Michael Hudson: QE Intentions All Too Obvious + Kleptocrats who run Ukraine economy will grab IMF cash & run

Image by DonkeyHotey via Flickr

with Michael Hudson
Writer, Dandelion Salad
michael-hudson.com
March 11, 2015

TheRealNews on Mar 10, 2015

Michael Hudson says quantitative easing is a pretext to assist banks make even more profits

Transcript

Part 2

European Central Bank’s Trillion Euro QE plan to make the economy grow will only help keep the banks a float

Transcript

“The interest of banks is not to help economies grow; it’s to extract interest from the economy. The financial sector uses part of its rising wealth to lobby for privatization selloffs. The problem with this is that when you privatize a public utility, you give away a monopoly – and if you deregulate the economy, you let the monopoly set up tollbooths over the economy, for toll roads, communications or whatever is being privatized.

[…]

This financial warfare is trying to achieve the same thing that military warfare did in the past. It’s aim is to grab the land, to grab control of the public infrastructure, to grab control of governments themselves. But it’s doing it financially rather than militarily.”

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Kleptrocrats who run Ukraine economy will grab IMF cash & run

RT on Mar 11, 2015

Ukraine’s inflation hit 34 percent in February. It’s been mounting rapidly since the unrest erupted over a year ago. The conflict drained the country, and there’s little money left in the reserves. From 20-billion dollars in January last year, it’s now shrunk to less than 6 billion.

Financial analyst and commentator Michael Hudson says there’s a big risk the IMF will not get any of its money back.

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Michael Hudson is a former Wall Street economist. A Distinguished Research Professor at University of Missouri, Kansas City (UMKC), he is the author of many books, including Super Imperialism: The Economic Strategy of American Empire (new ed., Pluto Press, 2002) and Trade, Development and Foreign Debt: A History of Theories of Polarization v. Convergence in the World Economy. His book summarizing his economic theories, The Bubble and Beyond, is now available. His latest book is Finance Capitalism and Its Discontents. His upcoming book is titled Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy. He can be reached via his website, mh@michael-hudson.com.

see also

The ECB’s Noose Around Greece: How Central Banks Harness Governments by Ellen Brown

from the archives

Three Evils of Capitalism

Aid to Ukraine May End US Empire by Finian Cunningham + Video Reports

The Stimulator: Our Shitty Situation

Michael Hudson: Inequality = Privatization of the Earth 

Syriza Party Wins Elections in Greece + Trojan Hearse: Greek Elections and the Euro Leper Colony by Greg Palast

ESM, the new European dictator! By Rudo de Ruijter