Chapter XII of the eBook, The Worldwide Corona Crisis: Global Coup d’Etat Against Humanity

By Prof Michel Chossudovsky/Global Research

The Worldwide Corona Crisis, Global Coup d’Etat Against Humanity

“The IMF, World Bank and global leaders knew full well what the impact on the world’s poor would be of closing down the world economy through COVID-related lockdowns.

Yet they sanctioned it and there is now the prospect that in excess of a quarter of a billion more people worldwide will fall into extreme levels of poverty in 2022 alone.” (Colin Todhunter, July 2022)

History of Economic “Shock Treatment”. From the Structural Adjustment Programme (SAP) to “Global Adjustment (GA)”

The March 11, 2020 (simultaneous) closing down of the national economies of approximately 193 member states of the UN is diabolical and unprecedented. Millions of people have lost their jobs and their lifelong savings. In developing countries, poverty, famine and despair prevail. The closure of national economies has led to a spiraling global debt. Increasingly, national governments are controlled by the creditors, which are currently financing the social safety nets, corporate bailouts and handouts.

While this model of “global intervention” is unprecedented, it has certain features reminiscent of the country-level macro-economic reforms including the imposition of strong “economic medicine” by the IMF. To address this issue, let us examine the history of so-called “economic shock treatment” (a term first used in the 1970s).

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