Posted 26th April 2011 Pub. 31 March 2011
WHY THE JAPANESE GOVERNMENT CAN AFFORD TO REBUILD:
IT OWNS THE LARGEST DEPOSITORY BANK IN THE WORLD
Ellen Brown: http://www.globalresearch.ca/index.php?context=va&aid=24077
The Japanese government can afford its enormous debt because it owns the bank that is its principal creditor. But competitors are attempting to force the bank’s privatization. If they succeed, they could propel the country into debt servitude along with other credit-strapped nations.[Read more]
www.globalresearch.ca/index.php?context=va&aid=24267
America's Military Expansion Funded by Foreign Central Banks
Michael Hudson:
Large amounts of surplus dollars are pouring into the rest of the world.Central banks have recycled these dollar inflows towards the purchase of U.S. Treasury bonds, which serve to finance the federal U.S. budget deficit. Underlying this process is the military character of the U.S. payments deficit and the domestic federal budget deficit. Strange as it may seem and irrational as it would be in a more logical system of world diplomacy, the "dollar glut" is what finances America’s global military build-up. It forces foreign central banks to bear the costs of America’s expanding military empire: effective "taxation without representation". [Read more]
