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War, Debt, and Colonial Power
Tim Di Muzio
and
Richard H. Robbins

financial press lionized him. But if things were returning to “normal” in the United States, the Volcker Shocks had served to inflate the debt of virtually every developing country—countries that often had to take new loans just to service mounting interest payments (George 1988; Hall 1988: 12). Usury used to be applied at the level of the individual, but it was now being applied at the level of entire populations as a permanent technology of imperial power. From the perspective of capital as power, interest is a weapon of redistribution, pure and simple, and the “debt

in Debt as Power
Open Access (free)
Paul Robert Gilbert
,
Clea Bourne
,
Max Haiven
, and
Johnna Montgomerie

, and the act of not only making something ‘secure’ but making something a ‘security problem’. Particular racially marked or religious groups might be ‘securitized’ by governments that treat them as a certain risk, subjecting them to additional restrictions and surveillance. Or specific places might become ‘securitized’, subject to a set of controls and restrictions on movement. ‘Liquidity’, also a common term heard in the financial press, refers for the most part to the ease with which something can be sold: ‘liquid’ assets being those that can be turned into cash

in The entangled legacies of empire