Michael Hudson — New $600B Fed Stimulus Fuels Fears of US Currency War
New $600B Fed Stimulus Fuels Fears of US Currency War– Michael Hudson 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.” [read transcript here] See his website here. From A Democracy Now Presentation 11-5-2010. Download Michael Hudson's website is: http://www.michael-hudson.com Source: noliesradio.org Source: DemocracyNow Aired: 11/05/10 12:00 AMThis podcast is an aggregate of audio files freely available online. Please visit the original source and subscribe to the host website.
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