With Max Keiser on the history of debt from the Bronze Age onwards. Max poses the question, has a historical precedent been set with the bailing out of creditors, not debtors in 2008?
Keiser Report: Reality of Creditor Jubilees (E1278)
RT on Sep 11, 2018
In this episode of the Keiser Report, Max and Stacy look at the question of “whether or not China has what it takes to be a superpower?” In the second half, Max interviews Dr. Michael Hudson, the author of the soon to be released book, “…and forgive them their debts: Lending, Foreclosure and Redemption — From Bronze Age Finance to the Jubilee Year.” They discuss the new – or not so new? – reality of creditor jubilees in which investors’ bad investment decisions are made whole and why it has always instead been the debtor who has rightfully been given a clean slate.
[Hudson begins at 12:11 mins in]
Michael Hudson is President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City and author of …and forgive them their debts, J is for Junk Economics (2017), Killing the Host (2015), The Bubble and Beyond (2012), Super Imperialism: The Economic Strategy of American Empire (1968 & 2003), Trade, Development and Foreign Debt: A History of Theories of Polarization v. Convergence in the World Economy (1992 & 2009) and of The Myth of Aid (1971), amongst many others. He can be reached via his website Michael Hudson, firstname.lastname@example.org.
from the archives: