¶ Transnationalism vs. Colonialism
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Index Entry
Transnationalism vs. Colonialism:
"Colonialism took away the physical and returned the physical in rearranged ways. Transnationalism trades in metaphysical know-how.
“Along with its integration of world industrialization, transnationalism has also developed its own world-around intramural economic accounting facility which overflys the local, national controls and their respective currencies and tariffs. Vast, computer-facilitated, omni-world-operation accounting of the major transnational industrials is now being accommodated in a major way by the great American and European banking corporations themselves going transnational. In effect, American banks have taken American depositors’ funds to expand themselves into world organizations and, together with the transnational corporations’ financial managers, have used American dollars around the world to buy the world’s gold in the world markets outside the United States as permitted by the recent U.S. presidential rescinding of a 40-year-long federal law that monetary gold could not be privately owned… Altogether this flight of gold and its acquisition by the new transnationalism and the Arabs, who finally wrote the death warrant of petro-colonialism, has resulted in the world’s international import-export trade balance being divested of any serious meaning.”
