Democracy Now! with Michael Hudson: Financial Warfare

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Democracy Now!
Nov. 5, 2010

New $600B Fed Stimulus Fuels Fears of US Currency War

The Federal Reserve will pump $600 billion more into the US economy and keep interest rates at historical low levels. The short-term impact of the Fed’s move, known as quantitative easing, has been a jump in stock prices across the globe. Many nations, however, have accused the United States of waging a currency war by devaluing the dollar. We speak to former Wall Street economist and University of Missouri professor Michael Hudson. “The object of warfare is to take over a country’s land, raw materials and assets, and grab them,” Hudson says. “In the past, that used to be done militarily by invading them. But today you can do it financially simply by creating credit, which is what the Federal Reserve has done.” [includes rush transcript]

[starts at 7:52]

via New $600B Fed Stimulus Fuels Fears of US Currency War

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Fed $600 Stimulus Fears of U.S. Currency War – Democracy NOW

see

Kucinich Calls on the ‘Fed’ to Focus on Jobs, Not Banks

U.S. “Quantitative Easing” is Fracturing the Global Economy by Michael Hudson

Road to Corporate Serfdom by Ralph Nader

China’s Creative Accounting: How It Buried Its Debt and Forged Ahead with Stimulus by Ellen Brown

Predatory Finance: The New Mode of Global Warfare by Michael Hudson

DN! Nobel Joseph Stiglitz (1) Foreclosure Moratorium – Stimulus Needed to Revive US Economy

DN! Nobel Joseph Stiglitz (2) Foreclosure Moratorium – Stimulus Needed to Revive US Economy

DN! Nobel Joseph Stiglitz (3) Foreclosure Moratorium – Stimulus Needed to Revive US Economy