Financial Barbarians at the Gate

hudson02

The Financial Barbarians at the Gate is a Guns and Butter interview with economist / historian Michael Hudson.  In it he discusses the historical takeover of the economy by the finance sector.

Financial Barbarians at the Gate (59:53): MP3

One point of note is that the illegal war of aggression in Iraq is not a war related to economics but to the strategic interests of Israel.  Hudson, explaining American Imperialism, states that “unlike England the United States didn’t have to invade countries, at least before the oil grab in Iraq” and instead drained countries through the US monetary system.  It’s revealing that he suggests Iraq as a change in economic policy, it was not about economics, the oil lobby in Washington didn’t want a war, they wanted an end to brutal sanctions to gain conventional access to the oil.