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Moderate Rebels

How the US makes countries pay for its wars: Economics of American imperialism with Michael Hudson

Moderate Rebels

Moderate Rebels

Foreignpolicy, Politics, War, Journalism, Middleeast, News, News Commentary

4.7673 Ratings

🗓️ 23 April 2020

⏱️ 47 minutes

🧾️ Download transcript

Summary

Economist Michael Hudson explains how American imperialism has created a global free lunch, where the US makes foreign countries pay for its wars, and even their own military occupation.

Max Blumenthal and Ben Norton discuss the economics of Washington's empire, the role of the IMF and World Bank, attempts to create alternative financial systems like BRICS, and the new cold war on China and Russia.

VIDEO: youtube.com/watch?v=paUgY6SGlgY

PART 2 OF 2

Part 1 here: moderaterebels.com/transcript-us-coronavirus-bailout-michael-hudson

Michael Hudson's website: michael-hudson.com

PDF of his book Super Imperialism: michael-hudson.com/wp-content/uploads/2010/03/superimperialism.pdf

(Interview recorded on April 13, 2020)

Transcript

Click on a timestamp to play from that location

0:00.0

Well, the World Bank has one primary aim, and that's to make other countries dependent on American agriculture.

0:10.0

This is built into its Articles of Agreement.

0:14.0

It can only make foreign currency loans.

0:17.0

So it will only make loans to countries for agricultural development roads if it is to promote

0:23.9

exports.

0:25.5

So the United States, through the World Bank, has become, I think, the most dangerous right-wing,

0:32.3

evil organization in modern history, more evil than the IMF.

0:36.4

That's why it's almost always been run by a Secretary of Defense.

0:42.7

It has always been explicitly military.

0:45.7

It's, it's the hard fist of American imperialism.

0:49.3

Its idea is that, uh, if we'll make, uh, Latin American and African and Asian countries export plantation crops,

0:57.0

especially plantations that are foreign-owned.

1:02.0

But the primary directive of the World Bank to countries is you must not feed yourself.

1:08.0

You must not grow your own grain or your own food.

1:12.7

You must depend on the United States for that, and you can pay for that by exporting plantation

1:18.7

crops.

1:19.7

I'll never apologize for the United States of America.

1:23.2

Ever.

1:24.2

I don't care what the facts are.

1:27.3

Why are we going to sit down and talk to these quote unquote moderate rebels?

1:30.3

Who are the truly moderate rebels?

1:32.3

The search for the moderate rebel? Do these moderate rebels exist?

...

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