Michael Hudson — "World Tired of Paying Bill for US Military" on The Real News Network (December 26, 2010)

Michael Hudson — "World Tired of Paying Bill for US Military" on The Real News Network (December 26, 2010)

Michael Hudson: World Tired of Paying for US Military — 26 Dec 2010 — Hudson explains how the US dollar's status as the global reserve currency extracts extra financial value that America uses to fund its military. But other countries are recognizing this and are slowly moving away from the dollar for their transactions.

Michael Hudson is President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City and author of Super-Imperialism: The Economic Strategy of American Empire (1968 & 2003), Trade, Development and Foreign Debt (1992 & 2009) and of The Myth of Aid (1971). ISLET engages in research regarding domestic and international finance, national income and balance-sheet accounting with regard to real estate, and the economic history of the ancient Near East. Michael acts as an economic advisor to governments worldwide including Iceland, Latvia and China on finance and tax law.

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Michael Hudson's website is: http://www.michael-hudson.com

Source: The Real News Network
Aired: 12/26/10 12:00 AM