UNDERNEWS

Undernews is the online report of the Progressive Review, edited by Sam Smith, who has covered Washington during all or part of one quarter of America's presidencies and edited alternative journals since 1964. The Review has been on the web since 1995. See main page for full contents

March 30, 2009

HOW THE GEITHNER TOXIC ASSET SCHEME IS ANOTHER BANK SCAM

2 Comments:

Anonymous Anonymous said...

I suspect I'm not the only American who's been puzzled as to how the US could be so heavily into deficit spending mostly benefiting defense contractors and mercenaries, have such a disastrous imbalance of payments relative to imports/exports and not be wrecked by the oceans of Tbills and bonds held by countries the Us is threatening. Michael Hudson's article "Financing the Empire" explains that. As I understand it other countries receiving dollars from their citizen's business dealings have little option but to redeem them for US bonds at central banks. The congress prevents by law most foreign purchase of US assets . The US deficit spending is used for military spending and the foreign gov't.s wind up propping up their oppressors currency because they can't afford to let it collapse. How fuckin' devious is that?
http://counterpunch.com/hudson03302009.html

March 31, 2009 5:22 PM  
Anonymous Mairead said...

Pretty f*ckin' devious, for sure.

But nobody ever said scum must be stupid. The most successful criminal psychopaths are the smartest ones - they scrupulously sail as close to the wind as they can while avoiding both diagnosis and criminal charges.

We need to be smarter than they are, if we ever want to stop being their prey.

April 1, 2009 6:43 AM  

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