US Black Debt Hole: 'We want you all bankrupt!'

[The Northerner]

Run time: 10:55 https://www.youtube.com/watch?v=8P1fihT5B7o   Posted on YouTube: November 09, 2010 By YouTube Member: RussiaToday Views on YouTube: 362   Posted on DU: November 10, 2010 By DU Member: The Northerner Views on DU: 644

 
There is no possibility of agreement at the upcoming G20 summit because the U.S. is declaring financial war on other countries, believes American economist Michael Hudson. The U.S. has been pushing China to revalue its currency -- at a time when Washington has been pumping billions of dollars into its economy -- a move viewed by other countries as an attempt to deliberately weaken the greenback. The issue of exchange rates is expected to be one of the toughest discussion points at the G20 summit in South Korea later this week. Michael Hudson, a renowned economist and Wall Street financial analyst and advisor, says the meeting in Seoul will not bring an end to global currency wars. "The U.S. is going to China and saying 'we want you to commit economic suicide just like Japan did. We want you to follow the same way: we want you to re-value your currency, we want you to squeeze your companies, we want you to go bankrupt so we can make our profit at your expense," says Hudson.

[suzanner]

1. So... what could be worse...?

[irislake]

2. The Black Plague?