plus the modest accumulated interest of 10% for a period of 300 years with a 200 year period of grace.
On this basis, and applying the European formula for compound interest, we advise our 'discoverers' that they owe us, as initial payment on the debt, a mass of 185,000 kilos of gold and 16,000,000 kilos of silver. As for the interest, we are owed 440,000,000,000,000,000 kilos of gold and 38,000,000,000,000,000,000 kilos of silver (or 1% of the mass of the moon). At the rates of mid-2002, that equates to a total of US$391,000,000,000,000,000,000.00 or 391 million million million dollars [over 16,900 million million million dollars by 2005 rates and even more, today, in 2015].
To infer that Europe, in half a millennium, has not been able to generate sufficient wealth to pay off this modest interest, would be to admit the abject failure of its financial system and the demented irrationality of the premises of capitalism.
Such metaphysical questions, however, do not disturb us Indo-Americans.
But what if we were to require the signing of a Letter of Intent to discipline the indebted peoples of the Old World, and to oblige them to fulfill their obligations by means of rapid privatization and fiscal restraint, as the first step in payment of this historic debt? [As the Europeans in all their guises (American, Australian, South African, etc., nearly always require in their dealings with the impoverished peoples of the world.]
Your Indo-Amercian Brother...
(From The Little Money Book by David Boyles, 2003)
(Note: Soon after this letter, some Western leaders insisted, in their arrogance, that the Americas were conquered people and thus, owed nothing. Truth is, the West owes everything to Natives of every continent.)
*San Lucas de Barrameda, Spain - https://en.wikipedia.org/wiki/Sanl%C3%BAcar_de_Barrameda
**Milton Friedman - https://en.wikipedia.org/wiki/Milton_Friedman