Chris Hedges: The American Empire Is Bankrupt

“To fund our permanent war economy, we have been flooding the world with dollars. The foreign recipients turn the dollars over to their central banks for local currency. The central banks then have a problem. If a central bank does not spend the money in the United States then the exchange rate against the dollar will go up. This will penalize exporters. This has allowed America to print money without restraint to buy imports and foreign companies, fund our military expansion and ensure that foreign nations like China continue to buy our treasury bonds. This cycle appears now to be over” .. scary .. read more

 

 

This entry was posted on Wednesday, June 17th, 2009 at 7:43 AM and filed under Articles, Economics, War. Follow comments here with the RSS 2.0 feed. Skip to the end and leave a response. Trackbacks are closed.

Leave a Reply

You must be logged in to post a comment.